Spirit Realty Capital Inc Declares Quarterly Dividend of $0.63 (NYSE:SRC)

Spirit Realty Capital Inc (NYSE:SRC) declared a quarterly dividend on Wednesday, December 4th, Wall Street Journal reports. Shareholders of record on Tuesday, December 31st will be given a dividend of 0.625 per share by the real estate investment trust on Wednesday, January 15th. This represents a $2.50 annualized dividend and a yield of 4.75%. The ex-dividend date of this dividend is Monday, December 30th.

Shares of SRC stock opened at $52.59 on Friday. The stock’s 50 day simple moving average is $50.21 and its 200 day simple moving average is $46.60. Spirit Realty Capital has a twelve month low of $33.86 and a twelve month high of $53.10. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.89 and a current ratio of 2.89. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of 13.91 and a beta of 0.38.

Spirit Realty Capital (NYSE:SRC) last announced its earnings results on Tuesday, November 5th. The real estate investment trust reported $0.99 EPS for the quarter, topping the consensus estimate of $0.34 by $0.65. The firm had revenue of $167.00 million for the quarter, compared to the consensus estimate of $113.15 million. Spirit Realty Capital had a net margin of 42.82% and a return on equity of 8.03%. The business’s quarterly revenue was up 52.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 EPS. On average, analysts forecast that Spirit Realty Capital will post 3.16 EPS for the current fiscal year.

A number of brokerages have weighed in on SRC. Morgan Stanley increased their price target on shares of Spirit Realty Capital from $49.00 to $51.00 and gave the company an “overweight” rating in a report on Tuesday, September 17th. Stifel Nicolaus boosted their price objective on shares of Spirit Realty Capital from $53.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Deutsche Bank upped their price objective on shares of 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 increased their target price for the company from $50.00 to $52.00 in a research note on Tuesday, October 8th. Finally, Capital One Financial raised Spirit Realty Capital from an “equal weight” rating to an “overweight” rating and set a $56.00 target price on the stock in a research report on Tuesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. Spirit Realty Capital currently has an average rating of “Buy” and a consensus price target of $52.43.

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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Dividend History for Spirit Realty Capital (NYSE:SRC)

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