Long Pond Capital LP Has $77.27 Million Position in Spirit Realty Capital Inc (NYSE:SRC)

Long Pond Capital LP grew its holdings in shares of Spirit Realty Capital Inc (NYSE:SRC) by 463.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,811,310 shares of the real estate investment trust’s stock after purchasing an additional 1,489,696 shares during the period. Spirit Realty Capital makes up 2.3% of Long Pond Capital LP’s portfolio, making the stock its 10th biggest holding. Long Pond Capital LP owned 2.07% of Spirit Realty Capital worth $77,270,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of SRC. Bank of Montreal Can boosted its position in shares of Spirit Realty Capital by 40.8% during the 1st quarter. Bank of Montreal Can now owns 32,176 shares of the real estate investment trust’s stock valued at $1,279,000 after purchasing an additional 9,329 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in Spirit Realty Capital during the first quarter valued at about $7,518,000. Global Retirement Partners LLC purchased a new stake in Spirit Realty Capital during the first quarter valued at about $244,000. LSV Asset Management lifted its stake in Spirit Realty Capital by 3.9% during the first quarter. LSV Asset Management now owns 1,472,982 shares of the real estate investment trust’s stock valued at $58,521,000 after buying an additional 55,320 shares in the last quarter. Finally, Great Lakes Advisors LLC purchased a new stake in Spirit Realty Capital during the first quarter valued at about $3,440,000. Institutional investors own 91.84% of the company’s stock.

SRC stock opened at $47.24 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.77. Spirit Realty Capital Inc has a one year low of $33.86 and a one year high of $48.59. The firm has a market capitalization of $4.26 billion, a PE ratio of 12.50 and a beta of 0.39. The firm has a 50-day moving average of $45.92 and a two-hundred day moving average of $42.61.

Spirit Realty Capital (NYSE:SRC) last posted its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.33). The firm had revenue of $115.70 million for the quarter, compared to analysts’ expectations of $108.48 million. Spirit Realty Capital had a net margin of 37.11% and a return on equity of 6.54%. Spirit Realty Capital’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.20 earnings per share. On average, equities research analysts anticipate that Spirit Realty Capital Inc will post 3.14 earnings per share for the current year.

The business also recently declared a — dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.625 dividend. This represents a dividend yield of 5.3%. The ex-dividend date of this dividend is Friday, September 27th. Spirit Realty Capital’s dividend payout ratio (DPR) is 66.14%.

A number of analysts have commented on the stock. Morgan Stanley raised shares of Spirit Realty Capital from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $41.00 to $49.00 in a research note on Wednesday, July 10th. Stifel Nicolaus assumed coverage on shares of Spirit Realty Capital in a research note on Thursday, August 29th. They set a “buy” rating and a $51.50 price objective for the company. ValuEngine lowered shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th. JPMorgan Chase & Co. upped their price objective on shares of Spirit Realty Capital from $41.00 to $44.00 and gave the company a “neutral” rating in a research note on Tuesday, June 4th. Finally, Zacks Investment Research raised shares of Spirit Realty Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $45.30.

In other news, EVP Jay Young sold 10,648 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 18,890 shares of the company’s stock, valued at $864,973.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.92% of the stock is 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.

Further Reading: Front-End Load

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

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