Spirit Realty Capital Inc. (SRC) Sets New 12-Month High at $13.21
Shares of Spirit Realty Capital Inc. (NYSE:SRC) hit a new 52-week high on Monday . The stock traded as high as $13.21 and last traded at $13.19, with a volume of 1,417,994 shares. The stock had previously closed at $13.14.
SRC has been the subject of several recent analyst reports. Deutsche Bank AG restated a “buy” rating on shares of Spirit Realty Capital in a research report on Friday, April 15th. Wunderlich boosted their price objective on shares of Spirit Realty Capital from $12.50 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, May 10th. Finally, TheStreet upgraded shares of Spirit Realty Capital from a “hold” rating to a “buy” rating in a research report on Thursday, May 12th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Spirit Realty Capital has a consensus rating of “Buy” and an average price target of $11.55.
The stock’s 50-day moving average is $12.11 and its 200 day moving average is $11.12. The stock has a market cap of $6.28 billion and a P/E ratio of 50.19.
Spirit Realty Capital (NYSE:SRC) last issued its quarterly earnings data on Wednesday, May 4th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.01. The firm earned $168.40 million during the quarter, compared to analyst estimates of $162.51 million. During the same period last year, the business earned $0.21 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. Equities analysts anticipate that Spirit Realty Capital Inc. will post $0.87 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 5.34%. The ex-dividend date of this dividend is Tuesday, June 28th.
In other news, CEO Thomas H. Nolan, Jr. sold 15,000 shares of the stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $11.48, for a total transaction of $172,200.00. Following the completion of the transaction, the chief executive officer now directly owns 873,186 shares in the company, valued at approximately $10,024,175.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Several institutional investors have added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in Spirit Realty Capital by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,905,468 shares of the real estate investment trust’s stock valued at $59,172,000 after buying an additional 158,110 shares during the period. Principal Financial Group Inc. boosted its position in Spirit Realty Capital by 56.2% in the fourth quarter. Principal Financial Group Inc. now owns 106,791 shares of the real estate investment trust’s stock valued at $1,070,000 after buying an additional 38,426 shares during the period. Bank of Montreal Can boosted its position in Spirit Realty Capital by 892.0% in the fourth quarter. Bank of Montreal Can now owns 132,587 shares of the real estate investment trust’s stock valued at $1,328,000 after buying an additional 119,222 shares during the period. Vanguard Group Inc. boosted its position in Spirit Realty Capital by 5.0% in the fourth quarter. Vanguard Group Inc. now owns 62,476,210 shares of the real estate investment trust’s stock valued at $626,012,000 after buying an additional 2,994,914 shares during the period. Finally, Teacher Retirement System of Texas boosted its position in Spirit Realty Capital by 0.4% in the fourth quarter. Teacher Retirement System of Texas now owns 469,369 shares of the real estate investment trust’s stock valued at $4,703,000 after buying an additional 1,642 shares during the period.
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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