Spirit Realty Capital, Inc. (NYSE:SRC) Position Trimmed by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System decreased its position in shares of Spirit Realty Capital, Inc. (NYSE:SRC) by 2.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 131,201 shares of the real estate investment trust’s stock after selling 3,593 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Spirit Realty Capital were worth $6,040,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Private Capital Group LLC boosted its holdings in shares of Spirit Realty Capital by 34.3% during the third quarter. Private Capital Group LLC now owns 924 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 236 shares during the period. NEXT Financial Group Inc boosted its holdings in shares of Spirit Realty Capital by 67.9% during the third quarter. NEXT Financial Group Inc now owns 992 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 401 shares during the period. Advisory Services Network LLC acquired a new position in shares of Spirit Realty Capital during the second quarter valued at $151,000. Greenleaf Trust acquired a new position in shares of Spirit Realty Capital during the second quarter valued at $206,000. Finally, Bridgefront Capital LLC acquired a new position in shares of Spirit Realty Capital during the second quarter valued at $207,000. 93.08% of the stock is owned by institutional investors.

Shares of NYSE SRC opened at $49.61 on Friday. Spirit Realty Capital, Inc. has a twelve month low of $36.95 and a twelve month high of $52.29. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $6.12 billion, a price-to-earnings ratio of 39.37, a PEG ratio of 2.08 and a beta of 1.32. The firm has a 50-day moving average of $47.35 and a two-hundred day moving average of $48.64.

Spirit Realty Capital (NYSE:SRC) last issued its quarterly earnings results on Tuesday, November 2nd. The real estate investment trust reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.48). Spirit Realty Capital had a net margin of 26.94% and a return on equity of 4.48%. The business had revenue of $151.38 million during the quarter, compared to analyst estimates of $151.95 million. During the same period in the previous year, the company posted $0.72 earnings per share. As a group, research analysts predict that Spirit Realty Capital, Inc. will post 3.19 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, January 14th. Shareholders of record on Friday, December 31st were issued a $0.638 dividend. This represents a $2.55 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date of this dividend was Thursday, December 30th. Spirit Realty Capital’s payout ratio is 202.38%.

SRC has been the subject of several analyst reports. Royal Bank of Canada initiated coverage on shares of Spirit Realty Capital in a report on Friday, September 17th. They set a “sector perform” rating and a $53.00 price target for the company. Jefferies Financial Group downgraded shares of Spirit Realty Capital from a “buy” rating to a “hold” rating and reduced their price target for the company from $56.00 to $52.00 in a report on Monday, January 10th. Janney Montgomery Scott raised shares of Spirit Realty Capital from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $52.00 to $53.00 in a report on Wednesday. Morgan Stanley reduced their price objective on shares of Spirit Realty Capital from $55.00 to $50.00 and set an “equal weight” rating for the company in a report on Friday, December 3rd. Finally, Mizuho upped their price objective on shares of Spirit Realty Capital from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, November 30th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $53.45.

Spirit Realty Capital Company Profile

Spirit Realty Capital, Inc operates as a holding company. Its in-house capabilities include acquisition, portfolio management, asset management, credit research, real estate research, legal, finance and accounting and capital markets. The company was founded on August 14, 2003 and is headquartered in Dallas, TX.

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

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