Spirit Realty Capital (NYSE:SRC) Coverage Initiated at JMP Securities

JMP Securities started coverage on shares of Spirit Realty Capital (NYSE:SRCGet Rating) in a report issued on Tuesday, The Fly reports. The firm issued an outperform rating and a $54.00 target price on the real estate investment trust’s stock.

SRC has been the subject of several other research reports. StockNews.com assumed coverage on shares of Spirit Realty Capital in a research report on Thursday, March 31st. They issued a hold rating for the company. Zacks Investment Research raised shares of Spirit Realty Capital from a sell rating to a hold rating in a research report on Wednesday, May 4th. Raymond James lowered their price objective on shares of Spirit Realty Capital from $55.00 to $53.00 and set an outperform rating for the company in a research report on Wednesday, February 16th. Jefferies Financial Group downgraded shares of Spirit Realty Capital from a buy rating to a hold rating and decreased their price target for the stock from $56.00 to $52.00 in a research report on Monday, January 10th. Finally, Mizuho raised their price target on shares of Spirit Realty Capital from $48.00 to $49.00 in a research report on Thursday, January 20th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Buy and a consensus price target of $52.91.

NYSE SRC opened at $42.02 on Tuesday. Spirit Realty Capital has a one year low of $38.74 and a one year high of $52.29. The company’s 50 day moving average price is $45.07 and its 200 day moving average price is $46.43. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of 23.09 and a beta of 1.22.

Spirit Realty Capital (NYSE:SRCGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.42). Spirit Realty Capital had a net margin of 35.32% and a return on equity of 5.90%. During the same quarter last year, the company posted $0.76 earnings per share. Sell-side analysts forecast that Spirit Realty Capital will post 3.43 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 14th. Shareholders of record on Thursday, March 31st were issued a $0.638 dividend. This represents a $2.55 dividend on an annualized basis and a yield of 6.07%. The ex-dividend date of this dividend was Wednesday, March 30th. Spirit Realty Capital’s dividend payout ratio is presently 140.11%.

In other Spirit Realty Capital news, CAO Jay Young sold 19,037 shares of Spirit Realty Capital stock in a transaction on Friday, February 25th. The shares were sold at an average price of $46.38, for a total value of $882,936.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.58% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Amundi Pioneer Asset Management Inc. lifted its stake in Spirit Realty Capital by 143.1% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 152,138 shares of the real estate investment trust’s stock valued at $6,045,000 after buying an additional 89,560 shares during the last quarter. Morgan Stanley lifted its stake in Spirit Realty Capital by 102.6% in the second quarter. Morgan Stanley now owns 1,557,234 shares of the real estate investment trust’s stock valued at $74,499,000 after buying an additional 788,722 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Spirit Realty Capital by 21.8% in the third quarter. PNC Financial Services Group Inc. now owns 25,323 shares of the real estate investment trust’s stock valued at $1,165,000 after buying an additional 4,528 shares during the last quarter. Truist Financial Corp lifted its stake in Spirit Realty Capital by 89.7% in the third quarter. Truist Financial Corp now owns 76,360 shares of the real estate investment trust’s stock valued at $3,515,000 after buying an additional 36,111 shares during the last quarter. Finally, Moors & Cabot Inc. bought a new stake in Spirit Realty Capital in the third quarter valued at $41,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

About Spirit Realty Capital (Get Rating)

Spirit Realty Capital, Inc (NYSE: SRC) is a premier net-lease REIT that primarily invests in single-tenant, operationally essential real estate assets, subject to long-term leases. As of September 30, 2020, our diverse portfolio of 1,778 owned properties, with an aggregate leasable area of 37.2 million square feet in 48 states, included retail, industrial and office buildings leased to 296 tenants across 28 retail industries.

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