Spirit Realty Capital, Inc. (SRC) Given a $9.00 Price Target by B. Riley Analysts

Spirit Realty Capital, Inc. (NYSE:SRC) received a $9.00 price objective from B. Riley in a research note issued on Tuesday. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. B. Riley’s target price points to a potential upside of 6.26% from the stock’s current price.

SRC has been the topic of several other reports. Royal Bank Of Canada increased their price objective on shares of Spirit Realty Capital from $8.00 to $9.00 and gave the company a “sector perform” rating in a research report on Friday, August 4th. ValuEngine downgraded shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub raised shares of Spirit Realty Capital from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Mizuho raised shares of Spirit Realty Capital from a “neutral” rating to a “buy” rating and increased their price objective for the company from $7.50 to $9.00 in a research report on Thursday, August 31st. Finally, Ladenburg Thalmann Financial Services reissued a “hold” rating on shares of Spirit Realty Capital in a research report on Monday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $9.47.

Shares of Spirit Realty Capital (SRC) traded down $0.11 during mid-day trading on Tuesday, reaching $8.47. 5,339,900 shares of the company traded hands, compared to its average volume of 10,463,259. Spirit Realty Capital has a one year low of $6.64 and a one year high of $11.29. The stock has a market cap of $3,911.60, a P/E ratio of 10.09 and a beta of 0.56. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.19.

Spirit Realty Capital declared that its Board of Directors has authorized a stock buyback program on Monday, August 14th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to buy up to 6.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

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Large investors have recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its stake in shares of Spirit Realty Capital by 24.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 11,684 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 2,265 shares during the period. New England Investment & Retirement Group Inc. bought a new stake in Spirit Realty Capital during the 2nd quarter worth approximately $100,000. Vivaldi Capital Management LLC bought a new stake in Spirit Realty Capital during the 2nd quarter worth approximately $111,000. Chicago Equity Partners LLC bought a new stake in Spirit Realty Capital during the 2nd quarter worth approximately $119,000. Finally, Arete Wealth Advisors LLC raised its stake in Spirit Realty Capital by 12.5% during the 2nd quarter. Arete Wealth Advisors LLC now owns 16,583 shares of the real estate investment trust’s stock worth $123,000 after acquiring an additional 1,838 shares during the period. Hedge funds and other institutional investors own 92.86% of the company’s stock.

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.

Analyst Recommendations for Spirit Realty Capital (NYSE:SRC)

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