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.
COPYRIGHT VIOLATION WARNING: This piece of content was posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of international copyright laws. The legal version of this piece of content can be accessed at https://stocknewstimes.com/2017/11/16/spirit-realty-capital-inc-src-given-a-9-00-price-target-by-b-riley-analysts.html.
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.
Receive News & Ratings for Spirit Realty Capital Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit Realty Capital Inc. and related companies with MarketBeat.com's FREE daily email newsletter.