Spirit Realty Capital, Inc. (NYSE:SRC – Get Rating) has earned a consensus recommendation of "Hold" from the ten research firms that are presently covering the firm, Marketbeat reports. Eight equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $43.88.
A number of research analysts have issued reports on SRC shares. Bank of America downgraded Spirit Realty Capital from a "buy" rating to a "neutral" rating and boosted their price target for the company from $42.00 to $43.00 in a report on Monday, November 14th. StockNews.com started coverage on Spirit Realty Capital in a research report on Wednesday, October 12th. They issued a "hold" rating for the company. Oppenheimer started coverage on Spirit Realty Capital in a research report on Wednesday, October 19th. They issued a "market perform" rating and a $37.00 price objective for the company. Truist Financial cut their price objective on Spirit Realty Capital from $52.00 to $50.00 and set a "buy" rating for the company in a research report on Friday, December 2nd. Finally, Raymond James cut Spirit Realty Capital from an "outperform" rating to a "market perform" rating in a research report on Monday, January 9th.
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Insider Buying and Selling
In other news, Director Richard I. Gilchrist purchased 6,000 shares of the company's stock in a transaction that occurred on Thursday, December 1st. The stock was purchased at an average cost of $41.91 per share, for a total transaction of $251,460.00. Following the completion of the transaction, the director now owns 44,409 shares of the company's stock, valued at $1,861,181.19. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.58% of the stock is owned by company insiders.
Institutional Trading of Spirit Realty Capital
Large investors have recently added to or reduced their stakes in the stock. CoreCap Advisors LLC acquired a new position in shares of Spirit Realty Capital in the 2nd quarter valued at $28,000. First Personal Financial Services acquired a new position in shares of Spirit Realty Capital in the 3rd quarter valued at $37,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Spirit Realty Capital in the 3rd quarter valued at $43,000. Parallel Advisors LLC lifted its stake in shares of Spirit Realty Capital by 24.5% in the 2nd quarter. Parallel Advisors LLC now owns 1,230 shares of the real estate investment trust's stock valued at $46,000 after purchasing an additional 242 shares during the last quarter. Finally, Ellevest Inc. lifted its stake in shares of Spirit Realty Capital by 23.5% in the 3rd quarter. Ellevest Inc. now owns 1,637 shares of the real estate investment trust's stock valued at $59,000 after purchasing an additional 311 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.
Spirit Realty Capital Trading Down 0.3 %
Spirit Realty Capital stock opened at $42.20 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.81. Spirit Realty Capital has a 52 week low of $34.31 and a 52 week high of $49.75. The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of 22.21, a price-to-earnings-growth ratio of 6.33 and a beta of 1.22. The stock has a 50-day moving average price of $40.65 and a 200 day moving average price of $40.27.
Spirit Realty Capital (NYSE:SRC – Get Rating) last announced its quarterly earnings results on Tuesday, November 8th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.86 by ($0.32). Spirit Realty Capital had a net margin of 37.70% and a return on equity of 6.16%. The company had revenue of $180.30 million during the quarter, compared to analyst estimates of $179.54 million. Sell-side analysts anticipate that Spirit Realty Capital will post 3.44 EPS for the current year.
Spirit Realty Capital Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 30th were given a dividend of $0.663 per share. This represents a $2.65 annualized dividend and a dividend yield of 6.28%. The ex-dividend date was Thursday, December 29th. Spirit Realty Capital's payout ratio is 139.47%.
Spirit Realty Capital Company Profile
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Spirit Realty Capital, Inc (NYSE: SRC) is a premier net-lease REIT that primarily invests in single-tenant, operationally essential real estate assets, subject to long-term leases. As of September 30, 2020, our diverse portfolio of 1,778 owned properties, with an aggregate leasable area of 37.2 million square feet in 48 states, included retail, industrial and office buildings leased to 296 tenants across 28 retail industries.
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