Spirit Realty Capital Inc. (SRC) Shares Down 2.1%
Spirit Realty Capital Inc. (NYSE:SRC)’s share price dropped 2.1% on Thursday . The stock traded as low as $12.72 and last traded at $12.79, with a volume of 5,372,001 shares changing hands. The stock had previously closed at $13.06.
SRC has been the subject of several analyst reports. Deutsche Bank AG restated a “buy” rating on shares of Spirit Realty Capital in a report on Friday, April 15th. Oppenheimer Holdings Inc. upgraded 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. Wunderlich raised their price objective 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. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $11.55.
The company has a market capitalization of $6.22 billion and a PE ratio of 49.66. The stock has a 50 day moving average of $11.95 and a 200 day moving average of $11.04.
Spirit Realty Capital (NYSE:SRC) last posted its earnings results on Wednesday, May 4th. The real estate investment trust reported $0.22 EPS for the quarter, topping the consensus estimate of $0.21 by $0.01. The business had revenue of $168.40 million for the quarter, compared to the consensus estimate of $162.51 million. The company’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.21 earnings per share. Analysts anticipate that Spirit Realty Capital Inc. will post $0.87 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 5.40%. The ex-dividend date of this dividend is Tuesday, June 28th.
In other news, CEO Thomas H. Nolan, Jr. sold 15,000 shares of the business’s stock in a transaction dated 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 $10,024,175.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. increased 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 last quarter. Dimensional Fund Advisors LP increased 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 last quarter. Russell Frank Co increased 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 last quarter. American Century Companies Inc. purchased a new stake in shares of Spirit Realty Capital during the fourth quarter worth about $17,902,000. Finally, Bradley Foster & Sargent Inc. CT increased 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 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.