Spirit Realty Capital, Inc. (NYSE:SRC) CFO Phillip D. Joseph, Jr. purchased 6,061 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was acquired at an average price of $8.25 per share, for a total transaction of $50,003.25. Following the completion of the purchase, the chief financial officer now owns 138,504 shares of the company’s stock, valued at $1,142,658. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Spirit Realty Capital, Inc. (NYSE:SRC) traded down 1.43% during mid-day trading on Friday, hitting $8.26. The stock had a trading volume of 13,377,987 shares. The stock has a market cap of $3.79 billion, a P/E ratio of 62.58 and a beta of 0.55. Spirit Realty Capital, Inc. has a one year low of $6.64 and a one year high of $13.95. The company has a 50 day moving average price of $7.81 and a 200 day moving average price of $8.99.
Spirit Realty Capital (NYSE:SRC) last issued its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The business had revenue of $168.65 million for the quarter, compared to analyst estimates of $163.19 million. Spirit Realty Capital had a net margin of 9.47% and a return on equity of 1.74%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.22 EPS. On average, equities analysts anticipate that Spirit Realty Capital, Inc. will post $0.22 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were paid a $0.18 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 8.72%. Spirit Realty Capital’s dividend payout ratio (DPR) is presently 514.29%.
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A number of analysts have weighed in on SRC shares. Ladenburg Thalmann Financial Services cut Spirit Realty Capital from a “buy” rating to a “neutral” rating in a research note on Thursday, May 4th. BidaskClub upgraded Spirit Realty Capital from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. 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 research note on Tuesday, May 9th. Capital One Financial Corporation cut Spirit Realty Capital from an “equal weight” rating to an “underweight” rating in a research note on Thursday, May 4th. Finally, Mizuho cut Spirit Realty Capital from a “neutral” rating to an “underperform” rating in a research note on Thursday, May 4th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. Spirit Realty Capital currently has an average rating of “Hold” and a consensus price target of $10.67.
Several large investors have recently modified their holdings of SRC. Financial & Investment Management Group Ltd. bought a new stake in shares of Spirit Realty Capital during the first quarter worth about $4,797,000. Quantitative Systematic Strategies LLC raised its stake in shares of Spirit Realty Capital by 124.4% in the first quarter. Quantitative Systematic Strategies LLC now owns 215,610 shares of the real estate investment trust’s stock worth $2,184,000 after buying an additional 119,515 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Spirit Realty Capital by 147.6% in the first quarter. State of Alaska Department of Revenue now owns 227,821 shares of the real estate investment trust’s stock worth $2,307,000 after buying an additional 135,800 shares during the period. IFC Holdings Incorporated FL raised its stake in shares of Spirit Realty Capital by 9.2% in the first quarter. IFC Holdings Incorporated FL now owns 23,778 shares of the real estate investment trust’s stock worth $241,000 after buying an additional 2,000 shares during the period. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Spirit Realty Capital during the first quarter worth about $109,000. Institutional investors and hedge funds own 93.75% 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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