Spirit Realty Capital Inc (NYSE:SRC) has been given an average rating of “Hold” by the eight analysts that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $40.67.
A number of brokerages 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 Friday, December 7th. ValuEngine raised shares of Spirit Realty Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, December 5th. Mizuho raised shares of Spirit Realty Capital to a “buy” rating and set a $42.00 price target for the company in a research report on Wednesday, January 23rd. Finally, Raymond James cut shares of Spirit Realty Capital from a “market perform” rating to an “underperform” rating in a research report on Thursday, December 6th.
A number of hedge funds and other institutional investors have recently bought and sold shares of SRC. First Trust Advisors LP increased its stake in Spirit Realty Capital by 109.9% in the third quarter. First Trust Advisors LP now owns 571,008 shares of the real estate investment trust’s stock valued at $4,602,000 after purchasing an additional 298,926 shares during the period. Private Advisor Group LLC increased its stake in shares of Spirit Realty Capital by 70.6% during the third quarter. Private Advisor Group LLC now owns 70,818 shares of the real estate investment trust’s stock worth $571,000 after acquiring an additional 29,319 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of Spirit Realty Capital by 6.0% during the third quarter. Commonwealth Equity Services LLC now owns 109,850 shares of the real estate investment trust’s stock worth $885,000 after acquiring an additional 6,254 shares during the period. LSV Asset Management increased its stake in shares of Spirit Realty Capital by 5.3% during the third quarter. LSV Asset Management now owns 7,079,210 shares of the real estate investment trust’s stock worth $57,058,000 after acquiring an additional 355,110 shares during the period. Finally, Redpoint Investment Management Pty Ltd acquired a new position in shares of Spirit Realty Capital during the third quarter worth about $277,000. Institutional investors own 90.40% of the company’s stock.
Spirit Realty Capital (NYSE:SRC) last announced its quarterly earnings results on Wednesday, February 20th. The real estate investment trust reported $0.84 earnings per share 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 firm had revenue of $129.48 million during the quarter, compared to analysts’ expectations of $107.01 million. During the same period in the previous year, the company earned $1.06 earnings per share. Spirit Realty Capital’s quarterly revenue was up 20.6% compared to the same quarter last year. As a group, equities analysts expect that Spirit Realty Capital will post 3.25 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be paid a $0.625 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This is a positive change 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 6.68%. Spirit Realty Capital’s payout ratio is currently 66.14%.
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.
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