Spirit Realty Capital Inc. (SRC) Sees Unusually-High Trading Volume
Shares of Spirit Realty Capital Inc. (NYSE:SRC) saw unusually-strong trading volume on Tuesday . Approximately 3,244,520 shares changed hands during trading, a decline of 14% from the previous session’s volume of 3,771,382 shares.The stock last traded at $12.93 and had previously closed at $12.78.
Several equities research analysts have issued reports on SRC shares. Deutsche Bank AG reiterated a “buy” rating on shares of Spirit Realty Capital in a research report on Friday, April 15th. TheStreet upgraded shares of Spirit Realty Capital from a “hold” rating to a “buy” rating in a research report on Thursday, May 12th. Wunderlich boosted their price objective on shares of Spirit Realty Capital from $12.50 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, May 10th. Finally, Oppenheimer Holdings Inc. upgraded shares of Spirit Realty Capital from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a report on Friday, March 11th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Spirit Realty Capital currently has an average rating of “Buy” and a consensus price target of $11.55.
The stock has a market cap of $6.15 billion and a P/E ratio of 49.0900. The company has a 50-day moving average of $11.91 and a 200 day moving average of $11.03.
Spirit Realty Capital (NYSE:SRC) last released its earnings results on Wednesday, May 4th. 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 firm earned $168.40 million during the quarter, compared to analysts’ expectations of $162.51 million. The company’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.21 earnings per share. On average, analysts anticipate that Spirit Realty Capital Inc. will post $0.87 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date is Tuesday, June 28th.
In other Spirit Realty Capital news, CEO Thomas H. Nolan, Jr. sold 15,000 shares of the stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $11.48, for a total transaction of $172,200.00. Following the completion of the sale, the chief executive officer now directly owns 873,186 shares of the company’s stock, valued at approximately $10,024,175.28. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of large investors recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Spirit Realty Capital by 5.0% in the fourth quarter. Vanguard Group Inc. now owns 62,476,210 shares of the real estate investment trust’s stock worth $626,012,000 after buying an additional 2,994,914 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of 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. Russell Frank Co raised its stake in shares of Spirit Realty Capital by 9.3% in the fourth quarter. Russell Frank Co now owns 2,156,538 shares of the real estate investment trust’s stock worth $21,533,000 after buying an additional 183,479 shares during the period. American Century Companies Inc. bought a new stake in shares of Spirit Realty Capital during the fourth quarter worth about $17,902,000. Finally, Bradley Foster & Sargent Inc. CT raised its stake in shares of Spirit Realty Capital by 18.2% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 1,229,445 shares of the real estate investment trust’s stock worth $12,319,000 after buying an additional 189,493 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.