Highbridge Capital Management LLC boosted its stake in Spirit Realty Capital, Inc. (NYSE:SRC) by 234.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 312,000 shares of the real estate investment trust’s stock after buying an additional 218,700 shares during the period. Highbridge Capital Management LLC owned about 0.06% of Spirit Realty Capital worth $3,161,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. Janney Montgomery Scott LLC acquired a new position in Spirit Realty Capital during the first quarter worth $109,000. Penserra Capital Management LLC raised its position in Spirit Realty Capital by 51.5% in the first quarter. Penserra Capital Management LLC now owns 11,730 shares of the real estate investment trust’s stock valued at $118,000 after buying an additional 3,986 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Spirit Realty Capital by 24.0% in the first quarter. PNC Financial Services Group Inc. now owns 11,684 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 2,265 shares in the last quarter. Toronto Dominion Bank bought a new stake in Spirit Realty Capital during the first quarter worth about $141,000. Finally, Paragon Capital Management Ltd bought a new stake in Spirit Realty Capital during the first quarter worth about $154,000. Institutional investors own 99.64% of the company’s stock.
Shares of Spirit Realty Capital, Inc. (NYSE SRC) traded up 1.22% during trading on Wednesday, reaching $7.48. The company had a trading volume of 742,074 shares. The company has a market cap of $3.62 billion, a P/E ratio of 41.56 and a beta of 0.53. Spirit Realty Capital, Inc. has a 12-month low of $6.64 and a 12-month high of $13.97. The firm has a 50-day moving average of $7.44 and a 200-day moving average of $9.61.
Spirit Realty Capital (NYSE:SRC) last issued its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by $0.02. The company had revenue of $163.19 million during the quarter, compared to analyst estimates of $169.84 million. Spirit Realty Capital had a net margin of 13.28% and a return on equity of 2.10%. On average, equities research analysts anticipate that Spirit Realty Capital, Inc. will post $0.23 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 9.74%. The ex-dividend date of this dividend is Wednesday, June 28th. Spirit Realty Capital’s dividend payout ratio is currently 378.97%.
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A number of equities research analysts have issued reports on SRC shares. J P Morgan Chase & Co lowered Spirit Realty Capital from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $13.00 to $9.00 in a research report on Thursday, May 4th. Capital One Financial Corporation downgraded Spirit Realty Capital from an “equal weight” rating to an “underweight” rating in a research note on Thursday, May 4th. Ladenburg Thalmann Financial Services cut Spirit Realty Capital from a “buy” rating to a “neutral” rating in a report on Thursday, May 4th. Deutsche Bank AG reaffirmed a “buy” rating and set a $10.00 price objective (down from $14.00) on shares of Spirit Realty Capital in a report on Friday, May 5th. Finally, BidaskClub raised Spirit Realty Capital from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $11.76.
In related news, CFO Phillip D. Joseph, Jr. acquired 6,700 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The shares were acquired at an average cost of $7.47 per share, with a total value of $50,049.00. Following the transaction, the chief financial officer now owns 134,868 shares of the company’s stock, valued at approximately $1,007,463.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jackson Hsieh purchased 13,400 shares of the business’s stock in a transaction on Monday, June 5th. The shares were acquired at an average cost of $7.45 per share, for a total transaction of $99,830.00. Following the completion of the transaction, the insider now directly owns 559,453 shares in the company, valued at $4,167,924.85. The disclosure for this purchase can be found here. Insiders have acquired a total of 43,800 shares of company stock valued at $321,378 in the last ninety days. Company insiders own 0.50% of the company’s stock.
About Spirit Realty Capital
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.
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