Spirit Realty Capital (SRC) Releases FY 2018 Earnings Guidance

Spirit Realty Capital (NYSE:SRC) issued an update on its FY 2018 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.75-0.76 for the period. Spirit Realty Capital also updated its FY18 guidance to $0.75-0.76 EPS.

Shares of NYSE:SRC traded down $0.08 during trading on Tuesday, reaching $8.10. 451,765 shares of the company traded hands, compared to its average volume of 5,425,758. The firm has a market cap of $3.34 billion, a PE ratio of 9.54 and a beta of 0.34. Spirit Realty Capital has a 52-week low of $7.34 and a 52-week high of $8.84. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.53 and a current ratio of 0.53.

Spirit Realty Capital (NYSE:SRC) last posted its quarterly earnings data on Monday, November 5th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The business had revenue of $109.64 million during the quarter, compared to the consensus estimate of $101.43 million. Spirit Realty Capital had a return on equity of 3.42% and a net margin of 14.77%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.21 earnings per share. Research analysts predict that Spirit Realty Capital will post 0.73 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 6.17%. Spirit Realty Capital’s dividend payout ratio is presently 58.82%.

A number of research firms recently commented on SRC. ValuEngine lowered shares of Spirit Realty Capital from a hold rating to a sell rating in a research note on Thursday, November 1st. Zacks Investment Research upgraded shares of Spirit Realty Capital from a sell rating to a hold rating in a research note on Friday, October 19th. Bank of America raised their target price on shares of Spirit Realty Capital from $8.00 to $8.25 and gave the stock a neutral rating in a report on Monday, September 10th. Finally, TheStreet upgraded shares of Spirit Realty Capital from a c rating to a b- rating in a report on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $8.79.

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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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