Spirit Realty Capital Now Covered by Analysts at Morgan Stanley (SRC)
Analysts at Morgan Stanley started coverage on shares of Spirit Realty Capital (NYSE:SRC) in a research report issued to clients and investors on Tuesday, Stock Ratings Network reports. The firm set an “overweight” rating and a $11.00 price target on the stock. Morgan Stanley’s price target would suggest a potential upside of 19.83% from the company’s current price.
The analysts wrote, “Spirit Realty is well positioned to deliver strong FFO growth through higher than anticipated acquisition volume, and its steep discount to peers is unwarranted in our view. Post its merger with Cole II, the company has a quality portfolio, reduced tenant concentration and an attractive 7% yield.”
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital reiterated an “outperform” rating on shares of Spirit Realty Capital in a research note to investors on Monday, September 23rd. They now have a $9.48 price target on the stock. Finally, analysts at Thomson Reuters/Verus initiated coverage on shares of Spirit Realty Capital in a research note to investors on Monday, August 5th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $15.75.
Shares of Spirit Realty Capital (NYSE:SRC) traded down 0.16% during mid-day trading on Tuesday, hitting $9.165. 1,426,179 shares of the company’s stock traded hands. Spirit Realty Capital has a one year low of $8.1111 and a one year high of $12.1063. The stock has a 50-day moving average of $9.01 and a 200-day moving average of $9.90. The company’s market cap is $767.6 million.
Spirit Realty Capital (NYSE:SRC) last released its earnings data on Thursday, August 8th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.06. The company had revenue of $72.80 million for the quarter, compared to the consensus estimate of $72.54 million.
The company also recently announced a special dividend, which is scheduled for Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.00 per share. The ex-dividend date is Thursday, September 26th.
Spirit Realty Capital, Inc is a self-administered and self-managed real estate investment trust (NYSE:SRC).
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