Spirit Realty Capital Inc. (SRC) Reaches New 52-Week High at $13.32
Spirit Realty Capital Inc. (NYSE:SRC) hit a new 52-week high on Monday . The stock traded as high as $13.32 and last traded at $13.12, with a volume of 896,991 shares trading hands. The stock had previously closed at $13.25.
SRC has been the subject of several recent research reports. Deutsche Bank AG reissued a “buy” rating on shares of Spirit Realty Capital in a research note on Friday, April 15th. Wunderlich raised their target price on 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 Spirit Realty Capital from a “hold” rating to a “buy” rating in a research note on Thursday, May 12th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Spirit Realty Capital has a consensus rating of “Buy” and a consensus price target of $11.67.
The stock has a market cap of $6.31 billion and a price-to-earnings ratio of 50.38. The stock has a 50-day moving average of $12.47 and a 200 day moving average of $11.27.
Spirit Realty Capital (NYSE:SRC) last issued its quarterly 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. During the same period last year, the firm earned $0.21 EPS. The firm had revenue of $168.40 million for the quarter, compared to the consensus estimate of $162.51 million. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts expect that Spirit Realty Capital Inc. will post $0.87 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 5.28%. The ex-dividend date of this dividend was Tuesday, June 28th.
In other Spirit Realty Capital news, CEO Thomas H. Nolan, Jr. sold 15,000 shares of Spirit Realty Capital stock in a transaction dated Wednesday, June 1st. The stock was 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 owns 873,186 shares of the company’s stock, valued at $10,024,175.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Several large investors recently added to or reduced their stakes in the stock. Bank of Montreal Can raised 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. ProShare Advisors LLC raised 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. First Trust Advisors LP raised its stake 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 worth $1,703,000 after buying an additional 10,177 shares during the period. Rhumbline Advisers raised its stake 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 worth $3,029,000 after buying an additional 9,310 shares during the period. Finally, California Public Employees Retirement System raised its stake in Spirit Realty Capital by 8.4% in the fourth quarter. California Public Employees Retirement System now owns 1,025,046 shares of the real estate investment trust’s stock worth $10,271,000 after buying an additional 79,700 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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