Equities research analysts expect Spirit Realty Capital, Inc. (NYSE:SRC) to announce earnings of $0.20 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Spirit Realty Capital’s earnings, with estimates ranging from $0.19 to $0.22. Spirit Realty Capital posted earnings per share of $0.06 in the same quarter last year, which suggests a positive year over year growth rate of 233.3%. The company is scheduled to announce its next quarterly earnings report on Wednesday, November 1st.

On average, analysts expect that Spirit Realty Capital will report full year earnings of $0.79 per share for the current year, with EPS estimates ranging from $0.76 to $0.82. For the next year, analysts anticipate that the company will post earnings of $0.81 per share, with EPS estimates ranging from $0.75 to $0.86. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Spirit Realty Capital.

Spirit Realty Capital (NYSE:SRC) last issued its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The business had revenue of $168.65 million during the quarter, compared to the consensus estimate of $163.19 million. Spirit Realty Capital had a return on equity of 1.74% and a net margin of 9.47%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.22 EPS.

Several equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Spirit Realty Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, August 15th. BidaskClub raised Spirit Realty Capital from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 17th. Royal Bank Of Canada boosted their target price on Spirit Realty Capital from $8.00 to $9.00 and gave the stock a “sector perform” rating in a report on Friday, August 4th. Ladenburg Thalmann Financial Services reissued a “hold” rating on shares of Spirit Realty Capital in a report on Friday, August 4th. Finally, ValuEngine cut Spirit Realty Capital from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $9.92.

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Shares of Spirit Realty Capital (NYSE SRC) traded up 0.81% during trading on Friday, hitting $8.74. The stock had a trading volume of 12,830,983 shares. The firm has a market cap of $4.01 billion, a P/E ratio of 66.21 and a beta of 0.53. The firm’s 50-day moving average is $8.42 and its 200-day moving average is $8.64. Spirit Realty Capital has a one year low of $6.64 and a one year high of $13.86.

Spirit Realty Capital declared that its board has initiated a stock buyback plan on Monday, August 14th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

In related news, Director Todd A. Dunn purchased 14,000 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were bought at an average price of $8.49 per share, with a total value of $118,860.00. Following the completion of the acquisition, the director now owns 64,560 shares of the company’s stock, valued at $548,114.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Phillip D. Joseph, Jr. purchased 3,636 shares of the company’s stock in a transaction on Monday, August 7th. The stock was bought at an average cost of $8.25 per share, for a total transaction of $29,997.00. Following the acquisition, the chief financial officer now directly owns 138,504 shares of the company’s stock, valued at approximately $1,142,658. The disclosure for this purchase can be found here. Insiders acquired 24,697 shares of company stock worth $207,130 in the last ninety days. 0.50% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Canada Pension Plan Investment Board increased its holdings in shares of Spirit Realty Capital by 104.6% in the second quarter. Canada Pension Plan Investment Board now owns 165,900 shares of the real estate investment trust’s stock valued at $1,229,000 after buying an additional 84,800 shares in the last quarter. Global Financial Private Capital LLC bought a new position in shares of Spirit Realty Capital in the first quarter valued at $274,000. Oppenheimer & Co. Inc. bought a new position in shares of Spirit Realty Capital in the first quarter valued at $221,000. Schroder Investment Management Group increased its holdings in shares of Spirit Realty Capital by 16.4% in the first quarter. Schroder Investment Management Group now owns 44,267 shares of the real estate investment trust’s stock valued at $444,000 after buying an additional 6,244 shares in the last quarter. Finally, Goodwin Daniel L increased its holdings in shares of Spirit Realty Capital by 285.7% in the second quarter. Goodwin Daniel L now owns 67,503 shares of the real estate investment trust’s stock valued at $500,000 after buying an additional 50,000 shares in the last quarter. 94.38% of the stock is currently owned by institutional investors.

About Spirit Realty Capital

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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Earnings History and Estimates for Spirit Realty Capital (NYSE:SRC)

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