Chicago Equity Partners LLC cut its holdings in Spirit Realty Capital Inc (NYSE:SRC) by 0.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,443,820 shares of the real estate investment trust’s stock after selling 6,700 shares during the quarter. Chicago Equity Partners LLC owned about 0.34% of Spirit Realty Capital worth $11,637,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. First Hawaiian Bank purchased a new stake in Spirit Realty Capital in the third quarter valued at about $106,000. Clear Harbor Asset Management LLC purchased a new stake in Spirit Realty Capital in the second quarter valued at about $108,000. Virtu Financial LLC purchased a new stake in Spirit Realty Capital in the second quarter valued at about $113,000. Trust Co. of Oklahoma purchased a new stake in Spirit Realty Capital in the second quarter valued at about $117,000. Finally, Rehmann Capital Advisory Group raised 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 valued at $124,000 after buying an additional 11,759 shares during the last quarter. Institutional investors own 91.75% of the company’s stock.
A number of equities research analysts have commented on SRC shares. Zacks Investment Research upgraded Spirit Realty Capital from a “sell” rating to a “hold” rating in a research note on Saturday, August 11th. ValuEngine cut Spirit Realty Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. TheStreet upgraded Spirit Realty Capital from a “c” rating to a “b-” rating in a research note on Wednesday, August 8th. Finally, Bank of America raised their price objective 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 research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $8.79.
Shares of NYSE:SRC opened at $7.80 on Monday. Spirit Realty Capital Inc has a 52-week low of $7.34 and a 52-week high of $8.84. The stock has a market capitalization of $3.34 billion, a PE ratio of 9.18 and a beta of 0.34. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.53 and a quick ratio of 0.53.
Spirit Realty Capital (NYSE:SRC) last announced its quarterly earnings data on Tuesday, August 7th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.11). Spirit Realty Capital had a return on equity of 3.42% and a net margin of 14.77%. The firm had revenue of $98.24 million during the quarter, compared to analysts’ expectations of $104.88 million. As a group, equities analysts predict that Spirit Realty Capital Inc will post 0.73 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 6.41%. The ex-dividend date of this dividend was Thursday, September 27th. Spirit Realty Capital’s payout ratio is 58.82%.
Spirit Realty Capital Company Profile
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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