Zacks Investment Research upgraded shares of Spirit Realty Capital (NYSE:SRC) from a strong sell rating to a hold rating in a research note issued to investors on Thursday.
According to Zacks, “Spirit Realty Capital, Inc. is a real estate investment trust. It acquires single tenant, operationally essential real estate where the tenants conduct retail, service or distribution activities. The Company has investments throughout the United States. Its portfolio of properties is leased to tenants operating in different industries which includes restaurants; general, specialty and discount retailers; movie theatres; education facilities; health, fitness and recreational facilities; automotive dealers, parts and service facilities; and supermarkets. Spirit Realty Capital, Inc. is based in Scottsdale, Arizona. “
A number of other research firms have also recently commented on SRC. B. Riley set a $9.00 target price on shares of Spirit Realty Capital and gave the stock a buy rating in a research note on Tuesday, January 16th. Mizuho reissued a buy rating and set a $9.50 price target on shares of Spirit Realty Capital in a research report on Thursday, December 21st. Capital One Financial raised shares of Spirit Realty Capital from an underweight rating to an equal weight rating in a research report on Wednesday. SunTrust Banks reissued a hold rating and set a $8.50 price target on shares of Spirit Realty Capital in a research report on Friday, November 3rd. Finally, Robert W. Baird lowered shares of Spirit Realty Capital from an outperform rating to a neutral rating and reduced their price target for the stock from $10.00 to $9.00 in a research report on Friday, November 10th. Eleven research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $9.51.
Spirit Realty Capital (NYSE:SRC) last released its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.18). Spirit Realty Capital had a return on equity of 1.36% and a net margin of 6.25%. analysts anticipate that Spirit Realty Capital will post 0.83 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Friday, December 29th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 8.54%. The ex-dividend date was Thursday, December 28th. Spirit Realty Capital’s dividend payout ratio is presently 800.00%.
Large investors have recently bought and sold shares of the company. Arete Wealth Advisors LLC increased its holdings in shares of Spirit Realty Capital by 12.5% during the 2nd quarter. Arete Wealth Advisors LLC now owns 16,583 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 1,838 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Spirit Realty Capital by 122.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 18,571 shares of the real estate investment trust’s stock valued at $159,000 after purchasing an additional 10,241 shares in the last quarter. Profund Advisors LLC increased its holdings in shares of Spirit Realty Capital by 26.0% during the 2nd quarter. Profund Advisors LLC now owns 23,932 shares of the real estate investment trust’s stock valued at $177,000 after purchasing an additional 4,938 shares in the last quarter. Lourd Capital LLC purchased a new position in shares of Spirit Realty Capital during the 4th quarter valued at approximately $206,000. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of Spirit Realty Capital by 45.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 38,527 shares of the real estate investment trust’s stock valued at $285,000 after purchasing an additional 12,070 shares in the last quarter. 92.56% of the stock is owned by hedge funds and other institutional investors.
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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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