Spirit Realty Capital (NYSE:SRC) Updates FY 2019 Earnings Guidance

Spirit Realty Capital (NYSE:SRC) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $3.39-3.43 for the period. Spirit Realty Capital also updated its FY19 guidance to $3.39-3.43 EPS.

Shares of NYSE:SRC traded down $0.13 during trading on Friday, reaching $46.15. 758,654 shares of the company traded hands, compared to its average volume of 989,938. The business’s 50 day moving average price is $44.12. The company has a market capitalization of $4.01 billion, a price-to-earnings ratio of 12.21 and a beta of 0.42. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.36 and a quick ratio of 0.42. Spirit Realty Capital has a 52 week low of $33.86 and a 52 week high of $46.56.

Spirit Realty Capital (NYSE:SRC) last released its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.33). Spirit Realty Capital had a net margin of 37.11% and a return on equity of 6.54%. The company had revenue of $115.70 million for the quarter, compared to the consensus estimate of $108.48 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. The business’s revenue was up 12.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Spirit Realty Capital will post 3.18 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a dividend of $0.625 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.42%. Spirit Realty Capital’s dividend payout ratio (DPR) is currently 66.14%.

A number of equities analysts have recently commented on the company. ValuEngine cut Spirit Realty Capital from a buy rating to a hold rating in a report on Thursday, June 27th. Morgan Stanley raised Spirit Realty Capital from an equal weight rating to an overweight rating and boosted their price target for the stock from $41.00 to $49.00 in a report on Wednesday, July 10th. Deutsche Bank cut Spirit Realty Capital from a buy rating to a hold rating in a report on Wednesday, May 8th. JPMorgan Chase & Co. boosted their price target on Spirit Realty Capital from $41.00 to $44.00 and gave the stock a neutral rating in a report on Tuesday, June 4th. Finally, Zacks Investment Research raised Spirit Realty Capital from a sell rating to a hold rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $43.75.

In other news, EVP Jay Young sold 10,648 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $45.79, for a total transaction of $487,571.92. Following the completion of the transaction, the executive vice president now owns 18,890 shares of the company’s stock, valued at approximately $864,973.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.92% of the stock is currently owned by insiders.

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.

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