Zacks Investment Research upgraded shares of Spirit Realty Capital (NYSE:SRC) from a hold rating to a buy rating in a research note published on Wednesday. They currently have $9.50 price objective on the real estate investment trust’s stock.
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. “
Other equities research analysts have also issued research reports about the stock. SunTrust Banks raised shares of Spirit Realty Capital from a hold rating to a buy rating in a research note on Monday, January 22nd. B. Riley set a $9.00 price objective on shares of Spirit Realty Capital and gave the company a buy rating in a research note on Tuesday, January 16th. Capital One raised shares of Spirit Realty Capital from an underweight rating to an equal weight rating in a research note on Wednesday, January 24th. Morgan Stanley reduced their price objective on shares of Spirit Realty Capital from $8.75 to $8.25 and set an equal weight rating for the company in a research note on Monday, February 5th. Finally, ValuEngine lowered shares of Spirit Realty Capital from a buy rating to a hold rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $9.08.
SRC stock opened at $8.48 on Wednesday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.86 and a quick ratio of 0.86. Spirit Realty Capital has a 1 year low of $6.98 and a 1 year high of $8.81. The firm has a market capitalization of $3.63 billion, a P/E ratio of 9.98 and a beta of 0.43.
Spirit Realty Capital (NYSE:SRC) last released its quarterly earnings data on Tuesday, May 1st. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. Spirit Realty Capital had a net margin of 14.21% and a return on equity of 3.53%. The business had revenue of $165.30 million during the quarter, compared to analyst estimates of $165.12 million. During the same quarter in the previous year, the business earned $0.20 EPS. Spirit Realty Capital’s quarterly revenue was down .1% compared to the same quarter last year. equities analysts forecast that Spirit Realty Capital will post 0.82 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, April 13th. Shareholders of record on Friday, March 30th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 8.49%. The ex-dividend date was Wednesday, March 28th. Spirit Realty Capital’s dividend payout ratio is 84.71%.
In other news, Director Richard I. Gilchrist bought 7,500 shares of the business’s stock in a transaction on Thursday, March 15th. The stock was purchased at an average price of $8.00 per share, with a total value of $60,000.00. Following the transaction, the director now directly owns 67,929 shares in the company, valued at $543,432. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Thomas D. Senkbeil bought 25,200 shares of the business’s stock in a transaction on Tuesday, March 6th. The shares were purchased at an average cost of $7.93 per share, with a total value of $199,836.00. Following the transaction, the director now owns 67,052 shares in the company, valued at $531,722.36. The disclosure for this purchase can be found here. 0.48% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the company. Centaurus Financial Inc. bought a new position in shares of Spirit Realty Capital during the 4th quarter worth about $101,000. Brown Advisory Inc. bought a new position in shares of Spirit Realty Capital during the 4th quarter worth about $126,000. Ffcm LLC increased its holdings in shares of 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 worth $133,000 after purchasing an additional 10,741 shares during the period. Ibex Wealth Advisors bought a new position in shares of Spirit Realty Capital during the 4th quarter worth about $164,000. Finally, Lourd Capital LLC bought a new position in shares of Spirit Realty Capital during the 4th quarter worth about $206,000. Institutional investors own 95.59% of the company’s stock.
About Spirit Realty Capital
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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