Spirit Realty Capital, Inc. (SRC) Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D raised its position in Spirit Realty Capital, Inc. (NYSE:SRC) by 27.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 493,000 shares of the real estate investment trust’s stock after buying an additional 105,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Spirit Realty Capital were worth $3,653,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in SRC. Quantitative Systematic Strategies LLC increased its position 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 last quarter. State of Alaska Department of Revenue increased its position 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 last quarter. IFC Holdings Incorporated FL increased its position 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 last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Spirit Realty Capital during the first quarter worth $109,000. Finally, Paragon Capital Management Ltd acquired a new position in shares of Spirit Realty Capital during the first quarter worth $154,000.

Spirit Realty Capital, Inc. (SRC) opened at 8.48 on Wednesday. Spirit Realty Capital, Inc. has a 1-year low of $6.64 and a 1-year high of $13.95. The company has a 50-day moving average price of $7.85 and a 200 day moving average price of $8.94. The stock has a market cap of $3.89 billion, a P/E ratio of 64.24 and a beta of 0.55.

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, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.01. Spirit Realty Capital had a net margin of 9.47% and a return on equity of 1.74%. The company had revenue of $168.65 million for the quarter, compared to analysts’ expectations of $163.19 million. During the same quarter last year, the company posted $0.22 earnings per share. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. Equities analysts expect that Spirit Realty Capital, Inc. will post $0.22 earnings per share for the current fiscal year.

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A number of equities analysts have recently weighed in on SRC shares. J P Morgan Chase & Co downgraded Spirit Realty Capital from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $13.00 to $9.00 in a research note on Thursday, May 4th. Janney Montgomery Scott downgraded Spirit Realty Capital from a “buy” rating to a “neutral” rating in a research note on Thursday, May 4th. Mizuho downgraded Spirit Realty Capital from a “neutral” rating to an “underperform” rating in a research note on Thursday, May 4th. Ladenburg Thalmann Financial Services downgraded Spirit Realty Capital from a “buy” rating to a “neutral” rating in a research note on Thursday, May 4th. Finally, Sandler O’Neill downgraded Spirit Realty Capital from a “buy” rating to a “hold” rating and cut their target price for the stock from $13.00 to $9.00 in a research note on Thursday, May 4th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $10.67.

In other Spirit Realty Capital news, insider Jackson Hsieh purchased 13,700 shares of the company’s stock in a transaction dated Wednesday, May 24th. The shares were acquired at an average price of $7.27 per share, for a total transaction of $99,599.00. Following the purchase, the insider now directly owns 546,053 shares of the company’s stock, valued at approximately $3,969,805.31. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Boyd Messmann purchased 10,000 shares of the company’s stock in a transaction dated Wednesday, May 24th. The shares were acquired at an average price of $7.19 per share, for a total transaction of $71,900.00. Following the purchase, the executive vice president now directly owns 73,656 shares in the company, valued at $529,586.64. The disclosure for this purchase can be found here. Insiders purchased 68,497 shares of company stock worth $528,508 in the last 90 days. 0.50% of the stock is currently owned by corporate insiders.

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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