271,587 Shares in Spirit Realty Capital, Inc. (SRC) Acquired by HGI Capital Management LLC

HGI Capital Management LLC purchased a new position in Spirit Realty Capital, Inc. (NYSE:SRC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 271,587 shares of the real estate investment trust’s stock, valued at approximately $2,012,000. Spirit Realty Capital makes up 2.5% of HGI Capital Management LLC’s portfolio, making the stock its 19th largest position. HGI Capital Management LLC owned 0.06% of Spirit Realty Capital at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. New England Investment & Retirement Group Inc. purchased a new position in Spirit Realty Capital during the second quarter worth $100,000. Janney Montgomery Scott LLC purchased a new position in Spirit Realty Capital during the first quarter worth $109,000. Penserra Capital Management LLC raised its position in 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 worth $118,000 after buying an additional 3,986 shares during the last quarter. PNC Financial Services Group Inc. raised its position in 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 worth $119,000 after buying an additional 2,265 shares during the last quarter. Finally, Toronto Dominion Bank purchased a new position in Spirit Realty Capital during the first quarter worth $141,000. Institutional investors and hedge funds own 93.75% of the company’s stock.

Spirit Realty Capital, Inc. (NYSE SRC) opened at 8.43 on Thursday. Spirit Realty Capital, Inc. has a 12-month low of $6.64 and a 12-month high of $13.95. The stock has a market cap of $4.08 billion, a P/E ratio of 46.83 and a beta of 0.55. The stock has a 50 day moving average of $7.75 and a 200 day moving average of $9.02.

Spirit Realty Capital (NYSE:SRC) last released its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. Spirit Realty Capital had a net margin of 9.47% and a return on equity of 1.74%. The firm had revenue of $168.65 million for the quarter, compared to analysts’ expectations of $163.19 million. During the same quarter last year, the company earned $0.22 EPS. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, equities research analysts anticipate that Spirit Realty Capital, Inc. will post $0.22 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were paid a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.72 dividend on an annualized basis and a yield of 8.54%. Spirit Realty Capital’s dividend payout ratio is currently 514.29%.

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A number of equities analysts have weighed in on SRC shares. Deutsche Bank AG reiterated a “buy” rating and issued a $10.00 price target (down from $14.00) on shares of Spirit Realty Capital in a research report on Friday, May 5th. BidaskClub upgraded shares of Spirit Realty Capital from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Morgan Stanley lowered shares of Spirit Realty Capital from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $11.50 to $8.40 in a research report on Tuesday, May 9th. ValuEngine lowered shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Sandler O’Neill lowered shares of Spirit Realty Capital from a “buy” rating to a “hold” rating and dropped their price target for the stock from $13.00 to $9.00 in a research report on Thursday, May 4th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $10.67.

In related news, CFO Phillip D. Joseph, Jr. purchased 6,061 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were purchased at an average price of $8.25 per share, with a total value of $50,003.25. Following the purchase, the chief financial officer now owns 138,504 shares of the company’s stock, valued at $1,142,658. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Phillip D. Joseph, Jr. purchased 6,700 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was bought at an average cost of $7.47 per share, for a total transaction of $50,049.00. Following the purchase, the chief financial officer now directly owns 134,868 shares in the company, valued at approximately $1,007,463.96. The disclosure for this purchase can be found here. Insiders purchased a total of 53,497 shares of company stock worth $401,378 in the last three months. 0.50% of the stock is owned by corporate insiders.

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.

Institutional Ownership by Quarter for Spirit Realty Capital (NYSE:SRC)

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