Spirit Realty Capital, Inc. (NYSE:SRC – Get Rating) was the recipient of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 2,050,000 shares, a growth of 17.1% from the December 31st total of 1,750,000 shares. Based on an average trading volume of 686,900 shares, the days-to-cover ratio is presently 3.0 days.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on SRC shares. StockNews.com started coverage on Spirit Realty Capital in a research note on Wednesday, October 12th. They set a "hold" rating for the company. Oppenheimer started coverage on Spirit Realty Capital in a research note on Wednesday, October 19th. They set a "market perform" rating and a $37.00 price target for the company. Mizuho raised their price target on Spirit Realty Capital from $37.00 to $42.00 and gave the stock a "neutral" rating in a research note on Thursday, December 8th. Raymond James downgraded Spirit Realty Capital from an "outperform" rating to a "market perform" rating in a research note on Monday, January 9th. Finally, Bank of America downgraded Spirit Realty Capital from a "buy" rating to a "neutral" rating and raised their price target for the stock from $42.00 to $43.00 in a research note on Monday, November 14th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Spirit Realty Capital currently has an average rating of "Hold" and an average price target of $43.78.
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Insiders Place Their Bets
In other Spirit Realty Capital news, Director Richard I. Gilchrist acquired 6,000 shares of the firm's stock in a transaction 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 transaction, the director now owns 44,409 shares of the company's stock, valued at approximately $1,861,181.19. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.58% of the company's stock.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. CoreCap Advisors LLC bought a new position in Spirit Realty Capital in the 2nd quarter worth approximately $28,000. First Personal Financial Services bought a new position in Spirit Realty Capital in the 3rd quarter worth approximately $37,000. Householder Group Estate & Retirement Specialist LLC bought a new position in Spirit Realty Capital in the 3rd quarter worth approximately $43,000. Parallel Advisors LLC increased its position in 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 worth $46,000 after buying an additional 242 shares during the period. Finally, Concord Wealth Partners acquired a new stake in shares of Spirit Realty Capital during the 4th quarter worth approximately $56,000. 93.01% of the stock is owned by institutional investors.
Spirit Realty Capital Stock Performance
Shares of SRC stock traded down $0.15 during trading on Monday, reaching $42.74. The company had a trading volume of 486,014 shares, compared to its average volume of 626,148. The firm's 50 day simple moving average is $41.10 and its two-hundred day simple moving average is $40.47. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.74 and a quick ratio of 0.74. Spirit Realty Capital has a one year low of $34.31 and a one year high of $48.24. The company has a market capitalization of $5.97 billion, a PE ratio of 22.49, a PEG ratio of 6.41 and a beta of 1.22.
Spirit Realty Capital (NYSE:SRC – Get Rating) last issued its quarterly earnings data on Tuesday, November 8th. The real estate investment trust reported $0.54 earnings per share for the quarter, missing analysts' consensus estimates of $0.86 by ($0.32). The company had revenue of $180.30 million during the quarter, compared to the consensus estimate of $179.54 million. Spirit Realty Capital had a net margin of 37.70% and a return on equity of 6.16%. Sell-side analysts forecast that Spirit Realty Capital will post 3.44 earnings per share for the current year.
Spirit Realty Capital Dividend Announcement
The firm also recently declared 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 annualized dividend and a yield of 6.20%. The ex-dividend date 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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