Spirit Realty Capital, Inc. (NYSE:SRC) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other research firms also recently weighed in on SRC. J P Morgan Chase & Co downgraded shares of Spirit Realty Capital from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $13.00 to $9.00 in a research report on Thursday, May 4th. Capital One Financial Corporation downgraded shares of Spirit Realty Capital from an “equal weight” rating to an “underweight” rating in a research report on Thursday, May 4th. Ladenburg Thalmann Financial Services downgraded shares of Spirit Realty Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, May 4th. Deutsche Bank AG reiterated a “buy” rating and issued a $10.00 price target (down from $14.00) on shares of Spirit Realty Capital in a research report on Friday, May 5th. Finally, Zacks Investment Research downgraded shares of Spirit Realty Capital from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 17th. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $12.04.

Spirit Realty Capital (SRC) traded up 0.95% during midday trading on Friday, hitting $7.44. The stock had a trading volume of 7,785,744 shares. Spirit Realty Capital has a 1-year low of $6.64 and a 1-year high of $13.97. The company’s 50 day moving average is $7.44 and its 200 day moving average is $9.61. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 41.33 and a beta of 0.53.

Spirit Realty Capital (NYSE:SRC) last issued its quarterly earnings data on Wednesday, May 3rd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.02. The company had revenue of $163.19 million for the quarter, compared to analyst estimates of $169.84 million. Spirit Realty Capital had a return on equity of 2.10% and a net margin of 13.28%. On average, equities analysts anticipate that Spirit Realty Capital will post $0.23 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 30th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $0.72 annualized dividend and a yield of 9.68%. Spirit Realty Capital’s dividend payout ratio is currently 378.97%.

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In other news, EVP Boyd Messmann acquired 10,000 shares of the stock in a transaction on Wednesday, May 24th. The stock was acquired at an average cost of $7.19 per share, for a total transaction of $71,900.00. Following the completion of the transaction, the executive vice president now directly owns 73,656 shares in the company, valued at $529,586.64. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Phillip D. Joseph, Jr. acquired 6,700 shares of the stock in a transaction on Friday, June 2nd. The shares were purchased at an average price of $7.47 per share, with a total value of $50,049.00. Following the completion of the transaction, the chief financial officer now owns 134,868 shares of the company’s stock, valued at $1,007,463.96. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 43,800 shares of company stock valued at $321,378. Company insiders own 0.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC purchased a new position in shares of Spirit Realty Capital during the first quarter valued at approximately $109,000. PNC Financial Services Group Inc. increased its position in shares of Spirit Realty Capital by 24.0% in the first quarter. PNC Financial Services Group Inc. now owns 11,684 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 2,265 shares in the last quarter. Penserra Capital Management LLC increased its position in shares of Spirit Realty Capital by 51.5% in the first quarter. Penserra Capital Management LLC now owns 11,730 shares of the real estate investment trust’s stock valued at $118,000 after buying an additional 3,986 shares in the last quarter. Toronto Dominion Bank purchased a new position in shares of Spirit Realty Capital during the first quarter valued at approximately $141,000. Finally, Investment Centers of America Inc. increased its position in shares of Spirit Realty Capital by 2.6% in the first quarter. Investment Centers of America Inc. now owns 13,850 shares of the real estate investment trust’s stock valued at $141,000 after buying an additional 350 shares in the last quarter. Institutional investors and hedge funds own 99.95% of the company’s stock.

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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