Sigma Planning Corp increased its stake in shares of Spirit Realty Capital, Inc. (NYSE:SRC) by 38.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,949 shares of the real estate investment trust’s stock after buying an additional 6,894 shares during the period. Sigma Planning Corp’s holdings in Spirit Realty Capital were worth $185,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in SRC. World Asset Management Inc raised its position in Spirit Realty Capital by 2.7% in the first quarter. World Asset Management Inc now owns 24,137 shares of the real estate investment trust’s stock valued at $245,000 after buying an additional 640 shares during the last quarter. Swiss National Bank raised its position in Spirit Realty Capital by 1.1% in the first quarter. Swiss National Bank now owns 796,873 shares of the real estate investment trust’s stock valued at $8,072,000 after buying an additional 8,400 shares during the last quarter. Comerica Bank raised its position in Spirit Realty Capital by 12.4% in the first quarter. Comerica Bank now owns 42,816 shares of the real estate investment trust’s stock valued at $420,000 after buying an additional 4,729 shares during the last quarter. Princeton Alpha Management LP bought a new position in Spirit Realty Capital during the first quarter valued at $822,000. Finally, Canada Pension Plan Investment Board raised its position in Spirit Realty Capital by 102.2% in the first quarter. Canada Pension Plan Investment Board now owns 81,100 shares of the real estate investment trust’s stock valued at $822,000 after buying an additional 41,000 shares during the last quarter.
Shares of Spirit Realty Capital, Inc. (NYSE:SRC) opened at 8.41 on Friday. The company has a 50-day moving average price of $7.94 and a 200-day moving average price of $8.92. Spirit Realty Capital, Inc. has a 12 month low of $6.64 and a 12 month high of $13.95. The firm has a market cap of $3.86 billion, a price-to-earnings ratio of 63.71 and a beta of 0.55.
Spirit Realty Capital (NYSE:SRC) last announced its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.21 EPS for the quarter, beating the consensus estimate of $0.20 by $0.01. Spirit Realty Capital had a return on equity of 1.74% and a net margin of 9.47%. The company had revenue of $168.65 million for the quarter, compared to analyst estimates of $163.19 million. During the same quarter in the prior year, the company earned $0.22 EPS. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. Analysts forecast that Spirit Realty Capital, Inc. will post $0.21 earnings per share for the current fiscal year.
Spirit Realty Capital declared that its board has authorized a share repurchase program on Monday, August 14th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to repurchase up to 6.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.
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A number of research firms have recently commented on SRC. UBS AG lowered Spirit Realty Capital from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $12.00 to $9.00 in a research report on Thursday, May 4th. Sandler O’Neill lowered Spirit Realty Capital from a “buy” rating to a “hold” rating and dropped their price target for the stock from $13.00 to $9.00 in a research report on Thursday, May 4th. Ladenburg Thalmann Financial Services lowered Spirit Realty Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, May 4th. Mizuho lowered Spirit Realty Capital from a “neutral” rating to an “underperform” rating in a research report on Thursday, May 4th. Finally, Janney Montgomery Scott lowered Spirit Realty Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, May 4th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Spirit Realty Capital has a consensus rating of “Hold” and a consensus target price of $10.60.
In other news, EVP Boyd Messmann purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The shares were acquired at an average cost of $7.19 per share, with a total value of $71,900.00. Following the purchase, the executive vice president now owns 73,656 shares in the company, valued at $529,586.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jackson Hsieh purchased 13,700 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The shares were purchased at an average cost 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 in the company, valued at approximately $3,969,805.31. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 68,497 shares of company stock worth $528,508. 0.50% of the stock is owned by corporate insiders.
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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