Spirit Realty Capital, Inc. (SRC) Raised to Sell at BidaskClub

Spirit Realty Capital, Inc. (NYSE:SRC) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, June 13th.

Several other brokerages have also weighed in on SRC. Zacks Investment Research upgraded Spirit Realty Capital from a “sell” rating to a “hold” rating in a research report on Friday, March 3rd. TheStreet lowered Spirit Realty Capital from a “b-” rating to a “c+” rating in a research report on Wednesday, March 15th. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Spirit Realty Capital in a research report on Tuesday, March 21st. Sandler O’Neill lowered Spirit Realty Capital from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $13.00 to $9.00 in a research report on Thursday, May 4th. Finally, Mizuho lowered Spirit Realty Capital from a “neutral” rating to an “underperform” rating in a research report on Thursday, May 4th. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $12.04.

Analyst Recommendations for Spirit Realty Capital (NYSE:SRC)

Spirit Realty Capital (NYSE:SRC) traded down 1.42% during midday trading on Tuesday, hitting $7.62. 15,999,436 shares of the stock were exchanged. Spirit Realty Capital has a 1-year low of $6.64 and a 1-year high of $13.97. The company has a market capitalization of $3.69 billion, a P/E ratio of 42.33 and a beta of 0.54. The company’s 50 day moving average is $7.54 and its 200 day moving average is $9.78.

Spirit Realty Capital (NYSE:SRC) last posted its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.20 EPS for the quarter, missing the consensus estimate of $0.22 by $0.02. Spirit Realty Capital had a net margin of 13.28% and a return on equity of 2.10%. The company had revenue of $163.19 million during the quarter, compared to analyst estimates of $169.84 million. Analysts predict that Spirit Realty Capital will post $0.23 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $0.72 dividend on an annualized basis and a yield of 9.45%. Spirit Realty Capital’s dividend payout ratio (DPR) is presently 378.97%.

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In related news, CFO Phillip D. Joseph, Jr. bought 6,700 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was purchased at an average cost of $7.47 per share, for a total transaction of $50,049.00. Following the completion of the acquisition, the chief financial officer now owns 134,868 shares in the company, valued at approximately $1,007,463.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jackson Hsieh bought 13,400 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was bought at an average price of $7.45 per share, with a total value of $99,830.00. Following the completion of the acquisition, the insider now owns 559,453 shares of the company’s stock, valued at approximately $4,167,924.85. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 43,800 shares of company stock valued at $321,378. 0.50% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Prudential Financial Inc. boosted its stake in Spirit Realty Capital by 3,886.7% in the first quarter. Prudential Financial Inc. now owns 7,934,149 shares of the real estate investment trust’s stock worth $80,373,000 after buying an additional 7,735,135 shares in the last quarter. Norges Bank acquired a new stake in Spirit Realty Capital during the fourth quarter worth $41,964,000. FMR LLC boosted its stake in Spirit Realty Capital by 14.9% in the fourth quarter. FMR LLC now owns 21,545,517 shares of the real estate investment trust’s stock worth $233,985,000 after buying an additional 2,798,832 shares in the last quarter. Weiss Multi Strategy Advisers LLC acquired a new stake in Spirit Realty Capital during the first quarter worth $25,325,000. Finally, KRV Capital LP acquired a new stake in Spirit Realty Capital during the first quarter worth $24,059,000. Institutional investors own 99.95% of the company’s stock.

About Spirit Realty Capital

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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