Spirit Realty Capital Inc. (SRC) Hits New 52-Week High at $13.32
Spirit Realty Capital Inc. (NYSE:SRC) shares 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 traded. The stock had previously closed at $13.25.
SRC has been the subject of several research analyst reports. Deutsche Bank AG reaffirmed a “buy” rating on shares of Spirit Realty Capital in a research note on Friday, April 15th. Wunderlich raised their price objective on shares of 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 raised shares of Spirit Realty Capital from a “hold” rating to a “buy” rating in a research note on Thursday, May 12th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Spirit Realty Capital currently has a consensus rating of “Buy” and an average target price of $11.67.
The firm’s 50 day moving average is $12.55 and its 200 day moving average is $11.34. The stock has a market cap of $6.33 billion and a PE ratio of 50.57.
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 for the quarter, beating the consensus estimate of $0.21 by $0.01. During the same period in the previous year, the firm posted $0.21 EPS. The firm earned $168.40 million during the quarter, compared to analyst estimates of $162.51 million. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities analysts forecast that Spirit Realty Capital Inc. will post $0.87 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 5.30%. The ex-dividend date of this dividend was Tuesday, June 28th.
In other news, CEO Thomas H. Nolan, Jr. sold 15,000 shares of the company’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 transaction, the chief executive officer now owns 873,186 shares of the company’s stock, valued at approximately $10,024,175.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Other hedge funds and institutional investors recently bought and sold shares of the company. Bank of Montreal Can increased 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 worth $1,328,000 after buying an additional 119,222 shares in the last quarter. ProShare Advisors LLC increased 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 worth $1,598,000 after buying an additional 16,925 shares in the last quarter. First Trust Advisors LP increased 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 worth $1,703,000 after buying an additional 10,177 shares in the last quarter. Rhumbline Advisers increased 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 worth $3,029,000 after buying an additional 9,310 shares in the last quarter. Finally, California Public Employees Retirement System increased its position 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 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.