Comerica Bank lowered its stake in Spirit Realty Capital, Inc. (NYSE:SRC – Get Rating) by 0.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,690 shares of the real estate investment trust's stock after selling 620 shares during the quarter. Comerica Bank owned 0.05% of Spirit Realty Capital worth $2,632,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. CoreCap Advisors LLC bought a new stake in shares of Spirit Realty Capital in the 2nd quarter valued at $28,000. First Personal Financial Services acquired a new stake in Spirit Realty Capital in the 3rd quarter valued at $37,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in Spirit Realty Capital in the 3rd quarter valued at $43,000. Parallel Advisors LLC grew 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 valued at $46,000 after purchasing an additional 242 shares during the period. Finally, Covestor Ltd grew its position in Spirit Realty Capital by 255.6% in the 1st quarter. Covestor Ltd now owns 1,330 shares of the real estate investment trust's stock valued at $61,000 after purchasing an additional 956 shares during the period. Institutional investors own 93.01% of the company's stock.
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SRC opened at $42.45 on Wednesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.74 and a quick ratio of 0.74. The company has a market capitalization of $5.93 billion, a price-to-earnings ratio of 22.34, a P/E/G ratio of 6.31 and a beta of 1.22. The firm's fifty day moving average price is $40.83 and its two-hundred day moving average price is $40.34. Spirit Realty Capital, Inc. has a 1 year low of $34.31 and a 1 year high of $49.52.
Spirit Realty Capital (NYSE:SRC – Get Rating) last posted its quarterly earnings data 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). The firm had revenue of $180.30 million for the quarter, compared to analysts' expectations of $179.54 million. Spirit Realty Capital had a return on equity of 6.16% and a net margin of 37.70%. As a group, analysts anticipate that Spirit Realty Capital, Inc. will post 3.44 earnings per share for the current fiscal year.Spirit Realty Capital Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 30th were issued a $0.663 dividend. This represents a $2.65 dividend on an annualized basis and a dividend yield of 6.25%. The ex-dividend date of this dividend was Thursday, December 29th. Spirit Realty Capital's dividend payout ratio (DPR) is currently 139.47%.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the stock. Mizuho lifted their price target on shares of Spirit Realty Capital from $37.00 to $42.00 and gave the company a "neutral" rating in a research report on Thursday, December 8th. Raymond James downgraded shares of Spirit Realty Capital from an "outperform" rating to a "market perform" rating in a research report on Monday, January 9th. Oppenheimer assumed coverage on shares of Spirit Realty Capital in a research report on Wednesday, October 19th. They issued a "market perform" rating and a $37.00 price target for the company. StockNews.com assumed coverage on shares of Spirit Realty Capital in a research report on Wednesday, October 12th. They issued a "hold" rating for the company. Finally, Truist Financial reduced their price target on shares of 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. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Spirit Realty Capital presently has a consensus rating of "Hold" and an average target price of $43.78.
Insider Buying and Selling
In related news, Director Richard I. Gilchrist purchased 6,000 shares of the business's stock in a transaction that occurred on Thursday, December 1st. The shares were bought at an average cost of $41.91 per share, with a total value of $251,460.00. Following the acquisition, the director now owns 44,409 shares of the company's stock, valued at $1,861,181.19. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.58% of the stock is owned by insiders.
About Spirit Realty Capital
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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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