Shares of Spirit Realty Capital Inc. (NYSE:SRC) have earned an average rating of “Buy” from the twelve analysts that are currently covering the firm. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $13.14.
Several brokerages have recently weighed in on SRC. Janney Montgomery Scott began coverage on Spirit Realty Capital in a research report on Wednesday, September 7th. They issued a “buy” rating and a $14.50 target price for the company. They noted that the move was a valuation call. Morgan Stanley raised Spirit Realty Capital from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $11.00 to $15.00 in a research report on Wednesday, September 7th. Zacks Investment Research downgraded Spirit Realty Capital from a “buy” rating to a “hold” rating in a research report on Friday, August 12th. BTIG Research began coverage on Spirit Realty Capital in a research report on Thursday, August 25th. They issued a “buy” rating and a $15.00 target price for the company. Finally, Wunderlich upped their target price on Spirit Realty Capital from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, August 9th.
In related news, CEO Thomas H. Nolan, Jr. sold 15,000 shares of the stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $13.23, for a total value of $198,450.00. Following the completion of the transaction, the chief executive officer now owns 858,186 shares of the company’s stock, valued at $11,353,800.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of SRC. Bayesian Capital Management LP purchased a new stake in shares of Spirit Realty Capital during the first quarter valued at about $119,000. Boothbay Fund Management LLC purchased a new stake in shares of Spirit Realty Capital during the first quarter valued at about $127,000. National Planning Corp purchased a new stake in shares of Spirit Realty Capital during the first quarter valued at about $133,000. Acadian Asset Management LLC purchased a new stake in shares of Spirit Realty Capital during the second quarter valued at about $137,000. Finally, New England Investment & Retirement Group Inc. purchased a new stake in shares of Spirit Realty Capital during the second quarter valued at about $139,000. 95.35% of the stock is owned by hedge funds and other institutional investors.
Spirit Realty Capital (NYSE:SRC) opened at 12.29 on Thursday. The firm has a market cap of $5.90 billion, a price-to-earnings ratio of 54.87 and a beta of 0.54. The firm’s 50-day moving average price is $13.21 and its 200 day moving average price is $12.40. Spirit Realty Capital has a 52-week low of $8.90 and a 52-week high of $13.97.
Spirit Realty Capital (NYSE:SRC) last posted its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.01. Spirit Realty Capital had a return on equity of 2.91% and a net margin of 15.36%. The firm earned $171.70 million during the quarter, compared to the consensus estimate of $164.29 million. During the same quarter in the previous year, the business earned $0.22 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts forecast that Spirit Realty Capital will post $0.87 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 5.70%. The ex-dividend date of this dividend is Wednesday, September 28th. Spirit Realty Capital’s dividend payout ratio is currently 304.36%.