Spirit Realty Capital, Inc. (SRC) Receives “Hold” Rating from Ladenburg Thalmann Financial Services

Ladenburg Thalmann Financial Services restated their hold rating on shares of Spirit Realty Capital, Inc. (NYSE:SRC) in a research note issued to investors on Monday morning.

SRC has been the subject of several other research reports. Royal Bank Of Canada lifted their price objective on Spirit Realty Capital from $8.00 to $9.00 and gave the stock a sector perform rating in a report on Friday, August 4th. ValuEngine lowered Spirit Realty Capital from a buy rating to a hold rating in a report on Friday, September 1st. BidaskClub raised Spirit Realty Capital from a hold rating to a buy rating in a report on Monday, July 31st. Mizuho raised Spirit Realty Capital from a neutral rating to a buy rating and lifted their price objective for the stock from $7.50 to $9.00 in a report on Thursday, August 31st. Finally, Zacks Investment Research raised Spirit Realty Capital from a sell rating to a hold rating in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $9.47.

Shares of Spirit Realty Capital (NYSE:SRC) traded up $0.06 on Monday, hitting $8.53. The company had a trading volume of 4,241,400 shares, compared to its average volume of 10,435,232. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.19. Spirit Realty Capital has a one year low of $6.64 and a one year high of $11.29. The company has a market capitalization of $3,890.00, a price-to-earnings ratio of 9.96 and a beta of 0.16.

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Spirit Realty Capital announced that its board has initiated a stock buyback plan on Monday, August 14th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the real estate investment trust to buy up to 6.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

A number of large investors have recently added to or reduced their stakes in the business. Lasalle Investment Management Securities LLC grew its holdings in 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 purchasing an additional 7,707,615 shares during the period. Principal Financial Group Inc. lifted its position in shares of Spirit Realty Capital by 4.5% in the second quarter. Principal Financial Group Inc. now owns 16,684,319 shares of the real estate investment trust’s stock valued at $123,630,000 after acquiring an additional 715,603 shares in the last quarter. Long Pond Capital LP lifted its position in shares of Spirit Realty Capital by 101.0% in the third quarter. Long Pond Capital LP now owns 14,989,473 shares of the real estate investment trust’s stock valued at $128,460,000 after acquiring an additional 7,530,599 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of Spirit Realty Capital by 55.5% in the second quarter. Prudential Financial Inc. now owns 12,337,803 shares of the real estate investment trust’s stock valued at $91,423,000 after acquiring an additional 4,403,654 shares in the last quarter. Finally, Monarch Alternative Capital LP lifted its position in shares of Spirit Realty Capital by 19.2% in the third quarter. Monarch Alternative Capital LP now owns 11,730,897 shares of the real estate investment trust’s stock valued at $100,534,000 after acquiring an additional 1,891,100 shares in the last quarter. 92.86% of the stock is owned by institutional investors and hedge funds.

Spirit Realty Capital Company 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.

Analyst Recommendations for Spirit Realty Capital (NYSE:SRC)

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