Spirit Realty Capital Inc. (NYSE:SRC) announced a quarterly dividend on Thursday, September 15th. Shareholders of record on Friday, September 30th will be paid a dividend of 0.175 per share by the real estate investment trust on Friday, October 14th. This represents a $0.70 annualized dividend and a dividend yield of 5.09%. The ex-dividend date of this dividend is Wednesday, September 28th.

In other news, CEO Thomas H. Nolan, Jr. sold 15,000 shares of the business’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $13.23, for a total transaction of $198,450.00. Following the completion of the sale, the chief executive officer now directly owns 858,186 shares of the company’s stock, valued at $11,353,800.78. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.50% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of SRC. BlackRock Japan Co. Ltd increased its stake in Spirit Realty Capital by 6.8% in the second quarter. BlackRock Japan Co. Ltd now owns 25,101 shares of the real estate investment trust’s stock valued at $321,000 after buying an additional 1,594 shares during the last quarter. Profund Advisors LLC increased its stake in Spirit Realty Capital by 23.2% in the second quarter. Profund Advisors LLC now owns 28,595 shares of the real estate investment trust’s stock valued at $365,000 after buying an additional 5,382 shares during the last quarter. Prudential Financial Inc. increased its stake in Spirit Realty Capital by 11.6% in the second quarter. Prudential Financial Inc. now owns 28,852 shares of the real estate investment trust’s stock valued at $368,000 after buying an additional 3,000 shares during the last quarter. OMERS ADMINISTRATION Corp increased its stake in Spirit Realty Capital by 34.0% in the second quarter. OMERS ADMINISTRATION Corp now owns 34,700 shares of the real estate investment trust’s stock valued at $443,000 after buying an additional 8,800 shares during the last quarter. Finally, Janus Capital Management LLC increased its stake in Spirit Realty Capital by 91.2% in the second quarter. Janus Capital Management LLC now owns 41,100 shares of the real estate investment trust’s stock valued at $525,000 after buying an additional 19,600 shares during the last quarter. 95.35% of the stock is owned by institutional investors.

Several analysts have commented on the stock. Janney Montgomery Scott assumed coverage on shares of Spirit Realty Capital in a research report on Wednesday, September 7th. They set a “buy” rating and a $14.50 target price for the company. They noted that the move was a valuation call. Morgan Stanley upgraded shares of Spirit Realty Capital from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $11.00 to $15.00 in a research report on Wednesday, September 7th. BTIG Research initiated coverage on shares of Spirit Realty Capital in a research report on Thursday, August 25th. They issued a “buy” rating and a $15.00 price objective for the company. Zacks Investment Research cut shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a research report on Friday, August 12th. Finally, Wunderlich upped their price objective on shares of Spirit Realty Capital from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, August 9th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Spirit Realty Capital currently has an average rating of “Buy” and an average price target of $13.05.

Shares of Spirit Realty Capital (NYSE:SRC) opened at 13.75 on Friday. The firm has a market capitalization of $6.60 billion, a P/E ratio of 61.38 and a beta of 0.54. Spirit Realty Capital has a 52 week low of $8.90 and a 52 week high of $13.97. The company has a 50-day moving average of $13.27 and a 200 day moving average 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 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. Spirit Realty Capital had a net margin of 15.36% and a return on equity of 2.91%. The firm earned $171.70 million during the quarter, compared to the consensus estimate of $164.29 million. During the same period in the previous year, the firm posted $0.22 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. Equities research analysts anticipate that Spirit Realty Capital will post $0.88 earnings per share for the current year.

About Spirit Realty Capital

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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