Spirit Realty Capital (SRC) Downgraded by Zacks Investment Research to “Sell”

Spirit Realty Capital (NYSE:SRC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday, March 15th.

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. “

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Several other research firms also recently weighed in on SRC. Mizuho restated a “buy” rating and issued a $9.50 price target on shares of Spirit Realty Capital in a research note on Thursday, December 21st. ValuEngine downgraded Spirit Realty Capital from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. B. Riley set a $9.00 price target on Spirit Realty Capital and gave the stock a “buy” rating in a research note on Tuesday, January 16th. SunTrust Banks upgraded Spirit Realty Capital from a “hold” rating to a “buy” rating in a research note on Monday, January 22nd. Finally, Capital One Financial upgraded Spirit Realty Capital from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $9.44.

Spirit Realty Capital stock traded up $0.07 during midday trading on Thursday, hitting $8.05. The stock had a trading volume of 7,756,208 shares, compared to its average volume of 4,973,116. The firm has a market capitalization of $3,613.12, a price-to-earnings ratio of 9.47 and a beta of 0.46. Spirit Realty Capital has a 52-week low of $6.64 and a 52-week high of $10.60. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.15.

Spirit Realty Capital (NYSE:SRC) last released its earnings results on Thursday, February 22nd. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.15). The firm had revenue of $165.35 million during the quarter, compared to analysts’ expectations of $166.69 million. Spirit Realty Capital had a return on equity of 2.84% and a net margin of 11.53%. The company’s revenue was down 4.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.21 earnings per share. analysts predict that Spirit Realty Capital will post 0.82 EPS for the current year.

In other news, Director Thomas D. Senkbeil bought 25,200 shares of the stock in a transaction dated Tuesday, March 6th. The stock was purchased at an average cost of $7.93 per share, for a total transaction of $199,836.00. Following the transaction, the director now owns 67,052 shares of the company’s stock, valued at $531,722.36. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard I. Gilchrist purchased 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 15th. The shares were bought at an average price of $8.00 per share, for a total transaction of $60,000.00. Following the acquisition, the director now directly owns 67,929 shares in the company, valued at approximately $543,432. The disclosure for this purchase can be found here. 0.50% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in SRC. First Trust Advisors LP raised its holdings in Spirit Realty Capital by 184.0% during the 3rd quarter. First Trust Advisors LP now owns 406,108 shares of the real estate investment trust’s stock valued at $3,480,000 after buying an additional 263,112 shares during the period. Canada Pension Plan Investment Board raised its holdings in Spirit Realty Capital by 44.4% during the 3rd quarter. Canada Pension Plan Investment Board now owns 239,500 shares of the real estate investment trust’s stock valued at $2,053,000 after buying an additional 73,600 shares during the period. Advisors Asset Management Inc. raised its holdings 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 during the period. Pacer Advisors Inc. raised its holdings 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 during the period. Finally, Legal & General Group Plc raised its holdings in Spirit Realty Capital by 11.6% during the 3rd quarter. Legal & General Group Plc now owns 1,546,458 shares of the real estate investment trust’s stock valued at $13,252,000 after buying an additional 160,237 shares during the period. Institutional investors own 91.92% of the company’s stock.

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Spirit Realty Capital Company Profile

Spirit Realty Capital, Inc (NYSE:SRC) is a premier net lease real estate investment trust (REIT) that primarily invests in high-quality, operationally essential retail real estate, subject to long-term, net leases. Over the past decade, Spirit has become an industry leader and owner of income-producing, strategically located retail, industrial and office properties providing superior risk adjusted returns and steady dividend growth for our shareholders.

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