Allspring Global Investments Holdings LLC increased its holdings in shares of Spirit Realty Capital, Inc. (NYSE:SRC – Get Rating) by 26.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,554 shares of the real estate investment trust's stock after purchasing an additional 530 shares during the period. Allspring Global Investments Holdings LLC's holdings in Spirit Realty Capital were worth $92,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the business. CoreCap Advisors LLC bought a new position in Spirit Realty Capital in the second quarter worth approximately $28,000. Householder Group Estate & Retirement Specialist LLC bought a new position in Spirit Realty Capital in the third quarter worth approximately $43,000. Parallel Advisors LLC boosted its holdings in Spirit Realty Capital by 24.5% in the second quarter. Parallel Advisors LLC now owns 1,230 shares of the real estate investment trust's stock worth $46,000 after acquiring an additional 242 shares in the last quarter. Covestor Ltd boosted its holdings in Spirit Realty Capital by 255.6% in the first quarter. Covestor Ltd now owns 1,330 shares of the real estate investment trust's stock worth $61,000 after acquiring an additional 956 shares in the last quarter. Finally, EverSource Wealth Advisors LLC bought a new position in Spirit Realty Capital in the second quarter worth approximately $69,000. Institutional investors and hedge funds own 93.01% of the company's stock.
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Wall Street Analyst Weigh In
Several research analysts have issued reports on the company. StockNews.com assumed coverage on Spirit Realty Capital in a report on Wednesday, October 12th. They issued a "hold" rating on the stock. Raymond James lowered Spirit Realty Capital from an "outperform" rating to a "market perform" rating in a report on Monday, January 9th. Bank of America lowered Spirit Realty Capital from a "buy" rating to a "neutral" rating and raised their target price for the company from $42.00 to $43.00 in a report on Monday, November 14th. Mizuho raised their target price on Spirit Realty Capital from $37.00 to $42.00 and gave the company a "neutral" rating in a report on Thursday, December 8th. Finally, Oppenheimer started coverage on Spirit Realty Capital in a report on Wednesday, October 19th. They issued a "market perform" rating and a $37.00 target price on the stock. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $43.78.
Insiders Place Their Bets
In other news, Director Richard I. Gilchrist bought 6,000 shares of the firm's stock in a transaction on Thursday, December 1st. The stock was acquired at an average cost of $41.91 per share, with a total value of $251,460.00. Following the completion of the transaction, the director now directly owns 44,409 shares of the company's stock, valued at approximately $1,861,181.19. The transaction was disclosed in a document filed with the SEC, which is available at
this hyperlink. Company insiders own 0.58% of the company's stock.
Spirit Realty Capital Stock Performance
Shares of SRC opened at $42.89 on Monday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $5.99 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 6.41 and a beta of 1.22. The stock has a 50 day moving average of $41.08 and a 200 day moving average of $40.45. Spirit Realty Capital, Inc. has a 12 month low of $34.31 and a 12 month high of $48.24.
Spirit Realty Capital (NYSE:SRC – Get Rating) last issued its quarterly earnings results on Tuesday, November 8th. The real estate investment trust reported $0.54 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 business had revenue of $180.30 million for the quarter, compared to analysts' expectations of $179.54 million. As a group, sell-side analysts forecast that Spirit Realty Capital, Inc. will post 3.44 earnings per share for the current year.
Spirit Realty Capital Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Friday, December 30th were given a $0.663 dividend. This represents a $2.65 dividend on an annualized basis and a yield of 6.18%. The ex-dividend date of this dividend was Thursday, December 29th. Spirit Realty Capital's dividend payout ratio is currently 139.47%.
About Spirit Realty Capital
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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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