A number of other analysts have also recently commented on SRC. FBR & Co assumed coverage on Spirit Realty Capital in a research report on Wednesday, January 4th. They issued an outperform rating and a $13.00 price target for the company. Zacks Investment Research upgraded Spirit Realty Capital from a sell rating to a hold rating in a research report on Tuesday, February 14th. Mizuho cut Spirit Realty Capital from a buy rating to a neutral rating and set a $10.50 price target for the company. in a research report on Friday, December 16th. JPMorgan Chase & Co. assumed coverage on Spirit Realty Capital in a research report on Friday, December 16th. They issued an overweight rating and a $13.00 price target for the company. Finally, Bank of America Corp cut Spirit Realty Capital from a neutral rating to an underperform rating in a research report on Monday, December 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $13.78.
Spirit Realty Capital (NYSE:SRC) opened at 10.28 on Wednesday. The company’s 50 day moving average price is $10.60 and its 200-day moving average price is $11.43. The stock has a market capitalization of $4.97 billion, a PE ratio of 49.90 and a beta of 0.52. Spirit Realty Capital has a one year low of $9.97 and a one year high of $13.97.
Spirit Realty Capital (NYSE:SRC) last issued its quarterly earnings results on Wednesday, February 22nd. The real estate investment trust reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.13. The business earned $173.40 million during the quarter, compared to analysts’ expectations of $162.91 million. Spirit Realty Capital had a return on equity of 3.17% and a net margin of 16.77%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.22 earnings per share. Analysts expect that Spirit Realty Capital will post $0.33 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Friday, March 31st will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 7.00%. The ex-dividend date of this dividend is Wednesday, March 29th. Spirit Realty Capital’s dividend payout ratio (DPR) is 288.00%.
Several institutional investors have recently added to or reduced their stakes in SRC. Norges Bank acquired a new position in Spirit Realty Capital during the fourth quarter worth $41,964,000. WFG Advisors LP raised its position in Spirit Realty Capital by 336.7% in the fourth quarter. WFG Advisors LP now owns 11,790 shares of the real estate investment trust’s stock worth $264,000 after buying an additional 9,090 shares during the period. Putnam Investments LLC raised its position in Spirit Realty Capital by 470.3% in the fourth quarter. Putnam Investments LLC now owns 778,226 shares of the real estate investment trust’s stock worth $8,451,000 after buying an additional 641,774 shares during the period. Numeric Investors LLC acquired a new position in Spirit Realty Capital during the fourth quarter worth $645,000. Finally, Bridgeworth LLC acquired a new position in Spirit Realty Capital during the fourth quarter worth $579,000. 96.54% of the stock is owned by hedge funds and other institutional investors.
Spirit Realty Capital Company Profile
Spirit Realty Capital, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company’s operations are carried out through Spirit Realty, L.P. (the Operating Partnership). The Company invests in single-tenant, operationally essential real estate throughout the United States that is leased on a long-term, triple-net basis primarily to tenants engaged in retail, service and distribution industries.
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