Spirit Realty Capital (SRC) Hits New 1-Year High at $40.95

Spirit Realty Capital Inc (NYSE:SRC) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $40.95 and last traded at $40.49, with a volume of 16184 shares changing hands. The stock had previously closed at $40.69.

A number of research analysts have issued reports on the stock. Zacks Investment Research cut shares of Spirit Realty Capital from a “hold” rating to a “sell” rating in a report on Thursday, March 21st. ValuEngine raised shares of Spirit Realty Capital from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 13th. Finally, Mizuho raised shares of Spirit Realty Capital to a “buy” rating and set a $42.00 target price for the company in a report on Wednesday, January 23rd. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $42.38.

The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.51 and a current ratio of 0.51. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 10.73 and a beta of 0.53.

Spirit Realty Capital (NYSE:SRC) last issued its quarterly earnings data on Wednesday, February 20th. The real estate investment trust reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $107.01 million. During the same period last year, the company posted $1.06 EPS. The company’s revenue was up 20.6% on a year-over-year basis. Analysts anticipate that Spirit Realty Capital Inc will post 3.22 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 6.15%. This is a boost from Spirit Realty Capital’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, March 28th. Spirit Realty Capital’s dividend payout ratio (DPR) is 66.14%.

Several institutional investors and hedge funds have recently modified their holdings of SRC. State of Alaska Department of Revenue boosted its holdings in shares of Spirit Realty Capital by 0.8% in the 1st quarter. State of Alaska Department of Revenue now owns 37,460 shares of the real estate investment trust’s stock valued at $1,487,000 after purchasing an additional 283 shares during the last quarter. We Are One Seven LLC purchased a new stake in Spirit Realty Capital during the 4th quarter worth $29,000. Gideon Capital Advisors Inc. purchased a new stake in Spirit Realty Capital during the 4th quarter worth $394,000. Hsbc Holdings PLC increased its stake in Spirit Realty Capital by 16.7% during the 3rd quarter. Hsbc Holdings PLC now owns 78,689 shares of the real estate investment trust’s stock worth $635,000 after buying an additional 11,237 shares during the period. Finally, HRT Financial LLC purchased a new stake in Spirit Realty Capital during the 4th quarter worth $403,000. 91.15% of the stock is owned by institutional investors and hedge funds.

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About Spirit Realty Capital (NYSE:SRC)

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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