Spirit Realty Capital (SRC) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Spirit Realty Capital (NYSE:SRC) from a hold rating to a sell rating in a research report released on Friday, January 5th.

According to Zacks, “Spirit Realty Capital, Inc. is a real estate investment trust. It acquires single tenant, operationally essential real estate where the tenants conduct retail, service or distribution activities. The Company has investments throughout the United States. Its portfolio of properties is leased to tenants operating in different industries which includes restaurants; general, specialty and discount retailers; movie theatres; education facilities; health, fitness and recreational facilities; automotive dealers, parts and service facilities; and supermarkets. Spirit Realty Capital, Inc. is based in Scottsdale, Arizona. “

SRC has been the topic of a number of other reports. ValuEngine cut shares of Spirit Realty Capital from a buy rating to a hold rating in a research note on Sunday, December 31st. Ladenburg Thalmann Financial Services restated a hold rating on shares of Spirit Realty Capital in a research note on Monday, November 13th. Deutsche Bank restated a buy rating and set a $11.00 price objective on shares of Spirit Realty Capital in a research note on Friday, October 20th. FBR & Co restated a buy rating on shares of Spirit Realty Capital in a research note on Friday, October 20th. Finally, Mizuho set a $9.00 price target on shares of Spirit Realty Capital and gave the stock a buy rating in a research report on Sunday, October 22nd. Eleven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Hold and an average target price of $9.51.

Spirit Realty Capital (NYSE SRC) traded up $0.01 during trading on Friday, reaching $8.17. 6,640,000 shares of the company’s stock were exchanged, compared to its average volume of 5,800,000. The firm has a market capitalization of $3,720.00, a P/E ratio of 90.78 and a beta of 0.17. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.19. Spirit Realty Capital has a 1 year low of $6.64 and a 1 year high of $11.11.

Spirit Realty Capital (NYSE:SRC) last posted its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 predict that Spirit Realty Capital will post 0.83 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, January 12th. Investors 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 dividend on an annualized basis and a yield of 8.81%. Spirit Realty Capital’s dividend payout ratio is currently 800.00%.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Lourd Capital LLC purchased a new position in Spirit Realty Capital in the 4th quarter worth about $206,000. Orinda Asset Management LLC grew its stake in Spirit Realty Capital by 45.9% during the 4th quarter. Orinda Asset Management LLC now owns 235,532 shares of the real estate investment trust’s stock valued at $2,021,000 after acquiring an additional 74,085 shares in the last quarter. Westpac Banking Corp grew its stake in Spirit Realty Capital by 18.7% during the 4th quarter. Westpac Banking Corp now owns 933,542 shares of the real estate investment trust’s stock valued at $8,010,000 after acquiring an additional 147,370 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Spirit Realty Capital by 8.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 2,175,265 shares of the real estate investment trust’s stock valued at $18,664,000 after acquiring an additional 177,945 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in Spirit Realty Capital by 162.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 68,700 shares of the real estate investment trust’s stock valued at $589,000 after acquiring an additional 42,500 shares in the last quarter. 92.71% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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