Spirit Realty Capital, Inc. (SRC) Forecasted to Post FY2017 Earnings of $0.82 Per Share

Spirit Realty Capital, Inc. (NYSE:SRC) – Investment analysts at SunTrust Banks issued their FY2017 earnings per share estimates for shares of Spirit Realty Capital in a research note issued to investors on Sunday. SunTrust Banks analyst K. Kim anticipates that the real estate investment trust will post earnings of $0.82 per share for the year. SunTrust Banks also issued estimates for Spirit Realty Capital’s Q4 2017 earnings at $0.20 EPS, FY2018 earnings at $0.83 EPS, FY2019 earnings at $0.83 EPS, FY2020 earnings at $0.84 EPS and FY2021 earnings at $0.86 EPS.

A number of other research firms have also recently commented on SRC. Bank of America Corporation upgraded Spirit Realty Capital from an “underperform” rating to a “buy” rating and upped their price objective for the company from $6.50 to $9.75 in a research report on Wednesday, August 16th. ValuEngine cut Spirit Realty Capital from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Mizuho upgraded Spirit Realty Capital from an “underperform” rating to a “neutral” rating and set a $7.50 price objective for the company in a research report on Monday, July 10th. Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of Spirit Realty Capital in a research report on Friday, August 4th. Finally, BidaskClub upgraded Spirit Realty Capital from a “sell” rating to a “hold” rating in a research report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $9.92.

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Shares of Spirit Realty Capital (NYSE SRC) opened at 8.56 on Wednesday. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of 64.85 and a beta of 0.53. Spirit Realty Capital has a one year low of $6.64 and a one year high of $13.86. The company has a 50-day moving average price of $8.48 and a 200 day moving average price of $8.56.

Spirit Realty Capital (NYSE:SRC) last announced its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.21 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $163.19 million. During the same quarter last year, the firm posted $0.22 EPS. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis.

Several large investors have recently added to or reduced their stakes in the stock. World Asset Management Inc grew its position in shares of Spirit Realty Capital by 0.4% during the second quarter. World Asset Management Inc now owns 24,245 shares of the real estate investment trust’s stock worth $180,000 after purchasing an additional 108 shares in the last quarter. Cornerstone Wealth Management LLC grew its position in shares of Spirit Realty Capital by 0.5% during the first quarter. Cornerstone Wealth Management LLC now owns 22,501 shares of the real estate investment trust’s stock worth $232,000 after purchasing an additional 120 shares in the last quarter. Lincoln National Corp grew its position in shares of Spirit Realty Capital by 1.3% during the second quarter. Lincoln National Corp now owns 18,259 shares of the real estate investment trust’s stock worth $136,000 after purchasing an additional 232 shares in the last quarter. Investment Centers of America Inc. grew its position in shares of Spirit Realty Capital by 2.6% during the first quarter. Investment Centers of America Inc. now owns 13,850 shares of the real estate investment trust’s stock worth $141,000 after purchasing an additional 350 shares in the last quarter. Finally, Telos Capital Management Inc. grew its position in shares of Spirit Realty Capital by 1.0% during the second quarter. Telos Capital Management Inc. now owns 49,633 shares of the real estate investment trust’s stock worth $368,000 after purchasing an additional 510 shares in the last quarter. Hedge funds and other institutional investors own 94.12% of the company’s stock.

In other Spirit Realty Capital news, CFO Phillip D. Joseph, Jr. bought 3,636 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was purchased at an average price of $8.25 per share, for a total transaction of $29,997.00. Following the completion of the transaction, the chief financial officer now owns 138,504 shares of the company’s stock, valued at approximately $1,142,658. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Todd A. Dunn bought 14,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were acquired at an average price of $8.49 per share, with a total value of $118,860.00. Following the transaction, the director now directly owns 64,560 shares of the company’s stock, valued at approximately $548,114.40. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 24,697 shares of company stock valued at $207,130. Company insiders own 0.50% of the company’s stock.

Spirit Realty Capital announced that its board has initiated a stock repurchase program on Monday, August 14th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the real estate investment trust to reacquire up to 6.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 8.31%. The ex-dividend date is Thursday, September 28th. Spirit Realty Capital’s payout ratio is 514.29%.

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.

Earnings History and Estimates for Spirit Realty Capital (NYSE:SRC)

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