Shares of Spirit Realty Capital, Inc (NYSE:SRC) have been given a consensus recommendation of “Hold” by the eighteen research firms that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $10.89.
Several equities research analysts recently commented on the company. UBS AG cut Spirit Realty Capital from a “buy” rating to a “neutral” rating and cut their price target for the company from $12.00 to $9.00 in a report on Thursday, May 4th. BidaskClub raised Spirit Realty Capital from a “sell” rating to a “hold” rating in a report on Friday, July 14th. Mizuho raised Spirit Realty Capital from an “underperform” rating to a “neutral” rating and set a $7.50 price target for the company in a report on Monday, July 10th. FBR & Co increased their price target on Spirit Realty Capital from $8.00 to $13.00 and gave the company an “outperform” rating in a report on Friday, May 5th. Finally, Morgan Stanley cut Spirit Realty Capital from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $11.50 to $8.40 in a report on Tuesday, May 9th.
Spirit Realty Capital (SRC) traded up 0.89% during trading on Tuesday, hitting $7.93. The stock had a trading volume of 7,180,404 shares. The company’s 50 day moving average is $7.57 and its 200-day moving average is $9.24. The company has a market cap of $3.84 billion, a PE ratio of 44.06 and a beta of 0.53. Spirit Realty Capital has a 12 month low of $6.64 and a 12 month high of $13.97.
Spirit Realty Capital (NYSE:SRC) last posted its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.20 EPS for the quarter, missing the consensus estimate of $0.22 by $0.02. Spirit Realty Capital had a net margin of 13.28% and a return on equity of 2.10%. The company had revenue of $163.19 million during the quarter, compared to analyst estimates of $169.84 million. On average, equities research analysts predict that Spirit Realty Capital will post $0.22 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.72 annualized dividend and a yield of 9.08%. Spirit Realty Capital’s dividend payout ratio (DPR) is 378.97%.
In other Spirit Realty Capital news, EVP Boyd Messmann bought 10,000 shares of the business’s stock in a transaction on Wednesday, May 24th. The stock was bought at an average price of $7.19 per share, with a total value of $71,900.00. Following the completion of the purchase, the executive vice president now directly owns 73,656 shares in the company, valued at $529,586.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jackson Hsieh bought 13,400 shares of the business’s stock in a transaction on Monday, June 5th. The shares were acquired at an average cost of $7.45 per share, with a total value of $99,830.00. Following the purchase, the insider now owns 559,453 shares of the company’s stock, valued at $4,167,924.85. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 43,800 shares of company stock valued at $321,378. 0.50% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of SRC. Canada Pension Plan Investment Board boosted its stake in Spirit Realty Capital by 102.2% in the first quarter. Canada Pension Plan Investment Board now owns 81,100 shares of the real estate investment trust’s stock valued at $822,000 after buying an additional 41,000 shares during the period. BB&T Corp raised its position in Spirit Realty Capital by 10.4% in the first quarter. BB&T Corp now owns 31,222 shares of the real estate investment trust’s stock valued at $316,000 after buying an additional 2,937 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its position in Spirit Realty Capital by 13.0% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,486,418 shares of the real estate investment trust’s stock valued at $15,057,000 after buying an additional 170,865 shares in the last quarter. DUPONT CAPITAL MANAGEMENT Corp purchased a new position in Spirit Realty Capital during the first quarter valued at approximately $1,049,000. Finally, State of New Jersey Common Pension Fund D raised its position in Spirit Realty Capital by 46.4% in the first quarter. State of New Jersey Common Pension Fund D now owns 388,000 shares of the real estate investment trust’s stock valued at $3,931,000 after buying an additional 123,000 shares in the last quarter.
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.
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