Spirit Realty Capital Inc. (SRC) Sees Unusually-High Trading Volume
Spirit Realty Capital Inc. (NYSE:SRC) saw an uptick in trading volume on Thursday . 8,094,686 shares changed hands during trading, an increase of 86% from the previous session’s volume of 4,349,175 shares.The stock last traded at $13.58 and had previously closed at $13.39.
Several brokerages have commented on SRC. TheStreet raised Spirit Realty Capital from a “hold” rating to a “buy” rating in a research report on Thursday, May 12th. Deutsche Bank AG reissued a “buy” rating on shares of Spirit Realty Capital in a research report on Monday, May 9th. Finally, Wunderlich lifted their price target on Spirit Realty Capital from $12.50 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, May 10th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Spirit Realty Capital currently has a consensus rating of “Buy” and a consensus price target of $11.67.
The firm has a market capitalization of $6.56 billion and a P/E ratio of 52.38. The company has a 50 day moving average of $12.70 and a 200-day moving average of $11.41.
Spirit Realty Capital (NYSE:SRC) last announced its quarterly earnings data on Wednesday, May 4th. The real estate investment trust reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.01. During the same period last year, the company earned $0.21 EPS. The business earned $168.40 million during the quarter, compared to the consensus estimate of $162.51 million. The business’s revenue was up 3.8% compared to the same quarter last year. Analysts predict that Spirit Realty Capital Inc. will post $0.87 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date of this dividend was Tuesday, June 28th.
In other news, CEO Thomas H. Nolan, Jr. sold 15,000 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 873,186 shares of the company’s stock, valued at approximately $10,024,175.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Several institutional investors have recently bought and sold shares of SRC. Bank of Montreal Can increased 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 worth $1,328,000 after buying an additional 119,222 shares during the last quarter. First Trust Advisors LP increased its position 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 increased its position 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 increased its position 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, Dimensional Fund Advisors LP increased 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 worth $59,172,000 after buying an additional 158,110 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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