Parametric Portfolio Associates LLC Acquires 70,111 Shares of Spirit Realty Capital Inc (NYSE:SRC)

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Parametric Portfolio Associates LLC boosted its holdings in Spirit Realty Capital Inc (NYSE:SRC) by 25.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 347,178 shares of the real estate investment trust’s stock after acquiring an additional 70,111 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Spirit Realty Capital were worth $16,616,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in SRC. Nwam LLC increased its position in shares of Spirit Realty Capital by 2.8% in the third quarter. Nwam LLC now owns 11,846 shares of the real estate investment trust’s stock worth $567,000 after purchasing an additional 326 shares during the last quarter. Pacer Advisors Inc. grew its stake in Spirit Realty Capital by 18.9% in the 2nd quarter. Pacer Advisors Inc. now owns 2,305 shares of the real estate investment trust’s stock worth $98,000 after buying an additional 366 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Spirit Realty Capital by 0.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 53,380 shares of the real estate investment trust’s stock worth $2,555,000 after buying an additional 395 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Spirit Realty Capital by 2.1% in the 2nd quarter. Van ECK Associates Corp now owns 20,045 shares of the real estate investment trust’s stock worth $855,000 after buying an additional 412 shares during the last quarter. Finally, United Services Automobile Association increased its holdings in shares of Spirit Realty Capital by 2.0% in the 2nd quarter. United Services Automobile Association now owns 22,562 shares of the real estate investment trust’s stock worth $962,000 after buying an additional 434 shares during the last quarter. 92.31% of the stock is currently owned by hedge funds and other institutional investors.

SRC has been the topic of several research reports. Zacks Investment Research upgraded shares of Spirit Realty Capital from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Wednesday. Capital One Financial upgraded shares of Spirit Realty Capital from an “equal weight” rating to an “overweight” rating and set a $56.00 target price for the company in a research report on Tuesday, December 3rd. Morgan Stanley increased their target price on Spirit Realty Capital from $49.00 to $51.00 and gave the company an “overweight” rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. increased their target price on Spirit Realty Capital from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Deutsche Bank raised their price target on Spirit Realty Capital from $50.00 to $52.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $52.86.

NYSE:SRC opened at $52.52 on Friday. The business has a 50 day moving average of $50.29 and a 200 day moving average of $46.64. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 13.89 and a beta of 0.38. Spirit Realty Capital Inc has a 1-year low of $33.86 and a 1-year high of $53.10. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.89 and a quick ratio of 2.89.

Spirit Realty Capital (NYSE:SRC) last issued its earnings results on Tuesday, November 5th. The real estate investment trust reported $0.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.65. Spirit Realty Capital had a return on equity of 8.03% and a net margin of 42.82%. The business had revenue of $167.00 million during the quarter, compared to analyst estimates of $113.15 million. During the same quarter in the prior year, the firm earned $0.16 earnings per share. Spirit Realty Capital’s revenue for the quarter was up 52.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Spirit Realty Capital Inc will post 3.16 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend is Monday, December 30th. Spirit Realty Capital’s dividend payout ratio (DPR) is presently 66.14%.

Spirit Realty Capital Profile

Spirit Realty Capital, Inc (NYSE: SRC) is a premier net-lease REIT that primarily invests in high-quality, operationally essential real estate, subject to long-term, net leases. Over the past decade, Spirit has become an industry leader and owner of income-producing, strategically located retail, industrial, office and data center properties.

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Institutional Ownership by Quarter for Spirit Realty Capital (NYSE:SRC)

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