Spirit Realty Capital, Inc. (NYSE:SRC) has been assigned a $9.00 target price by analysts at B. Riley in a research note issued to investors on Tuesday. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. B. Riley’s price objective points to a potential upside of 4.41% from the company’s previous close.

Several other research firms have also commented on SRC. Zacks Investment Research raised shares of Spirit Realty Capital from a “hold” rating to a “buy” rating and set a $9.50 price target for the company in a research report on Thursday, October 12th. Bank of America Corporation raised shares of Spirit Realty Capital from an “underperform” rating to a “buy” rating and increased their price target for the company from $6.50 to $9.75 in a research report on Wednesday, August 16th. Ladenburg Thalmann Financial Services reissued a “hold” rating on shares of Spirit Realty Capital in a research report on Friday, August 4th. BidaskClub raised shares of Spirit Realty Capital from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 17th. Finally, SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $8.50 price objective on shares of Spirit Realty Capital in a research report on Friday, November 3rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $9.47.

Spirit Realty Capital (NYSE SRC) opened at $8.62 on Tuesday. The stock has a market cap of $3,902.48, a PE ratio of 10.07 and a beta of 0.56. Spirit Realty Capital has a 1-year low of $6.64 and a 1-year high of $11.29. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.19.

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

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Institutional investors and hedge funds have recently bought and sold shares of the business. New England Investment & Retirement Group Inc. purchased a new position in Spirit Realty Capital during the 2nd quarter worth approximately $100,000. Vivaldi Capital Management LLC purchased a new position in Spirit Realty Capital during the 2nd quarter worth approximately $111,000. PNC Financial Services Group Inc. raised its position in Spirit Realty Capital by 24.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 11,684 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 2,265 shares during the last quarter. Chicago Equity Partners LLC purchased a new position in Spirit Realty Capital during the 2nd quarter worth approximately $119,000. Finally, Harvest Fund Management Co. Ltd raised its position in Spirit Realty Capital by 123.3% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 16,662 shares of the real estate investment trust’s stock worth $123,000 after buying an additional 9,200 shares during the last quarter. 92.86% of the stock is owned by institutional investors.

Spirit Realty Capital Company 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.

Analyst Recommendations for Spirit Realty Capital (NYSE:SRC)

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