Spirit Realty Capital, Inc. (NYSE:SRC) declared a quarterly dividend on Friday, June 16th, Wall Street Journal reports. Stockholders of record on Friday, June 30th will be paid a dividend of 0.18 per share by the real estate investment trust on Friday, July 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 9.29%. The ex-dividend date of this dividend is Wednesday, June 28th.

Spirit Realty Capital has decreased its dividend payment by an average of 15.2% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Spirit Realty Capital has a payout ratio of 90.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Spirit Realty Capital to earn $0.81 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 88.9%.

Shares of Spirit Realty Capital (NYSE:SRC) traded up 0.065% during trading on Friday, hitting $7.755. The stock had a trading volume of 4,529,573 shares. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 43.083 and a beta of 0.54. Spirit Realty Capital has a 52 week low of $6.64 and a 52 week high of $13.97. The company’s 50 day moving average price is $7.65 and its 200 day moving average price is $9.84.

Spirit Realty Capital (NYSE:SRC) last posted its quarterly earnings data on Wednesday, May 3rd. The real estate investment trust reported $0.20 EPS for the quarter, missing the consensus estimate of $0.22 by $0.02. Spirit Realty Capital had a net margin of 13.28% and a return on equity of 2.10%. The firm had revenue of $163.19 million during the quarter, compared to analysts’ expectations of $169.84 million. Analysts predict that Spirit Realty Capital will post $0.23 earnings per share for the current year.

Dividend History for Spirit Realty Capital (NYSE:SRC)

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In other news, CFO Phillip D. Joseph, Jr. bought 6,700 shares of Spirit Realty Capital stock in a transaction that occurred on Friday, June 2nd. The shares were acquired at an average price of $7.47 per share, with a total value of $50,049.00. Following the completion of the purchase, the chief financial officer now directly owns 134,868 shares in the company, valued at $1,007,463.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jackson Hsieh bought 13,400 shares of Spirit Realty Capital stock in a transaction that occurred on Monday, June 5th. The stock was purchased at an average cost of $7.45 per share, for a total transaction of $99,830.00. Following the purchase, the insider now owns 559,453 shares of the company’s stock, valued at $4,167,924.85. The disclosure for this purchase can be found here. In the last three months, insiders purchased 43,800 shares of company stock worth $321,378. 0.50% of the stock is owned by insiders.

Several equities analysts recently commented on SRC shares. Zacks Investment Research upgraded Spirit Realty Capital from a “sell” rating to a “hold” rating in a research note on Friday, March 3rd. TheStreet downgraded Spirit Realty Capital from a “b-” rating to a “c+” rating in a research report on Wednesday, March 15th. Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Spirit Realty Capital in a research report on Tuesday, March 21st. J P Morgan Chase & Co downgraded Spirit Realty Capital from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $13.00 to $9.00 in a research report on Thursday, May 4th. Finally, Janney Montgomery Scott downgraded Spirit Realty Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, May 4th. Five research analysts have rated the stock with a sell rating, six have assigned 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 $12.04.

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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