Traders Buy Shares of Spirit Realty Capital Inc. (SRC) on Weakness
Traders purchased shares of Spirit Realty Capital Inc. (NYSE:SRC) on weakness during trading hours on Thursday. $31.32 million flowed into the stock on the tick-up and $9.43 million flowed out of the stock on the tick-down, for a money net flow of $21.89 million into the stock. Of all stocks tracked, Spirit Realty Capital had the 19th highest net in-flow for the day. Spirit Realty Capital traded down ($0.10) for the day and closed at $12.96
A number of equities research analysts recently weighed in on SRC shares. Oppenheimer Holdings Inc. upgraded Spirit Realty Capital from a “market perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a research note on Friday, March 11th. Deutsche Bank AG restated a “buy” rating on shares of Spirit Realty Capital in a research note on Friday, April 15th. Wunderlich increased their price target 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, TheStreet upgraded Spirit Realty Capital from a “hold” rating to a “buy” rating in a research note on Thursday, May 12th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $11.55.
The company has a market cap of $6.30 billion and a P/E ratio of 50.34. The stock has a 50 day moving average of $12.00 and a 200-day moving average of $11.06.
Spirit Realty Capital (NYSE:SRC) last announced its earnings results on Wednesday, May 4th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.01. The company had revenue of $168.40 million for the quarter, compared to analysts’ expectations of $162.51 million. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.21 EPS. On average, equities research analysts anticipate that Spirit Realty Capital Inc. will post $0.87 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be given a dividend of $0.175 per share. The ex-dividend date is Tuesday, June 28th. This represents a $0.70 annualized dividend and a dividend yield of 5.33%.
In other Spirit Realty Capital news, CEO Thomas H. Nolan, Jr. sold 15,000 shares of the business’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $11.48, for a total value of $172,200.00. Following the transaction, the chief executive officer now 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 can be accessed through the SEC website.
A number of hedge funds and institutional investors have bought and sold shares of the company. Principal Financial Group Inc. boosted its position in Spirit Realty Capital by 56.2% in the fourth quarter. Principal Financial Group Inc. now owns 106,791 shares of the real estate investment trust’s stock valued at $1,070,000 after buying an additional 38,426 shares in the last quarter. Bank of Montreal Can boosted its position in 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 in the last quarter. ProShare Advisors LLC boosted its position in Spirit Realty Capital by 11.9% in the fourth quarter. ProShare Advisors LLC now owns 159,487 shares of the real estate investment trust’s stock valued at $1,598,000 after buying an additional 16,925 shares in the last quarter. First Trust Advisors LP boosted its position 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. Finally, Rhumbline Advisers boosted its position 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.
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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