Schroder Investment Management Group Has $2,170,000 Position in Spirit Realty Capital Inc. (SRC)
Schroder Investment Management Group maintained its stake in shares of Spirit Realty Capital Inc. (NYSE:SRC) during the second quarter, Holdings Channel reports. The institutional investor owned 169,941 shares of the real estate investment trust’s stock at the end of the second quarter. Schroder Investment Management Group’s holdings in Spirit Realty Capital were worth $2,170,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in SRC. Bayesian Capital Management LP acquired a new stake in shares of Spirit Realty Capital during the first quarter valued at approximately $119,000. Boothbay Fund Management LLC acquired a new stake in shares of Spirit Realty Capital during the first quarter valued at approximately $127,000. National Planning Corp acquired a new stake in shares of Spirit Realty Capital during the first quarter valued at approximately $133,000. Acadian Asset Management LLC acquired a new stake in shares of Spirit Realty Capital during the second quarter valued at approximately $137,000. Finally, New England Investment & Retirement Group Inc. acquired a new stake in shares of Spirit Realty Capital during the second quarter valued at approximately $139,000. Institutional investors own 95.35% of the company’s stock.
Spirit Realty Capital Inc. (NYSE:SRC) traded down 0.618% during trading on Friday, reaching $13.665. The company’s stock had a trading volume of 2,248,351 shares. Spirit Realty Capital Inc. has a 52-week low of $8.90 and a 52-week high of $13.97. The stock has a market cap of $6.55 billion, a price-to-earnings ratio of 61.004 and a beta of 0.54. The firm has a 50 day moving average price of $13.27 and a 200-day moving average price of $12.21.
Spirit Realty Capital (NYSE:SRC) last posted its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. Spirit Realty Capital had a return on equity of 2.91% and a net margin of 15.36%. The company earned $171.70 million during the quarter, compared to analysts’ expectations of $164.29 million. During the same quarter in the previous year, the firm earned $0.22 EPS. Spirit Realty Capital’s revenue was up 2.3% on a year-over-year basis. On average, analysts expect that Spirit Realty Capital Inc. will post $0.88 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.175 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 5.09%. Spirit Realty Capital’s dividend payout ratio (DPR) is currently 304.36%.
SRC has been the topic of several recent research reports. Janney Montgomery Scott initiated coverage on Spirit Realty Capital in a report on Wednesday, September 7th. They issued a “buy” rating and a $14.50 price target on the stock. They noted that the move was a valuation call. Zacks Investment Research upgraded Spirit Realty Capital from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Tuesday, August 9th. Wunderlich raised their price target on Spirit Realty Capital from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, August 9th. BTIG Research initiated coverage on Spirit Realty Capital in a report on Thursday, August 25th. They issued a “buy” rating and a $15.00 price target on the stock. Finally, Morgan Stanley upgraded Spirit Realty Capital from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $11.00 to $15.00 in a report on Wednesday, September 7th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $13.05.
In other news, CEO Thomas H. Nolan, Jr. sold 15,000 shares of the business’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $13.23, for a total transaction of $198,450.00. Following the completion of the transaction, the chief executive officer now owns 858,186 shares of the company’s stock, valued at approximately $11,353,800.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.50% of the company’s stock.
Spirit Realty Capital Company Profile
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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