Spirit Realty Capital Inc. (SRC) Stock Price Down 1.9%
Spirit Realty Capital Inc. (NYSE:SRC) shares were down 1.9% on Friday . The stock traded as low as $13.13 and last traded at $13.17, with a volume of 3,691,152 shares trading hands. The stock had previously closed at $13.42.
SRC has been the topic of a number of recent research reports. TheStreet upgraded Spirit Realty Capital from a “hold” rating to a “buy” rating in a research note on Thursday, May 12th. Wunderlich boosted their target price on Spirit Realty Capital from $12.50 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, May 10th. Finally, Deutsche Bank AG restated a “buy” rating on shares of Spirit Realty Capital in a research note on Monday, May 9th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $11.67.
The stock has a 50 day moving average of $12.91 and a 200-day moving average of $11.54. The company has a market capitalization of $6.35 billion and a P/E ratio of 59.06.
Spirit Realty Capital (NYSE:SRC) last posted its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.01. The company earned $171.70 million during the quarter, compared to the consensus estimate of $164.29 million. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 earnings per share. Analysts expect that Spirit Realty Capital Inc. will post $0.87 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 5.29%. The ex-dividend date was Tuesday, June 28th.
In related news, CEO Thomas H. Nolan, Jr. sold 15,000 shares of the firm’s 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 sale, the chief executive officer now owns 873,186 shares of the company’s stock, valued at approximately $10,024,175.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
A number of hedge funds have modified their holdings of SRC. Bank of Montreal Can increased its stake in shares of 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 last quarter. First Trust Advisors LP increased 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 valued at $1,703,000 after buying an additional 10,177 shares in the last quarter. Rhumbline Advisers increased 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 valued at $3,029,000 after buying an additional 9,310 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake 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 in 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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