Spirit Realty Capital Inc. (SRC) Stock Price Down 1.7%
Spirit Realty Capital Inc. (NYSE:SRC) was down 1.7% on Thursday . The company traded as low as $12.97 and last traded at $12.99, with a volume of 1,230,014 shares trading hands. The stock had previously closed at $13.21.
SRC has been the topic of several research reports. Deutsche Bank AG reissued a “buy” rating on shares of Spirit Realty Capital in a research note on Friday, April 15th. 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 research note on Tuesday, May 10th. Finally, TheStreet raised shares of Spirit Realty Capital from a “hold” rating to a “buy” rating in a research note on Thursday, May 12th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Spirit Realty Capital currently has a consensus rating of “Buy” and an average price target of $11.55.
The firm’s 50-day moving average is $12.25 and its 200-day moving average is $11.17. The company has a market capitalization of $6.20 billion and a PE ratio of 49.54.
Spirit Realty Capital (NYSE:SRC) last posted its quarterly earnings results on Wednesday, May 4th. The real estate investment trust reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.01. The company earned $168.40 million during the quarter, compared to analysts’ expectations of $162.51 million. During the same period in the prior year, the business earned $0.21 EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. Equities 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 was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 5.41%. The ex-dividend date of this dividend was Tuesday, June 28th.
In related news, CEO Thomas H. Nolan, Jr. sold 15,000 shares of Spirit Realty Capital stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $11.48, for a total value of $172,200.00. Following the completion of the sale, the chief executive officer now directly owns 873,186 shares in the company, valued at approximately $10,024,175.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Other hedge funds recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in 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. Bank of Montreal Can boosted its stake 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 worth $1,328,000 after buying an additional 119,222 shares during the period. Vanguard Group Inc. boosted its stake in 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. Teacher Retirement System of Texas boosted its stake in Spirit Realty Capital by 0.4% in the fourth quarter. Teacher Retirement System of Texas now owns 469,369 shares of the real estate investment trust’s stock worth $4,703,000 after buying an additional 1,642 shares during the period. Finally, ProShare Advisors LLC boosted its stake 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 worth $1,598,000 after buying an additional 16,925 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.
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