Spirit Realty Capital, Inc. (NYSE:SRC) Holdings Lifted by Ffcm LLC

Ffcm LLC raised its holdings in shares of Spirit Realty Capital, Inc. (NYSE:SRC) by 191.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,167 shares of the real estate investment trust’s stock after purchasing an additional 13,914 shares during the period. Ffcm LLC’s holdings in Spirit Realty Capital were worth $161,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Prudential Financial Inc. boosted its holdings in shares of Spirit Realty Capital by 3,886.7% during the first quarter. Prudential Financial Inc. now owns 7,934,149 shares of the real estate investment trust’s stock valued at $80,373,000 after acquiring an additional 7,735,135 shares during the period. Lasalle Investment Management Securities LLC boosted its holdings in shares of Spirit Realty Capital by 52.2% during the second quarter. Lasalle Investment Management Securities LLC now owns 22,481,416 shares of the real estate investment trust’s stock valued at $166,587,000 after acquiring an additional 7,707,615 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of Spirit Realty Capital by 177.9% during the first quarter. Nuveen Asset Management LLC now owns 5,056,051 shares of the real estate investment trust’s stock valued at $51,218,000 after acquiring an additional 3,236,793 shares during the period. Weiss Multi Strategy Advisers LLC acquired a new position in shares of Spirit Realty Capital during the first quarter valued at $25,325,000. Finally, KRV Capital LP acquired a new position in shares of Spirit Realty Capital during the first quarter valued at $24,059,000. Hedge funds and other institutional investors own 94.38% of the company’s stock.

Shares of Spirit Realty Capital, Inc. (NYSE:SRC) traded up 0.523% during trading on Thursday, hitting $8.655. The stock had a trading volume of 1,043,138 shares. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of 65.568 and a beta of 0.53. The firm has a 50 day moving average of $8.38 and a 200 day moving average of $8.64. Spirit Realty Capital, Inc. has a 1-year low of $6.64 and a 1-year high of $13.86.

Spirit Realty Capital (NYSE:SRC) last issued its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. Spirit Realty Capital had a return on equity of 1.74% and a net margin of 9.47%. The firm had revenue of $168.65 million for the quarter, compared to analysts’ expectations of $163.19 million. During the same quarter last year, the business earned $0.22 earnings per share. The company’s revenue was down 1.8% compared to the same quarter last year. Analysts expect that Spirit Realty Capital, Inc. will post $0.21 EPS for the current fiscal year.

Spirit Realty Capital announced that its Board of Directors has initiated a share buyback plan on Monday, August 14th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to buy up to 6.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Several equities analysts have recently issued reports on SRC shares. BidaskClub raised shares of Spirit Realty Capital from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Bank of America Corporation raised shares of Spirit Realty Capital from an “underperform” rating to a “buy” rating and upped their price target for the company from $6.50 to $9.75 in a report on Wednesday, August 16th. Mizuho raised shares of Spirit Realty Capital from a “neutral” rating to a “buy” rating and upped their price target for the company from $7.50 to $9.00 in a report on Thursday, August 31st. Ladenburg Thalmann Financial Services reissued a “hold” rating on shares of Spirit Realty Capital in a report on Friday, August 4th. Finally, ValuEngine downgraded shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $9.92.

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In other Spirit Realty Capital news, Director Todd A. Dunn purchased 14,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were bought at an average price of $8.49 per share, with a total value of $118,860.00. Following the completion of the transaction, the director now directly owns 64,560 shares in the company, valued at approximately $548,114.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Phillip D. Joseph, Jr. purchased 3,636 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were acquired at an average cost of $8.25 per share, for a total transaction of $29,997.00. Following the transaction, the chief financial officer now owns 138,504 shares of the company’s stock, valued at $1,142,658. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 24,697 shares of company stock worth $207,130. 0.50% of the stock is currently owned by insiders.

Spirit Realty Capital Profile

Spirit Realty Capital, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company’s operations are carried out through Spirit Realty, L.P. (the Operating Partnership). The Company invests in single-tenant, operationally essential real estate throughout the United States that is leased on a long-term, triple-net basis primarily to tenants engaged in retail, service and distribution industries.

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

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