Norges Bank purchased a new stake in shares of Spirit Realty Capital Inc (NYSE:SRC) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 955,636 shares of the real estate investment trust’s stock, valued at approximately $33,686,000.
Several other institutional investors and hedge funds also recently made changes to their positions in SRC. Cohen & Steers Inc. increased its position in shares of Spirit Realty Capital by 106.0% in the third quarter. Cohen & Steers Inc. now owns 6,095,107 shares of the real estate investment trust’s stock worth $49,127,000 after purchasing an additional 3,136,863 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Spirit Realty Capital in the fourth quarter worth approximately $38,319,000. Mackenzie Financial Corp bought a new position in shares of Spirit Realty Capital in the third quarter worth approximately $8,215,000. Duff & Phelps Investment Management Co. bought a new position in shares of Spirit Realty Capital in the fourth quarter worth approximately $16,140,000. Finally, Millennium Management LLC bought a new position in shares of Spirit Realty Capital in the fourth quarter worth approximately $12,477,000. Hedge funds and other institutional investors own 91.12% of the company’s stock.
SRC stock opened at $39.77 on Wednesday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $3.50 billion, a P/E ratio of 10.52 and a beta of 0.53. Spirit Realty Capital Inc has a 1-year low of $33.86 and a 1-year high of $44.20.
Spirit Realty Capital (NYSE:SRC) last issued its quarterly earnings results on Wednesday, February 20th. The real estate investment trust reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.04. Spirit Realty Capital had a net margin of 26.05% and a return on equity of 5.16%. The business had revenue of $129.48 million for the quarter, compared to analysts’ expectations of $107.01 million. During the same period last year, the business earned $1.06 earnings per share. The business’s quarterly revenue was up 20.6% on a year-over-year basis. As a group, sell-side analysts predict that Spirit Realty Capital Inc will post 3.22 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a dividend of $0.625 per share. This is a boost from Spirit Realty Capital’s previous quarterly dividend of $0.13. This represents a $2.50 dividend on an annualized basis and a yield of 6.29%. The ex-dividend date of this dividend was Thursday, March 28th. Spirit Realty Capital’s dividend payout ratio (DPR) is presently 66.14%.
Several research firms recently weighed in on SRC. Zacks Investment Research cut shares of Spirit Realty Capital from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. Mizuho upgraded shares of Spirit Realty Capital to a “buy” rating and set a $42.00 price objective on the stock in a research report on Wednesday, January 23rd. Three analysts have rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $42.38.
TRADEMARK VIOLATION NOTICE: “Norges Bank Invests $33.69 Million in Spirit Realty Capital Inc (SRC)” was reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece of content on another website, it was illegally copied and republished in violation of United States and international trademark & copyright laws. The original version of this piece of content can be accessed at https://www.dispatchtribunal.com/2019/04/17/norges-bank-invests-33-69-million-in-spirit-realty-capital-inc-src.html.
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.
See Also: Futures Contract
Want to see what other hedge funds are holding SRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spirit Realty Capital Inc (NYSE:SRC).
Receive News & Ratings for Spirit Realty Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit Realty Capital and related companies with MarketBeat.com's FREE daily email newsletter.