Spirit Realty Capital (SRC) Updates 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 guidance of $0.75-0.76 for the period. Spirit Realty Capital also updated its FY18 guidance to $0.75-0.76 EPS.

SRC stock traded down $0.01 during mid-day trading on Wednesday, hitting $8.10. 228,338 shares of the company were exchanged, compared to its average volume of 5,425,758. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.53 and a quick ratio of 0.53. The firm has a market cap of $3.34 billion, a PE ratio of 9.53 and a beta of 0.34. Spirit Realty Capital has a 12-month low of $7.34 and a 12-month high of $8.84.

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

The firm 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 6.17%. The ex-dividend date of this dividend was Thursday, September 27th. Spirit Realty Capital’s payout ratio is 58.82%.

Several research firms have 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 raised shares of Spirit Realty Capital from a sell rating to a hold rating in a research note on Friday, October 19th. TheStreet raised shares of 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 shares of Spirit Realty Capital from $8.00 to $8.25 and gave the company a neutral rating in a research note on Monday, September 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. The company presently 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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