Spirit Realty Capital Inc. (NYSE:SRC) has been assigned a consensus recommendation of “Buy” from the twelve ratings firms that are presently covering the stock. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $13.14.
SRC has been the subject of several research reports. Morgan Stanley raised Spirit Realty Capital from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $11.00 to $15.00 in a research note on Wednesday, September 7th. Zacks Investment Research raised Spirit Realty Capital from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Tuesday, August 9th. BTIG Research initiated coverage on Spirit Realty Capital in a research note on Thursday, August 25th. They set a “buy” rating and a $15.00 price objective for the company. Wunderlich raised their price objective on Spirit Realty Capital from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, August 9th. Finally, Janney Montgomery Scott initiated coverage on Spirit Realty Capital in a research note on Wednesday, September 7th. They set a “buy” rating and a $14.50 price objective for the company. They noted that the move was a valuation call.
In related news, CEO Thomas H. Nolan, Jr. sold 15,000 shares of the stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $13.23, for a total transaction of $198,450.00. Following the completion of the sale, the chief executive officer now directly owns 858,186 shares in the company, valued at $11,353,800.78. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.50% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Capital Fund Management S.A. purchased a new stake in shares of Spirit Realty Capital during the second quarter valued at about $7,291,000. BlackRock Group LTD raised its stake in shares of Spirit Realty Capital by 3.2% in the first quarter. BlackRock Group LTD now owns 2,945,023 shares of the real estate investment trust’s stock valued at $33,131,000 after buying an additional 91,113 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in shares of Spirit Realty Capital during the first quarter valued at about $291,000. Strs Ohio raised its stake in shares of Spirit Realty Capital by 6.7% in the second quarter. Strs Ohio now owns 690,557 shares of the real estate investment trust’s stock valued at $8,818,000 after buying an additional 43,397 shares in the last quarter. Finally, Utah Retirement Systems raised its stake in shares of Spirit Realty Capital by 10.3% in the second quarter. Utah Retirement Systems now owns 97,700 shares of the real estate investment trust’s stock valued at $1,247,000 after buying an additional 9,100 shares in the last quarter. Institutional investors and hedge funds own 95.35% of the company’s stock.
Shares of Spirit Realty Capital (NYSE:SRC) traded up 0.08% during midday trading on Thursday, reaching $12.40. The company’s stock had a trading volume of 3,356,451 shares. Spirit Realty Capital has a 52 week low of $8.90 and a 52 week high of $13.97. The stock has a market capitalization of $5.95 billion, a PE ratio of 55.36 and a beta of 0.54. The stock has a 50-day moving average price of $13.27 and a 200 day moving average price of $12.39.
Spirit Realty Capital (NYSE:SRC) last issued 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 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 company had revenue of $171.70 million for the quarter, compared to analysts’ expectations of $164.29 million. During the same period last year, the firm earned $0.22 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities analysts forecast that Spirit Realty Capital will post $0.87 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a dividend of $0.175 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.70 annualized dividend and a dividend yield of 5.65%. Spirit Realty Capital’s dividend payout ratio is 304.36%.