Spirit Realty Capital (SRC) Given Daily News Impact Score of 0.16

News coverage about Spirit Realty Capital (NYSE:SRC) has been trending somewhat positive on Thursday, according to Accern Sentiment. The research group ranks the sentiment of media coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Spirit Realty Capital earned a daily sentiment score of 0.16 on Accern’s scale. Accern also assigned news stories about the real estate investment trust an impact score of 45 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.

Here are some of the news stories that may have impacted Accern Sentiment’s analysis:

SRC has been the topic of several analyst reports. Mizuho upgraded shares of Spirit Realty Capital from a “neutral” rating to a “buy” rating and upped their price target for the company from $7.50 to $9.00 in a report on Thursday, August 31st. ValuEngine downgraded shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub downgraded shares of Spirit Realty Capital from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Deutsche Bank AG reiterated a “buy” rating and set a $11.00 price target on shares of Spirit Realty Capital in a report on Friday, October 20th. Finally, Bank of America Corporation upgraded shares of Spirit Realty Capital from an “underperform” rating to a “buy” rating and upped their price target for the company from $6.50 to $9.75 in a report on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Spirit Realty Capital currently has a consensus rating of “Hold” and an average price target of $9.97.

Spirit Realty Capital (NYSE:SRC) last issued its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.21 EPS for the quarter, topping 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 company had revenue of $168.65 million for the quarter, compared to the consensus estimate of $163.19 million. During the same period in the previous year, the firm earned $0.22 earnings per share. Spirit Realty Capital’s quarterly revenue was down 1.8% compared to the same quarter last year.

Spirit Realty Capital announced that its Board of Directors has authorized a share repurchase plan on Monday, August 14th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the real estate investment trust to repurchase up to 6.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 8.66%. The ex-dividend date was Thursday, September 28th. Spirit Realty Capital’s dividend payout ratio is presently 514.29%.

In related news, CFO Phillip D. Joseph, Jr. purchased 3,636 shares of the company’s stock in a transaction on Monday, August 7th. The stock was acquired at an average cost of $8.25 per share, for a total transaction of $29,997.00. Following the completion of the transaction, the chief financial officer now directly owns 138,504 shares in the company, valued at $1,142,658. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Todd A. Dunn purchased 14,000 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were bought at an average price of $8.49 per share, with a total value of $118,860.00. Following the completion of the transaction, the director now owns 64,560 shares of the company’s stock, valued at $548,114.40. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 24,697 shares of company stock valued at $207,130. Company insiders own 0.50% of the company’s stock.

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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.

Insider Buying and Selling by Quarter for Spirit Realty Capital (NYSE:SRC)

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