Spirit Realty Capital Inc. (SRC) Now Covered by Mizuho
Analysts at Mizuho started coverage on shares of Spirit Realty Capital Inc. (NYSE:SRC) in a research note issued to investors on Thursday, The Fly reports. The brokerage set a “buy” rating on the real estate investment trust’s stock.
Other analysts have also recently issued research reports about the stock. Janney Montgomery Scott started coverage on shares of Spirit Realty Capital in a research report on Wednesday, September 7th. They set a “buy” rating and a $14.50 price target on the stock. They noted that the move was a valuation call. Zacks Investment Research raised shares of Spirit Realty Capital from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Tuesday, August 9th. Wunderlich increased their price target on shares of Spirit Realty Capital from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, August 9th. BTIG Research started coverage on shares of Spirit Realty Capital in a research report on Thursday, August 25th. They set a “buy” rating and a $15.00 price target on the stock. Finally, Morgan Stanley raised shares of Spirit Realty Capital from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $11.00 to $15.00 in a research report on Wednesday, September 7th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Spirit Realty Capital has an average rating of “Buy” and an average price target of $13.05.
Spirit Realty Capital (NYSE:SRC) traded up 2.19% during mid-day trading on Thursday, reaching $12.62. 6,130,944 shares of the company’s stock traded hands. The stock’s 50 day moving average is $13.10 and its 200-day moving average is $12.43. Spirit Realty Capital has a 52 week low of $8.90 and a 52 week high of $13.97. The stock has a market capitalization of $6.05 billion, a PE ratio of 56.34 and a beta of 0.54.
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Spirit Realty Capital (NYSE:SRC) last issued its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.01. The business had revenue of $171.70 million for the quarter, compared to analysts’ expectations of $164.29 million. Spirit Realty Capital had a net margin of 15.36% and a return on equity of 2.91%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.22 earnings per share. On average, equities analysts anticipate that Spirit Realty Capital will post $0.87 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a $0.175 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.70 annualized dividend and a yield of 5.55%. Spirit Realty Capital’s dividend payout ratio is currently 304.36%.
In other Spirit Realty Capital news, CEO Thomas H. Nolan, Jr. sold 15,000 shares of the stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $13.23, for a total value of $198,450.00. Following the transaction, the chief executive officer now directly owns 858,186 shares in the company, valued at $11,353,800.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Strs Ohio raised its position in shares of Spirit Realty Capital by 6.7% in the second quarter. Strs Ohio now owns 690,557 shares of the real estate investment trust’s stock valued at $8,818,000 after buying an additional 43,397 shares in the last quarter. Capital Fund Management S.A. acquired a new position in shares of Spirit Realty Capital during the second quarter worth about $7,291,000. BlackRock Group LTD raised its position in shares of Spirit Realty Capital by 3.2% in the first quarter. BlackRock Group LTD now owns 2,945,023 shares of the real estate investment trust’s stock worth $33,131,000 after buying an additional 91,113 shares during the period. OMERS ADMINISTRATION Corp acquired a new position in shares of Spirit Realty Capital during the first quarter worth about $291,000. Finally, Utah Retirement Systems raised its position in shares of Spirit Realty Capital by 10.3% in the second quarter. Utah Retirement Systems now owns 97,700 shares of the real estate investment trust’s stock worth $1,247,000 after buying an additional 9,100 shares during the period. Institutional investors own 95.35% 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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