Teachers Insurance & Annuity Association of America grew its position in shares of Spirit Realty Capital, Inc. (NYSE:SRC) by 1.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 483,394 shares of the real estate investment trust’s stock after acquiring an additional 7,238 shares during the quarter. Teachers Insurance & Annuity Association of America owned 0.10% of Spirit Realty Capital worth $3,582,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. World Asset Management Inc boosted its holdings in shares of Spirit Realty Capital by 0.4% in the 2nd quarter. World Asset Management Inc now owns 24,245 shares of the real estate investment trust’s stock valued at $180,000 after buying an additional 108 shares during the last quarter. Cornerstone Wealth Management LLC boosted its holdings in shares of Spirit Realty Capital by 0.5% in the 1st quarter. Cornerstone Wealth Management LLC now owns 22,501 shares of the real estate investment trust’s stock valued at $232,000 after buying an additional 120 shares during the last quarter. Lincoln National Corp boosted its holdings in shares of Spirit Realty Capital by 1.3% in the 2nd quarter. Lincoln National Corp now owns 18,259 shares of the real estate investment trust’s stock valued at $136,000 after buying an additional 232 shares during the last quarter. Investment Centers of America Inc. boosted its holdings in shares of Spirit Realty Capital by 2.6% in the 1st quarter. Investment Centers of America Inc. now owns 13,850 shares of the real estate investment trust’s stock valued at $141,000 after buying an additional 350 shares during the last quarter. Finally, Telos Capital Management Inc. boosted its holdings in shares of Spirit Realty Capital by 1.0% in the 2nd quarter. Telos Capital Management Inc. now owns 49,633 shares of the real estate investment trust’s stock valued at $368,000 after buying an additional 510 shares during the last quarter. 94.12% of the stock is owned by hedge funds and other institutional investors.

Shares of Spirit Realty Capital, Inc. (SRC) traded down 0.860% during midday trading on Tuesday, reaching $8.645. The company’s stock had a trading volume of 1,592,873 shares. The firm has a 50-day moving average of $8.46 and a 200-day moving average of $8.58. The stock has a market cap of $3.96 billion, a PE ratio of 65.492 and a beta of 0.53. Spirit Realty Capital, Inc. has a one year low of $6.64 and a one year high of $13.86.

Spirit Realty Capital (NYSE:SRC) last posted its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.01. Spirit Realty Capital had a return on equity of 1.74% and a net margin of 9.47%. The business had revenue of $168.65 million for the quarter, compared to analysts’ expectations of $163.19 million. During the same quarter in the previous year, the firm earned $0.22 earnings per share. The business’s revenue was down 1.8% on a year-over-year basis. On average, analysts forecast that Spirit Realty Capital, Inc. will post $0.21 EPS for the current year.

Spirit Realty Capital declared that its board has authorized a stock buyback program on Monday, August 14th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to buy up to 6.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be given a $0.18 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.72 annualized dividend and a yield of 8.26%. Spirit Realty Capital’s dividend payout ratio is currently 514.29%.

In other Spirit Realty Capital news, CFO Phillip D. Joseph, Jr. acquired 3,636 shares of the business’s stock in a transaction on Monday, August 7th. The shares were acquired at an average price of $8.25 per share, with a total value of $29,997.00. Following the completion of the transaction, the chief financial officer now owns 138,504 shares in the company, valued at $1,142,658. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Todd A. Dunn acquired 14,000 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was acquired at an average cost of $8.49 per share, for a total transaction of $118,860.00. Following the transaction, the director now owns 64,560 shares of the company’s stock, valued at approximately $548,114.40. The disclosure for this purchase can be found here. In the last three months, insiders acquired 24,697 shares of company stock worth $207,130. Insiders own 0.50% of the company’s stock.

Several equities research analysts have recently commented on SRC shares. BidaskClub raised Spirit Realty Capital from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. ValuEngine downgraded Spirit Realty Capital from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Ladenburg Thalmann Financial Services reissued a “hold” rating on shares of Spirit Realty Capital in a report on Friday, August 4th. Royal Bank Of Canada increased their price objective on Spirit Realty Capital from $8.00 to $9.00 and gave the company a “sector perform” rating in a report on Friday, August 4th. Finally, Zacks Investment Research raised Spirit Realty Capital from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Spirit Realty Capital has an average rating of “Hold” and a consensus target price of $9.92.

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Spirit Realty Capital Profile

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.

Institutional Ownership by Quarter for Spirit Realty Capital (NYSE:SRC)

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