Spirit Realty Capital Inc. (SRC) Shares Down 2.1%
Spirit Realty Capital Inc. (NYSE:SRC) fell 2.1% on Thursday . The stock traded as low as $12.72 and last traded at $12.79, with a volume of 5,372,001 shares traded. The stock had previously closed at $13.06.
Several research firms have weighed in on SRC. TheStreet upgraded shares of Spirit Realty Capital from a “hold” rating to a “buy” rating in a report on Thursday, May 12th. Wunderlich increased their target price on shares of Spirit Realty Capital from $12.50 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, May 10th. Oppenheimer Holdings Inc. upgraded shares of Spirit Realty Capital from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a report on Friday, March 11th. Finally, Deutsche Bank AG reiterated a “buy” rating on shares of Spirit Realty Capital in a report on Monday, May 9th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Spirit Realty Capital presently has a consensus rating of “Buy” and an average target price of $11.55.
The stock has a 50 day moving average of $12.00 and a 200 day moving average of $11.06. The company has a market capitalization of $6.30 billion and a P/E ratio of 50.34.
Spirit Realty Capital (NYSE:SRC) last posted its earnings results on Wednesday, May 4th. The real estate investment trust reported $0.22 earnings per share for the quarter, topping the Zacks’ 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 revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 earnings per share. On average, analysts expect that Spirit Realty Capital Inc. will post $0.87 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 5.33%. The ex-dividend date is Tuesday, June 28th.
In other Spirit Realty Capital news, CEO Thomas H. Nolan, Jr. sold 15,000 shares of the business’s stock in a transaction that occurred on 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
A number of large investors have bought and sold shares of SRC. California State Teachers Retirement System raised its stake in 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. First Trust Advisors LP raised its stake in 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. Rhumbline Advisers raised its stake in 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. California Public Employees Retirement System raised its stake in Spirit Realty Capital by 8.4% in the fourth quarter. California Public Employees Retirement System now owns 1,025,046 shares of the real estate investment trust’s stock worth $10,271,000 after buying an additional 79,700 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in Spirit Realty Capital by 11.9% in the fourth quarter. ProShare Advisors LLC now owns 159,487 shares of the real estate investment trust’s stock worth $1,598,000 after buying an additional 16,925 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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