Spirit Realty Capital, Inc. (NYSE:SRC)‘s stock had its “hold” rating restated by equities research analysts at Ladenburg Thalmann Financial Services in a research note issued on Friday.
A number of other equities analysts have also recently weighed in on SRC. UBS AG cut shares of Spirit Realty Capital from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $12.00 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. Royal Bank Of Canada upped their price objective on shares of Spirit Realty Capital from $8.00 to $9.00 and gave the company a “sector perform” rating in a research report on Friday. BidaskClub raised shares of Spirit Realty Capital from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Finally, FBR & Co upped their price objective 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. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $11.34.
Spirit Realty Capital (NYSE:SRC) traded up 3.22% during mid-day trading on Friday, reaching $8.34. The company’s stock had a trading volume of 32,926,810 shares. Spirit Realty Capital has a 1-year low of $6.64 and a 1-year high of $13.97. The stock has a market capitalization of $4.04 billion, a P/E ratio of 46.33 and a beta of 0.55. The stock’s 50 day moving average price is $7.66 and its 200 day moving average price is $9.11.
Spirit Realty Capital (NYSE:SRC) last announced its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $168.65 million during the quarter, compared to analysts’ expectations of $163.19 million. Spirit Realty Capital had a net margin of 9.47% and a return on equity of 1.70%. The firm’s revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.22 EPS. Analysts expect that Spirit Realty Capital will post $0.23 EPS for the current fiscal year.
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In other news, insider Jackson Hsieh purchased 13,700 shares of the company’s stock in a transaction on Wednesday, May 24th. The shares were bought at an average price of $7.27 per share, for a total transaction of $99,599.00. Following the completion of the purchase, the insider now owns 546,053 shares of the company’s stock, valued at $3,969,805.31. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Phillip D. Joseph, Jr. purchased 6,700 shares of the company’s stock in a transaction on Friday, June 2nd. The stock was purchased at an average price of $7.47 per share, for a total transaction of $50,049.00. Following the purchase, the chief financial officer now directly owns 134,868 shares of the company’s stock, valued at approximately $1,007,463.96. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 43,800 shares of company stock worth $321,378. 0.50% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Spirit Realty Capital by 2.6% in the first quarter. Vanguard Group Inc. now owns 76,711,434 shares of the real estate investment trust’s stock valued at $777,087,000 after buying an additional 1,910,294 shares during the period. Principal Financial Group Inc. boosted its position in Spirit Realty Capital by 0.8% in the first quarter. Principal Financial Group Inc. now owns 15,968,716 shares of the real estate investment trust’s stock valued at $161,945,000 after buying an additional 120,915 shares during the period. State Street Corp boosted its position in Spirit Realty Capital by 2.7% in the first quarter. State Street Corp now owns 9,460,492 shares of the real estate investment trust’s stock valued at $95,831,000 after buying an additional 248,781 shares during the period. Prudential Financial Inc. boosted its position in Spirit Realty Capital by 3,886.7% in the first quarter. Prudential Financial Inc. now owns 7,934,149 shares of the real estate investment trust’s stock valued at $80,373,000 after buying an additional 7,735,135 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Spirit Realty Capital by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 6,580,236 shares of the real estate investment trust’s stock valued at $66,656,000 after buying an additional 133,962 shares during the period. Institutional investors own 99.93% 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.
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