Stevens Capital Management LP increased its stake in Spirit Realty Capital Inc (NYSE:SRC) by 44.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 39,283 shares of the real estate investment trust’s stock after acquiring an additional 12,018 shares during the period. Stevens Capital Management LP’s holdings in Spirit Realty Capital were worth $1,676,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of SRC. LSV Asset Management raised its position in shares of Spirit Realty Capital by 3.9% during the 1st quarter. LSV Asset Management now owns 1,472,982 shares of the real estate investment trust’s stock valued at $58,521,000 after acquiring an additional 55,320 shares during the last quarter. Duff & Phelps Investment Management Co. raised its position in shares of Spirit Realty Capital by 104.7% during the 1st quarter. Duff & Phelps Investment Management Co. now owns 937,300 shares of the real estate investment trust’s stock valued at $37,239,000 after acquiring an additional 479,420 shares during the last quarter. Long Pond Capital LP bought a new stake in shares of Spirit Realty Capital during the 1st quarter valued at $12,778,000. Parametric Portfolio Associates LLC raised its position in shares of Spirit Realty Capital by 4.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 296,172 shares of the real estate investment trust’s stock valued at $11,767,000 after acquiring an additional 12,175 shares during the last quarter. Finally, Morningstar Investment Services LLC acquired a new position in shares of Spirit Realty Capital in the 1st quarter valued at $11,716,000. Hedge funds and other institutional investors own 90.09% of the company’s stock.
Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Spirit Realty Capital from $41.00 to $44.00 and gave the company a “neutral” rating in a report on Tuesday, June 4th. Morgan Stanley raised shares of Spirit Realty Capital from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $41.00 to $49.00 in a report on Wednesday, July 10th. Zacks Investment Research raised shares of Spirit Realty Capital from a “sell” rating to a “hold” rating in a report on Friday, August 9th. ValuEngine lowered shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. Finally, Deutsche Bank lowered shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Spirit Realty Capital presently has an average rating of “Hold” and a consensus price target of $43.75.
Spirit Realty Capital (NYSE:SRC) last announced its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.33). Spirit Realty Capital had a net margin of 37.11% and a return on equity of 6.54%. The firm had revenue of $115.70 million during the quarter, compared to analyst estimates of $108.48 million. During the same period last year, the firm earned $0.20 EPS. Spirit Realty Capital’s quarterly revenue was up 12.9% on a year-over-year basis. On average, analysts expect that Spirit Realty Capital Inc will post 3.18 earnings per share for the current year.
In related news, EVP Jay Young sold 10,648 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $45.79, for a total value of $487,571.92. Following the completion of the transaction, the executive vice president now directly owns 18,890 shares of the company’s stock, valued at approximately $864,973.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.92% of the stock is currently owned by corporate insiders.
Spirit Realty Capital Company Profile
Spirit Realty Capital, Inc (NYSE: SRC) is a premier net-lease REIT that primarily invests in high-quality, operationally essential real estate, subject to long-term, net leases. Over the past decade, Spirit has become an industry leader and owner of income-producing, strategically located retail, industrial, office and data center properties.
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