FORA Capital LLC bought a new position in shares of Spirit Realty Capital, Inc. (NYSE:SRC) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,147 shares of the real estate investment trust’s stock, valued at approximately $134,000.
Several other hedge funds also recently added to or reduced their stakes in SRC. Norges Bank purchased a new stake in shares of Spirit Realty Capital during the fourth quarter worth about $53,199,000. Brookfield Asset Management Inc. purchased a new stake in shares of Spirit Realty Capital during the first quarter worth about $41,774,000. BlackRock Inc. increased its stake in shares of Spirit Realty Capital by 6.6% during the first quarter. BlackRock Inc. now owns 15,837,534 shares of the real estate investment trust’s stock worth $673,095,000 after purchasing an additional 976,318 shares in the last quarter. V3 Capital Management L.P. purchased a new stake in shares of Spirit Realty Capital during the fourth quarter worth about $20,323,000. Finally, Koshinski Asset Management Inc. purchased a new stake in shares of Spirit Realty Capital during the fourth quarter worth about $182,000. 98.87% of the stock is owned by institutional investors and hedge funds.
NYSE:SRC opened at $49.55 on Thursday. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.87. The firm has a market cap of $5.70 billion, a price-to-earnings ratio of 176.96, a price-to-earnings-growth ratio of 3.67 and a beta of 1.29. The company has a 50-day moving average price of $48.16. Spirit Realty Capital, Inc. has a 1-year low of $29.40 and a 1-year high of $51.17.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 15th. Shareholders of record on Wednesday, June 30th were issued a $0.625 dividend. The ex-dividend date was Tuesday, June 29th. This represents a $2.50 annualized dividend and a yield of 5.05%. Spirit Realty Capital’s payout ratio is 84.75%.
In other Spirit Realty Capital news, EVP Jay Young sold 15,000 shares of the business’s stock in a transaction dated Friday, May 7th. The shares were sold at an average price of $47.00, for a total value of $705,000.00. Following the transaction, the executive vice president now directly owns 26,412 shares in the company, valued at approximately $1,241,364. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.56% of the company’s stock.
A number of analysts have recently commented on the stock. Raymond James boosted their target price on shares of Spirit Realty Capital from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, June 17th. Jefferies Financial Group set a $48.63 price target on shares of Spirit Realty Capital and gave the stock a “buy” rating in a research report on Friday, July 16th. Zacks Investment Research upgraded shares of Spirit Realty Capital from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Thursday. Mizuho boosted their price target on shares of Spirit Realty Capital from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, April 19th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Spirit Realty Capital from $48.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 22nd. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $46.78.
Spirit Realty Capital Profile
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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