Mizuho upgraded shares of Spirit Realty Capital, Inc. (NYSE:SRC) from an underperform rating to a neutral rating in a report published on Monday. The firm currently has $7.50 price objective on the real estate investment trust’s stock.
A number of other research analysts also recently commented on SRC. TheStreet downgraded shares of Spirit Realty Capital from a b- rating to a c+ rating in a research report on Wednesday, March 15th. Ladenburg Thalmann Financial Services reaffirmed a buy rating on shares of Spirit Realty Capital in a research report on Tuesday, March 21st. J P Morgan Chase & Co downgraded shares of Spirit Realty Capital from an overweight rating to a neutral rating and dropped their target price for the company from $13.00 to $9.00 in a research report on Thursday, May 4th. Janney Montgomery Scott downgraded shares of Spirit Realty Capital from a buy rating to a neutral rating in a research report on Thursday, May 4th. Finally, Sandler O’Neill downgraded shares of 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. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. Spirit Realty Capital presently has an average rating of Hold and an average price target of $11.76.
Shares of Spirit Realty Capital (SRC) traded up 0.96% during midday trading on Monday, reaching $7.39. The company’s stock had a trading volume of 6,220,375 shares. Spirit Realty Capital has a 12-month low of $6.64 and a 12-month high of $13.97. The stock has a 50-day moving average of $7.44 and a 200 day moving average of $9.61. The firm has a market capitalization of $3.58 billion, a P/E ratio of 41.06 and a beta of 0.53.
Spirit Realty Capital (NYSE:SRC) last posted its earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by $0.02. The company had revenue of $163.19 million during the quarter, compared to analysts’ expectations of $169.84 million. Spirit Realty Capital had a net margin of 13.28% and a return on equity of 2.10%. Equities research analysts predict that Spirit Realty Capital will post $0.23 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 9.84%. The ex-dividend date of this dividend is Wednesday, June 28th. Spirit Realty Capital’s payout ratio is 378.97%.
In other news, CFO Phillip D. Joseph, Jr. bought 6,700 shares of the stock in a transaction dated Friday, June 2nd. The shares were acquired at an average price of $7.47 per share, with a total value of $50,049.00. Following the completion of the acquisition, the chief financial officer now directly owns 134,868 shares in the company, valued at $1,007,463.96. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jackson Hsieh bought 13,700 shares of the stock in a transaction dated Wednesday, May 24th. The stock was purchased at an average cost of $7.27 per share, for a total transaction of $99,599.00. Following the acquisition, the insider now owns 546,053 shares of the company’s stock, valued at $3,969,805.31. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 43,800 shares of company stock worth $321,378. Insiders own 0.50% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Janney Montgomery Scott LLC purchased a new stake in shares of Spirit Realty Capital during the first quarter valued at $109,000. PNC Financial Services Group Inc. increased its stake in shares of Spirit Realty Capital by 24.0% in the first quarter. PNC Financial Services Group Inc. now owns 11,684 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 2,265 shares during the last quarter. Penserra Capital Management LLC increased its stake in shares of Spirit Realty Capital by 51.5% in the first quarter. Penserra Capital Management LLC now owns 11,730 shares of the real estate investment trust’s stock valued at $118,000 after buying an additional 3,986 shares during the last quarter. Toronto Dominion Bank purchased a new stake in shares of Spirit Realty Capital during the first quarter valued at $141,000. Finally, Investment Centers of America Inc. increased its stake in shares of Spirit Realty Capital by 2.6% in the first quarter. Investment Centers of America Inc. now owns 13,850 shares of the real estate investment trust’s stock valued at $141,000 after buying an additional 350 shares during the last quarter. 99.64% of the stock is currently owned by institutional investors and hedge funds.
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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