Spirit Realty Capital Inc. (SRC) Hits New 12-Month High at $13.90
Spirit Realty Capital Inc. (NYSE:SRC) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $13.90 and last traded at $13.57, with a volume of 3,127,381 shares traded. The stock had previously closed at $13.67.
SRC has been the topic of a number of research analyst reports. Deutsche Bank AG reiterated a “buy” rating on shares of Spirit Realty Capital in a report on Friday, April 15th. Wunderlich lifted their price target on Spirit Realty Capital from $12.50 to $14.00 and gave the company a “buy” rating in a report on Tuesday, May 10th. Finally, TheStreet upgraded Spirit Realty Capital from a “hold” rating to a “buy” rating in a report on Thursday, May 12th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $11.67.
The stock has a market cap of $6.45 billion and a PE ratio of 51.49. The company’s 50-day moving average price is $12.75 and its 200 day moving average price is $11.47.
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 Zacks’ consensus estimate of $0.21 by $0.01. During the same quarter in the previous year, the business posted $0.21 earnings per share. The firm earned $168.40 million during the quarter, compared to the consensus estimate of $162.51 million. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts forecast that Spirit Realty Capital Inc. will post $0.87 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were given a $0.175 dividend. The ex-dividend date of this dividend was Tuesday, June 28th. This represents a $0.70 dividend on an annualized basis and a yield of 5.12%.
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 value 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 document filed with the SEC, which is accessible through the SEC website.
Several hedge funds and institutional investors recently bought and sold shares of the stock. 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 period. 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 period. 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 period. 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 period. 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 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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