Spirit Realty Capital (NYSE:SRC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.
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. “
Several other research analysts have also recently weighed in on SRC. BTIG Research cut shares of Spirit Realty Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, June 21st. ValuEngine upgraded shares of Spirit Realty Capital from a “sell” rating to a “hold” rating in a research report on Thursday, June 21st. TheStreet upgraded shares of Spirit Realty Capital from a “c” rating to a “b-” rating in a research report on Wednesday, August 8th. Finally, Bank of America upped their target price on Spirit Realty Capital from $8.00 to $8.25 and gave the stock a “neutral” rating in a research note on Monday, September 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $9.00.
Shares of SRC stock traded up $0.06 during trading on Friday, hitting $7.86. The company had a trading volume of 46,416 shares, compared to its average volume of 5,747,638. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.69. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of 9.22 and a beta of 0.42. Spirit Realty Capital has a 52 week low of $7.34 and a 52 week high of $8.84.
Spirit Realty Capital (NYSE:SRC) last posted its quarterly earnings data on Tuesday, August 7th. The real estate investment trust reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.11). The company had revenue of $98.24 million during the quarter, compared to the consensus estimate of $104.88 million. Spirit Realty Capital had a return on equity of 3.42% and a net margin of 14.77%. As a group, sell-side analysts forecast that Spirit Realty Capital will post 0.73 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of SRC. First Hawaiian Bank purchased a new stake in Spirit Realty Capital in the third quarter worth approximately $106,000. Clear Harbor Asset Management LLC purchased a new stake in Spirit Realty Capital in the second quarter worth approximately $108,000. Virtu Financial LLC purchased a new stake in Spirit Realty Capital in the second quarter worth approximately $113,000. Trust Co. of Oklahoma purchased a new stake in Spirit Realty Capital in the second quarter worth approximately $117,000. Finally, Rehmann Capital Advisory Group boosted its stake in Spirit Realty Capital by 324.1% in the second quarter. Rehmann Capital Advisory Group now owns 15,387 shares of the real estate investment trust’s stock worth $124,000 after buying an additional 11,759 shares in the last quarter. 91.85% of the stock is owned by institutional investors and hedge funds.
About Spirit Realty Capital
Spirit Realty Capital, Inc (NYSE: SRC) is a premier net-lease REIT that primarily invests in high-quality, operationally essential 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, office and data center properties providing superior risk adjusted returns and steady dividend growth for our stockholders.
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