Fmr LLC Sells 11,331,841 Shares of Spirit Realty Capital, Inc. (SRC)

Fmr LLC lessened its holdings in shares of Spirit Realty Capital, Inc. (NYSE:SRC) by 53.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,808,400 shares of the real estate investment trust’s stock after selling 11,331,841 shares during the period. Fmr LLC owned approximately 2.03% of Spirit Realty Capital worth $72,680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of SRC. New England Investment & Retirement Group Inc. purchased a new position in shares of Spirit Realty Capital during the second quarter worth $100,000. Vivaldi Capital Management LLC purchased a new position in shares of Spirit Realty Capital during the second quarter worth $111,000. PNC Financial Services Group Inc. raised its holdings in shares of Spirit Realty Capital by 24.0% during 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 purchasing an additional 2,265 shares during the last quarter. Chicago Equity Partners LLC purchased a new position in shares of Spirit Realty Capital during the second quarter worth $119,000. Finally, Harvest Fund Management Co. Ltd raised its holdings in shares of Spirit Realty Capital by 123.3% during the second quarter. Harvest Fund Management Co. Ltd now owns 16,662 shares of the real estate investment trust’s stock worth $123,000 after purchasing an additional 9,200 shares during the last quarter. 94.63% of the stock is owned by hedge funds and other institutional investors.

SRC has been the subject of several recent research reports. BidaskClub raised shares of Spirit Realty Capital from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Mizuho raised shares of Spirit Realty Capital from an “underperform” rating to a “neutral” rating and set a $7.50 target price for the company in a report on Monday, July 10th. Zacks Investment Research raised shares of Spirit Realty Capital from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Royal Bank Of Canada lifted their price objective on shares of Spirit Realty Capital from $8.00 to $9.00 and gave the company a “sector perform” rating in a report on Friday, August 4th. Finally, Ladenburg Thalmann Financial Services reaffirmed a “hold” rating on shares of Spirit Realty Capital in a report on Friday, August 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Spirit Realty Capital has an average rating of “Hold” and an average target price of $9.88.

ILLEGAL ACTIVITY NOTICE: This report was posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this report on another site, it was copied illegally and reposted in violation of international trademark and copyright law. The correct version of this report can be read at https://sportsperspectives.com/2017/10/14/fmr-llc-sells-11331841-shares-of-spirit-realty-capital-inc-src.html.

Spirit Realty Capital, Inc. (NYSE SRC) opened at 8.57 on Friday. The company’s 50-day moving average is $8.56 and its 200-day moving average is $8.36. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 64.92 and a beta of 0.53. Spirit Realty Capital, Inc. has a 52-week low of $6.64 and a 52-week high of $12.77.

Spirit Realty Capital (NYSE:SRC) last issued its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate 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 period in the prior year, the company earned $0.22 EPS. The firm’s revenue was down 1.8% on a year-over-year basis. Equities analysts predict that Spirit Realty Capital, Inc. will post $0.21 earnings per share for the current year.

Spirit Realty Capital announced that its board has initiated a stock buyback program on Monday, August 14th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to purchase up to 6.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

The company also recently declared a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were paid a dividend of $0.18 per share. The ex-dividend date was Thursday, September 28th. This represents a $0.72 annualized dividend and a dividend yield of 8.40%. Spirit Realty Capital’s dividend payout ratio is currently 514.29%.

In other news, Director Todd A. Dunn purchased 14,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were bought at an average cost of $8.49 per share, with a total value of $118,860.00. Following the purchase, the director now directly owns 64,560 shares of the company’s stock, valued at $548,114.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Phillip D. Joseph, Jr. purchased 3,636 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were purchased at an average cost of $8.25 per share, for a total transaction of $29,997.00. Following the completion of the purchase, the chief financial officer now directly owns 138,504 shares in the company, valued at $1,142,658. The disclosure for this purchase can be found here. Insiders have acquired a total of 24,697 shares of company stock worth $207,130 over the last ninety days. 0.50% of the stock is owned by corporate insiders.

Spirit Realty Capital 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.

Want to see what other hedge funds are holding SRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spirit Realty Capital, Inc. (NYSE:SRC).

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

Receive News & Ratings for Spirit Realty Capital Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit Realty Capital Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply