Equities analysts expect Spirit Realty Capital, Inc. (NYSE:SRC) to report earnings per share (EPS) of $0.20 for the current quarter, Zacks reports. Six analysts have made estimates for Spirit Realty Capital’s earnings. The lowest EPS estimate is $0.19 and the highest is $0.21. Spirit Realty Capital reported earnings of $0.22 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 9.1%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, November 1st.
On average, analysts expect that Spirit Realty Capital will report full-year earnings of $0.80 per share for the current fiscal year, with EPS estimates ranging from $0.76 to $0.84. For the next fiscal year, analysts forecast that the company will report earnings of $0.80 per share, with EPS estimates ranging from $0.72 to $0.83. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Spirit Realty Capital.
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 for the quarter, beating the consensus estimate of $0.20 by $0.01. The company had revenue of $168.65 million during the quarter, compared to analysts’ expectations of $163.19 million. Spirit Realty Capital had a return on equity of 1.74% and a net margin of 9.47%. Spirit Realty Capital’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.22 EPS.
SRC has been the topic of several research reports. Deutsche Bank AG reaffirmed a “buy” rating and issued a $10.00 target price (down from $14.00) on shares of Spirit Realty Capital in a report on Friday, May 5th. BidaskClub raised Spirit Realty Capital from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Morgan Stanley cut Spirit Realty Capital from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $11.50 to $8.40 in a report on Tuesday, May 9th. ValuEngine cut Spirit Realty Capital from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Sandler O’Neill cut Spirit Realty Capital from a “buy” rating to a “hold” rating and reduced their target price for the stock from $13.00 to $9.00 in a report on Thursday, May 4th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $11.34.
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Shares of Spirit Realty Capital (NYSE SRC) traded up 1.57% during midday trading on Wednesday, reaching $8.43. The company had a trading volume of 7,808,438 shares. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of 46.83 and a beta of 0.55. Spirit Realty Capital has a 52 week low of $6.64 and a 52 week high of $13.95. The stock has a 50-day moving average of $7.70 and a 200 day moving average of $9.09.
The business also recently disclosed 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 was Wednesday, June 28th. This represents a $0.72 annualized dividend and a yield of 8.54%. Spirit Realty Capital’s payout ratio is currently 514.29%.
In other Spirit Realty Capital news, EVP Boyd Messmann bought 10,000 shares of the business’s stock in a transaction dated Wednesday, May 24th. The shares were purchased 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 owns 73,656 shares in the company, valued at approximately $529,586.64. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Phillip D. Joseph, Jr. bought 6,700 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were acquired at an average cost of $7.47 per share, for a total transaction of $50,049.00. Following the purchase, the chief financial officer now 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. Insiders have acquired 43,800 shares of company stock worth $321,378 over the last three months. 0.50% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New England Investment & Retirement Group Inc. acquired a new position in Spirit Realty Capital during the second quarter worth approximately $100,000. Janney Montgomery Scott LLC acquired a new position in Spirit Realty Capital during the first quarter worth approximately $109,000. Vivaldi Capital Management LLC acquired a new position in Spirit Realty Capital during the second quarter worth approximately $111,000. Penserra Capital Management LLC boosted its position 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. Finally, PNC Financial Services Group Inc. boosted its position 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. 93.75% of the stock is currently owned by hedge funds and other institutional investors.
Spirit Realty Capital Company Profile
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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