Ladenburg Thalmann Financial Services Reaffirms “Hold” Rating for Spirit Realty Capital, Inc. (SRC)

Ladenburg Thalmann Financial Services reissued their hold rating on shares of Spirit Realty Capital, Inc. (NYSE:SRC) in a research note released on Monday.

A number of other equities analysts have also recently issued reports on the stock. Robert W. Baird cut shares of Spirit Realty Capital from an outperform rating to a neutral rating and reduced their price objective for the company from $10.00 to $9.00 in a research note on Friday, November 10th. B. Riley reaffirmed a buy rating on shares of Spirit Realty Capital in a research note on Friday, November 3rd. SunTrust Banks, Inc. reaffirmed a hold rating and issued a $8.50 price objective on shares of Spirit Realty Capital in a research note on Friday, November 3rd. Mizuho set a $9.00 price objective on shares of Spirit Realty Capital and gave the company a buy rating in a research note on Sunday, October 22nd. Finally, Deutsche Bank AG reaffirmed a buy rating and issued a $11.00 price objective on shares of Spirit Realty Capital in a research note on Friday, October 20th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $9.47.

Spirit Realty Capital (NYSE:SRC) opened at $8.47 on Monday. Spirit Realty Capital has a 52 week low of $6.64 and a 52 week high of $11.29. The stock has a market cap of $3,929.83, a P/E ratio of 10.14 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.

TRADEMARK VIOLATION NOTICE: “Ladenburg Thalmann Financial Services Reaffirms “Hold” Rating for Spirit Realty Capital, Inc. (SRC)” was originally posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this piece on another publication, it was stolen and republished in violation of US & international copyright and trademark law. The original version of this piece can be viewed at https://www.dispatchtribunal.com/2017/11/16/ladenburg-thalmann-financial-services-reaffirms-hold-rating-for-spirit-realty-capital-inc-src.html.

Spirit Realty Capital declared that its Board of Directors 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 usually an indication that the company’s leadership believes its stock is undervalued.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Canada Pension Plan Investment Board boosted its position in shares of Spirit Realty Capital by 104.6% during the second quarter. Canada Pension Plan Investment Board now owns 165,900 shares of the real estate investment trust’s stock worth $1,229,000 after purchasing an additional 84,800 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Spirit Realty Capital by 49.8% during the second quarter. State Board of Administration of Florida Retirement System now owns 591,951 shares of the real estate investment trust’s stock worth $4,386,000 after purchasing an additional 196,710 shares in the last quarter. Lasalle Investment Management Securities LLC boosted its position in shares of Spirit Realty Capital by 52.2% during the second quarter. Lasalle Investment Management Securities LLC now owns 22,481,416 shares of the real estate investment trust’s stock worth $166,587,000 after purchasing an additional 7,707,615 shares in the last quarter. Goodwin Daniel L boosted its position in shares of Spirit Realty Capital by 285.7% during the second quarter. Goodwin Daniel L now owns 67,503 shares of the real estate investment trust’s stock worth $500,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Spirit Realty Capital by 9.3% during the second quarter. Legal & General Group Plc now owns 1,386,221 shares of the real estate investment trust’s stock worth $10,272,000 after purchasing an additional 118,073 shares in the last quarter. 92.86% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Spirit Realty Capital (NYSE:SRC)

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.

Leave a Reply