KRV Capital LP Sells 284,900 Shares of Spirit Realty Capital, Inc. (SRC)

KRV Capital LP lowered its position in shares of Spirit Realty Capital, Inc. (NYSE:SRC) by 12.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,090,100 shares of the real estate investment trust’s stock after selling 284,900 shares during the period. Spirit Realty Capital makes up approximately 6.1% of KRV Capital LP’s portfolio, making the stock its 6th largest position. KRV Capital LP owned 0.43% of Spirit Realty Capital worth $15,488,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC purchased a new stake in Spirit Realty Capital during the first quarter worth $109,000. Penserra Capital Management LLC increased its stake in Spirit Realty Capital by 51.5% in the first quarter. Penserra Capital Management LLC now owns 11,730 shares of the real estate investment trust’s stock worth $118,000 after buying an additional 3,986 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Spirit Realty Capital by 24.0% in the first quarter. PNC Financial Services Group Inc. now owns 11,684 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 2,265 shares in the last quarter. Toronto Dominion Bank purchased a new stake in Spirit Realty Capital during the first quarter worth $141,000. Finally, Investment Centers of America Inc. increased its stake in Spirit Realty Capital by 2.6% in the first quarter. Investment Centers of America Inc. now owns 13,850 shares of the real estate investment trust’s stock worth $141,000 after buying an additional 350 shares in the last quarter. 99.93% of the stock is owned by institutional investors and hedge funds.

Shares of Spirit Realty Capital, Inc. (NYSE SRC) opened at 7.93 on Thursday. The firm has a market cap of $3.84 billion, a P/E ratio of 44.06 and a beta of 0.54. Spirit Realty Capital, Inc. has a 12 month low of $6.64 and a 12 month high of $13.97. The stock’s 50 day moving average is $7.66 and its 200 day moving average is $9.11.

Spirit Realty Capital (NYSE:SRC) last posted its earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 business had revenue of $163.19 million for the quarter, compared to analysts’ expectations of $169.84 million. Equities research analysts expect that Spirit Realty Capital, Inc. will post $0.22 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were paid a dividend of $0.18 per share. The ex-dividend date was Wednesday, June 28th. This represents a $0.72 annualized dividend and a dividend yield of 9.08%. Spirit Realty Capital’s dividend payout ratio (DPR) is presently 378.97%.

COPYRIGHT VIOLATION NOTICE: “[[title]]” was originally reported by [[site]] and is the property of of [[site]]. If you are viewing this article on another publication, it was copied illegally and republished in violation of U.S. and international copyright and trademark legislation. The legal version of this article can be viewed at [[permalink]].

A number of research firms have weighed in on SRC. FBR & Co increased their target price on shares of Spirit Realty Capital from $8.00 to $13.00 and gave the company an “outperform” rating in a research report on Friday, May 5th. BidaskClub raised shares of Spirit Realty Capital from a “hold” rating to a “buy” rating in a research report on Monday. J P Morgan Chase & Co downgraded shares of Spirit Realty Capital from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $13.00 to $9.00 in a research report on Thursday, May 4th. Zacks Investment Research raised shares of Spirit Realty Capital from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, Sandler O’Neill downgraded shares of Spirit Realty Capital from a “buy” rating to a “hold” rating and decreased their target price for the company from $13.00 to $9.00 in a research report on Thursday, May 4th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $11.53.

In other Spirit Realty Capital news, CFO Phillip D. Joseph, Jr. bought 6,700 shares of Spirit Realty Capital stock in a transaction dated Friday, June 2nd. The shares were purchased at an average cost of $7.47 per share, with a total value of $50,049.00. Following the completion of the purchase, the chief financial officer now owns 134,868 shares of the company’s stock, valued at $1,007,463.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Boyd Messmann bought 10,000 shares of Spirit Realty Capital stock in a transaction dated Wednesday, May 24th. The shares were acquired at an average cost of $7.19 per share, for a total transaction of $71,900.00. Following the completion of the purchase, the executive vice president now directly owns 73,656 shares of the company’s stock, valued at approximately $529,586.64. The disclosure for this purchase can be found here. Insiders have bought 43,800 shares of company stock worth $321,378 over the last three months. Insiders own 0.50% of the company’s stock.

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.

Want to see what other hedge funds are holding SRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spirit Realty Capital, Inc. (NYSE:SRC).