B. Riley Analysts Give Spirit Realty Capital (SRC) a $9.00 Price Target

B. Riley set a $9.00 price objective on Spirit Realty Capital (NYSE:SRC) in a research note released on Tuesday. The firm currently has a buy rating on the real estate investment trust’s stock.

SRC has been the subject of a number of other research reports. FBR & Co restated a buy rating on shares of Spirit Realty Capital in a research note on Friday, October 20th. SunTrust Banks restated a hold rating and set a $8.50 price target on shares of Spirit Realty Capital in a research note on Friday, November 3rd. Mizuho restated a buy rating and set a $9.50 price target on shares of Spirit Realty Capital in a research note on Thursday, December 21st. Zacks Investment Research upgraded shares of Spirit Realty Capital from a hold rating to a buy rating and set a $9.50 price target for the company in a research note on Thursday, October 12th. Finally, Deutsche Bank restated a buy rating and set a $11.00 price target on shares of Spirit Realty Capital in a research note on Friday, October 20th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $9.51.

Shares of Spirit Realty Capital (NYSE:SRC) traded down $0.02 during mid-day trading on Tuesday, reaching $8.16. 7,174,000 shares of the company’s stock were exchanged, compared to its average volume of 5,476,066. The company has a market cap of $3,720.00, a price-to-earnings ratio of 90.67 and a beta of 0.17. 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 has a fifty-two week low of $6.64 and a fifty-two week high of $11.11.

Spirit Realty Capital (NYSE:SRC) last announced its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.18). Spirit Realty Capital had a net margin of 6.25% and a return on equity of 1.36%. research analysts anticipate that Spirit Realty Capital will post 0.83 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Friday, December 29th were paid a $0.18 dividend. The ex-dividend date was Thursday, December 28th. This represents a $0.72 annualized dividend and a dividend yield of 8.82%. Spirit Realty Capital’s payout ratio is 800.00%.

Several hedge funds and other institutional investors have recently bought and sold shares of SRC. Schwab Charles Investment Management Inc. grew its stake in shares of Spirit Realty Capital by 15.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,800,567 shares of the real estate investment trust’s stock worth $13,343,000 after acquiring an additional 246,170 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in Spirit Realty Capital by 15.6% during the second quarter. Oppenheimer & Co. Inc. now owns 25,233 shares of the real estate investment trust’s stock valued at $187,000 after buying an additional 3,400 shares during the period. Teachers Advisors LLC grew its position in Spirit Realty Capital by 44.0% during the second quarter. Teachers Advisors LLC now owns 3,673,628 shares of the real estate investment trust’s stock valued at $27,222,000 after buying an additional 1,122,839 shares during the period. TIAA CREF Investment Management LLC grew its position in Spirit Realty Capital by 19.0% during the second quarter. TIAA CREF Investment Management LLC now owns 2,731,140 shares of the real estate investment trust’s stock valued at $20,238,000 after buying an additional 436,429 shares during the period. Finally, Amalgamated Bank grew its position in Spirit Realty Capital by 27.3% during the second quarter. Amalgamated Bank now owns 87,731 shares of the real estate investment trust’s stock valued at $650,000 after buying an additional 18,820 shares during the period. Hedge funds and other institutional investors own 92.63% of the company’s stock.

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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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