Spirit Realty Capital, Inc (NYSE:SRC) Director Richard I. Gilchrist acquired 7,500 shares of the company’s stock in a transaction on Thursday, March 15th. The stock was acquired at an average price of $8.00 per share, with a total value of $60,000.00. Following the acquisition, the director now owns 67,929 shares in the company, valued at approximately $543,432. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.
SRC opened at $8.05 on Friday. Spirit Realty Capital, Inc has a 52 week low of $6.64 and a 52 week high of $10.60. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.60 and a quick ratio of 0.60. The company has a market capitalization of $3,613.12, a PE ratio of 9.47 and a beta of 0.46.
Spirit Realty Capital (NYSE:SRC) last posted its quarterly earnings data on Thursday, February 22nd. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.15). Spirit Realty Capital had a net margin of 11.53% and a return on equity of 2.84%. The company had revenue of $165.35 million for the quarter, compared to the consensus estimate of $166.69 million. During the same period last year, the business earned $0.21 EPS. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. research analysts expect that Spirit Realty Capital, Inc will post 0.82 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Friday, March 30th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 8.94%. The ex-dividend date of this dividend is Wednesday, March 28th. Spirit Realty Capital’s dividend payout ratio (DPR) is presently 84.71%.
A number of hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. increased its position in Spirit Realty Capital by 11.3% during the 3rd quarter. Pacer Advisors Inc. now owns 75,626 shares of the real estate investment trust’s stock valued at $648,000 after buying an additional 7,708 shares in the last quarter. Advisors Asset Management Inc. increased its position in Spirit Realty Capital by 122.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 18,571 shares of the real estate investment trust’s stock valued at $159,000 after buying an additional 10,241 shares in the last quarter. Ffcm LLC increased its position in Spirit Realty Capital by 214.0% during the 4th quarter. Ffcm LLC now owns 15,761 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 10,741 shares in the last quarter. Centaurus Financial Inc. bought a new position in Spirit Realty Capital during the 4th quarter valued at approximately $101,000. Finally, Brown Advisory Inc. bought a new position in Spirit Realty Capital during the 4th quarter valued at approximately $126,000. 91.92% of the stock is owned by institutional investors.
Several equities research analysts have weighed in on the company. Zacks Investment Research cut Spirit Realty Capital from a “hold” rating to a “sell” rating in a report on Thursday, March 15th. Bank of America cut Spirit Realty Capital from a “buy” rating to a “neutral” rating and set a $9.00 price objective for the company. in a report on Monday, February 26th. B. Riley reiterated a “buy” rating on shares of Spirit Realty Capital in a report on Thursday, February 22nd. Morgan Stanley dropped their price objective on Spirit Realty Capital from $8.75 to $8.25 and set an “equal weight” rating for the company in a report on Monday, February 5th. Finally, ValuEngine cut Spirit Realty Capital from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. One equities 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 stock. Spirit Realty Capital currently has an average rating of “Hold” and an average target price of $9.44.
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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.
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