Traders Buy Spirit Realty Capital Inc. (SRC) on Weakness
Traders purchased shares of Spirit Realty Capital Inc. (NYSE:SRC) on weakness during trading hours on Thursday. $31.32 million flowed into the stock on the tick-up and $9.43 million flowed out of the stock on the tick-down, for a money net flow of $21.89 million into the stock. Of all stocks tracked, Spirit Realty Capital had the 19th highest net in-flow for the day. Spirit Realty Capital traded down ($0.10) for the day and closed at $12.96
Several brokerages have recently issued reports on SRC. TheStreet raised Spirit Realty Capital from a “hold” rating to a “buy” rating in a research report on Thursday, May 12th. Wunderlich raised their price target on Spirit Realty Capital from $12.50 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, May 10th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Spirit Realty Capital in a research report on Monday, May 9th. Finally, Oppenheimer Holdings Inc. raised Spirit Realty Capital from a “market perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a research report on Friday, March 11th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $11.55.
The company has a 50-day moving average price of $11.95 and a 200 day moving average price of $11.04. The firm has a market capitalization of $6.22 billion and a PE ratio of 49.66.
Spirit Realty Capital (NYSE:SRC) last issued its quarterly earnings results on Wednesday, May 4th. The real estate investment trust reported $0.22 EPS for the quarter, topping the consensus estimate of $0.21 by $0.01. The business had revenue of $168.40 million for the quarter, compared to the consensus estimate of $162.51 million. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm earned $0.21 earnings per share. On average, equities analysts expect that Spirit Realty Capital Inc. will post $0.87 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be given a dividend of $0.175 per share. The ex-dividend date is Tuesday, June 28th. This represents a $0.70 annualized dividend and a yield of 5.40%.
In other Spirit Realty Capital news, CEO Thomas H. Nolan, Jr. sold 15,000 shares of the business’s stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $11.48, for a total transaction of $172,200.00. Following the sale, the chief executive officer now directly owns 873,186 shares of the company’s stock, valued at approximately $10,024,175.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Several large investors have recently modified their holdings of SRC. Russell Frank Co boosted its stake in shares of Spirit Realty Capital by 9.3% in the fourth quarter. Russell Frank Co now owns 2,156,538 shares of the real estate investment trust’s stock worth $21,533,000 after buying an additional 183,479 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of Spirit Realty Capital by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 844,069 shares of the real estate investment trust’s stock worth $8,458,000 after buying an additional 13,297 shares during the last quarter. American Century Companies Inc. purchased a new stake in shares of Spirit Realty Capital during the fourth quarter worth about $17,902,000. First Trust Advisors LP boosted its stake in shares of Spirit Realty Capital by 6.4% in the fourth quarter. First Trust Advisors LP now owns 169,969 shares of the real estate investment trust’s stock worth $1,703,000 after buying an additional 10,177 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Spirit Realty Capital by 3.2% in the fourth quarter. Rhumbline Advisers now owns 302,318 shares of the real estate investment trust’s stock worth $3,029,000 after buying an additional 9,310 shares during the last quarter.
Spirit Realty Capital, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company’s operations are carried out through Spirit Realty, L.P. (the Operating Partnership). The Company invests in single-tenant, operationally essential real estate throughout the United States that is leased on a long-term, triple-net basis primarily to tenants engaged in retail, service and distribution industries.
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