Schroder Investment Management Group purchased a new stake in Spirit Realty Capital, Inc (NYSE:SRC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 58,605 shares of the real estate investment trust’s stock, valued at approximately $491,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Vivaldi Capital Management LLC acquired a new stake in Spirit Realty Capital in the 2nd quarter valued at $111,000. Chicago Equity Partners LLC acquired a new stake in Spirit Realty Capital in the 2nd quarter valued at $119,000. Arete Wealth Advisors LLC grew its position in Spirit Realty Capital by 12.5% in the 2nd quarter. Arete Wealth Advisors LLC now owns 16,583 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 1,838 shares during the period. Harvest Fund Management Co. Ltd grew its position in Spirit Realty Capital by 123.3% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 16,662 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 9,200 shares during the period. Finally, Lincoln National Corp grew its position in Spirit Realty Capital by 1.3% in the 2nd quarter. Lincoln National Corp now owns 18,259 shares of the real estate investment trust’s stock valued at $136,000 after purchasing an additional 232 shares during the period. 92.68% of the stock is owned by institutional investors and hedge funds.
SRC has been the subject of several research reports. Mizuho raised shares of Spirit Realty Capital from a “neutral” rating to a “buy” rating and lifted their price target for the company from $7.50 to $9.00 in a research report on Thursday, August 31st. B. Riley set a $9.00 price objective on Spirit Realty Capital and gave the company a “buy” rating in a research note on Tuesday, November 14th. Deutsche Bank restated a “buy” rating and set a $11.00 price objective on shares of Spirit Realty Capital in a research note on Friday, October 20th. FBR & Co restated a “buy” rating on shares of Spirit Realty Capital in a research note on Friday, October 20th. Finally, Zacks Investment Research upgraded Spirit Realty Capital from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a research note on Thursday, October 12th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $9.47.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 8.38%. The ex-dividend date of this dividend is Thursday, December 28th. Spirit Realty Capital’s payout ratio is 800.00%.
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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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