Wall Street brokerages expect that Spirit Realty Capital, Inc. (NYSE:SRC) will post $0.20 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Spirit Realty Capital’s earnings. The lowest EPS estimate is $0.18 and the highest is $0.21. Spirit Realty Capital reported earnings of $0.22 per share in the same quarter last year, which would suggest a negative year over year growth rate of 9.1%. The firm is expected to report its next earnings report after the market closes on Thursday, August 3rd.

On average, analysts expect that Spirit Realty Capital will report full-year earnings of $0.80 per share for the current year, with EPS estimates ranging from $0.76 to $0.84. For the next financial year, analysts forecast that the business will post earnings of $0.80 per share, with EPS estimates ranging from $0.72 to $0.83. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Spirit Realty Capital.

Spirit Realty Capital (NYSE:SRC) last posted 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. Spirit Realty Capital had a return on equity of 2.10% and a net margin of 13.28%. The firm had revenue of $163.19 million during the quarter, compared to analyst estimates of $169.84 million.

SRC has been the subject of a number of research analyst reports. Morgan Stanley cut shares of Spirit Realty Capital from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $11.50 to $8.40 in a report on Tuesday, May 9th. Ladenburg Thalmann Financial Services cut shares of Spirit Realty Capital from a “buy” rating to a “neutral” rating in a report on Thursday, May 4th. Janney Montgomery Scott cut shares of Spirit Realty Capital from a “buy” rating to a “neutral” rating in a report on Thursday, May 4th. ValuEngine cut shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Mizuho raised shares of Spirit Realty Capital from an “underperform” rating to a “neutral” rating and set a $7.50 target price for the company in a report on Monday, July 10th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $11.53.

Spirit Realty Capital (SRC) traded up 1.16% during midday trading on Thursday, reaching $7.88. The company had a trading volume of 3,449,432 shares. The stock has a market capitalization of $3.81 billion, a PE ratio of 43.78 and a beta of 0.53. Spirit Realty Capital has a 1-year low of $6.64 and a 1-year high of $13.97. The firm’s 50 day moving average is $7.54 and its 200 day moving average is $9.31.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were paid a dividend of $0.18 per share. The ex-dividend date was Wednesday, June 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 9.24%. Spirit Realty Capital’s dividend payout ratio (DPR) is 378.97%.

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In other news, insider Jackson Hsieh bought 13,700 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The shares were purchased at an average price of $7.27 per share, for a total transaction of $99,599.00. Following the completion of the transaction, the insider now owns 546,053 shares in the company, valued at $3,969,805.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Phillip D. Joseph, Jr. bought 6,700 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were purchased at an average price of $7.47 per share, for a total transaction of $50,049.00. Following the transaction, the chief financial officer now owns 134,868 shares of the company’s stock, valued at approximately $1,007,463.96. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 43,800 shares of company stock worth $321,378. 0.50% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Prudential Financial Inc. raised its stake in shares of Spirit Realty Capital by 3,886.7% in the first quarter. Prudential Financial Inc. now owns 7,934,149 shares of the real estate investment trust’s stock worth $80,373,000 after buying an additional 7,735,135 shares during the period. Norges Bank purchased a new stake in shares of Spirit Realty Capital during the fourth quarter worth about $41,964,000. Nuveen Asset Management LLC raised its stake in shares of Spirit Realty Capital by 177.9% in the first quarter. Nuveen Asset Management LLC now owns 5,056,051 shares of the real estate investment trust’s stock worth $51,218,000 after buying an additional 3,236,793 shares during the period. Weiss Multi Strategy Advisers LLC purchased a new stake in shares of Spirit Realty Capital during the first quarter worth about $25,325,000. Finally, KRV Capital LP purchased a new stake in shares of Spirit Realty Capital during the first quarter worth about $24,059,000. Hedge funds and other institutional investors own 99.68% 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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Earnings History and Estimates for Spirit Realty Capital (NYSE:SRC)

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