$115.55 Million in Sales Expected for Spirit Realty Capital Inc (NYSE:SRC) This Quarter

Analysts expect that Spirit Realty Capital Inc (NYSE:SRC) will post $115.55 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Spirit Realty Capital’s earnings, with the lowest sales estimate coming in at $97.23 million and the highest estimate coming in at $120.80 million. Spirit Realty Capital reported sales of $109.51 million in the same quarter last year, which would suggest a positive year over year growth rate of 5.5%. The company is scheduled to issue its next quarterly earnings results on Tuesday, November 3rd.

According to Zacks, analysts expect that Spirit Realty Capital will report full-year sales of $467.81 million for the current year, with estimates ranging from $413.81 million to $481.58 million. For the next year, analysts anticipate that the firm will report sales of $492.59 million, with estimates ranging from $466.31 million to $508.53 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Spirit Realty Capital.

Spirit Realty Capital (NYSE:SRC) last posted its earnings results on Friday, July 31st. The real estate investment trust reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.57). Spirit Realty Capital had a return on equity of 2.19% and a net margin of 13.17%. The company had revenue of $117.19 million during the quarter, compared to analyst estimates of $113.65 million. During the same quarter last year, the firm posted $0.86 earnings per share.

Several equities research analysts recently weighed in on SRC shares. Zacks Investment Research upgraded Spirit Realty Capital from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Tuesday. JPMorgan Chase & Co. cut their price target on Spirit Realty Capital from $55.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, July 29th. Raymond James upgraded Spirit Realty Capital from an “underperform” rating to a “market perform” rating in a report on Thursday, June 11th. ValuEngine lowered Spirit Realty Capital from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Finally, Berenberg Bank initiated coverage on Spirit Realty Capital in a research report on Tuesday, June 30th. They set a “buy” rating and a $47.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Spirit Realty Capital currently has a consensus rating of “Buy” and a consensus target price of $43.60.

SRC traded down $0.40 on Friday, hitting $36.86. The company had a trading volume of 1,185,458 shares, compared to its average volume of 1,077,937. The company’s fifty day moving average price is $35.69 and its 200 day moving average price is $32.94. Spirit Realty Capital has a 1-year low of $18.37 and a 1-year high of $54.63. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 54.21 and a beta of 1.04.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 6.78%. The ex-dividend date is Tuesday, September 29th. Spirit Realty Capital’s dividend payout ratio is currently 74.85%.

Several large investors have recently bought and sold shares of the stock. FMR LLC grew its holdings in shares of Spirit Realty Capital by 29.3% during the second quarter. FMR LLC now owns 5,453,524 shares of the real estate investment trust’s stock worth $190,110,000 after buying an additional 1,234,428 shares in the last quarter. State Street Corp grew its stake in Spirit Realty Capital by 16.5% in the first quarter. State Street Corp now owns 3,808,765 shares of the real estate investment trust’s stock valued at $101,874,000 after purchasing an additional 540,585 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Spirit Realty Capital by 31.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,890,498 shares of the real estate investment trust’s stock valued at $75,588,000 after purchasing an additional 697,971 shares in the last quarter. Cbre Clarion Securities LLC grew its stake in Spirit Realty Capital by 69.1% in the second quarter. Cbre Clarion Securities LLC now owns 2,269,082 shares of the real estate investment trust’s stock valued at $79,100,000 after purchasing an additional 926,919 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in Spirit Realty Capital by 364.7% in the second quarter. Prudential Financial Inc. now owns 1,781,471 shares of the real estate investment trust’s stock valued at $62,102,000 after purchasing an additional 1,398,073 shares in the last quarter.

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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Earnings History and Estimates for Spirit Realty Capital (NYSE:SRC)

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