Spirit Realty Capital (NYSE:SRC) Upgraded to “Overweight” at Capital One Financial

Capital One Financial upgraded shares of Spirit Realty Capital (NYSE:SRC) from an equal weight rating to an overweight rating in a research note published on Tuesday morning, Benzinga reports. Capital One Financial currently has $56.00 target price on the real estate investment trust’s stock.

Several other analysts also recently weighed in on the company. Deutsche Bank boosted their price objective on Spirit Realty Capital from $50.00 to $52.00 and gave the company a hold rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. upgraded shares of Spirit Realty Capital from a neutral rating to an overweight rating and raised their target price for the stock from $50.00 to $52.00 in a report on Tuesday, October 8th. Morgan Stanley lifted their target price on shares of Spirit Realty Capital from $49.00 to $51.00 and gave the stock an overweight rating in a research note on Tuesday, September 17th. Stifel Nicolaus upped their price target on shares of Spirit Realty Capital from $53.00 to $56.00 and gave the company a buy rating in a report on Tuesday, November 26th. Finally, Zacks Investment Research lowered shares of Spirit Realty Capital from a buy rating to a hold rating in a report on Tuesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $52.14.

SRC opened at $52.52 on Tuesday. Spirit Realty Capital has a 12 month low of $33.86 and a 12 month high of $52.84. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 0.66. The business’s 50-day moving average price is $50.02 and its 200-day moving average price is $46.50. The company has a market cap of $5.23 billion, a P/E ratio of 13.89 and a beta of 0.38.

Spirit Realty Capital (NYSE:SRC) last issued its earnings results on Tuesday, November 5th. The real estate investment trust reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.65. Spirit Realty Capital had a return on equity of 8.03% and a net margin of 42.82%. The company had revenue of $167.00 million during the quarter, compared to analysts’ expectations of $113.15 million. During the same period in the prior year, the business posted $0.16 EPS. Spirit Realty Capital’s quarterly revenue was up 52.4% compared to the same quarter last year. Equities research analysts forecast that Spirit Realty Capital will post 3.16 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Spirit Realty Capital in the 2nd quarter worth approximately $27,000. Tower Research Capital LLC TRC purchased a new position in shares of Spirit Realty Capital during the third quarter valued at approximately $27,000. Garrett Wealth Advisory Group LLC purchased a new position in shares of Spirit Realty Capital during the third quarter valued at approximately $31,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Spirit Realty Capital during the second quarter valued at approximately $34,000. Finally, Prestige Wealth Management Group LLC bought a new position in shares of Spirit Realty Capital during the second quarter valued at approximately $46,000. 92.31% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Spirit Realty Capital (NYSE:SRC)

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