Spirit Realty Capital, Inc. (SRC) Upgraded at Bank of America Corporation
Spirit Realty Capital, Inc. (NYSE:SRC) was upgraded by stock analysts at Bank of America Corporation from an “underperform” rating to a “buy” rating in a research report issued on Wednesday, The Fly reports.
A number of other brokerages also recently issued reports on SRC. UBS AG downgraded shares of Spirit Realty Capital from a “buy” rating to a “neutral” rating and dropped their price target for the company from $12.00 to $9.00 in a report on Thursday, May 4th. Zacks Investment Research downgraded shares of Spirit Realty Capital from a “hold” rating to a “sell” rating in a report on Tuesday. Royal Bank Of Canada raised their price target on shares of Spirit Realty Capital from $8.00 to $9.00 and gave the company a “sector perform” rating in a report on Friday, August 4th. FBR & Co raised their price target on shares of Spirit Realty Capital from $8.00 to $13.00 and gave the company an “outperform” rating in a report on Friday, May 5th. Finally, Ladenburg Thalmann Financial Services reaffirmed a “hold” rating on shares of Spirit Realty Capital in a report on Friday, August 4th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. Spirit Realty Capital has a consensus rating of “Hold” and an average target price of $10.67.
Shares of Spirit Realty Capital (NYSE:SRC) opened at 8.48 on Wednesday. The firm has a 50-day moving average of $7.85 and a 200 day moving average of $8.94. The company has a market cap of $3.89 billion, a price-to-earnings ratio of 64.24 and a beta of 0.55. Spirit Realty Capital has a 12 month low of $6.64 and a 12 month high of $13.95.
Spirit Realty Capital (NYSE:SRC) last announced its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. Spirit Realty Capital had a net margin of 9.47% and a return on equity of 1.74%. The company had revenue of $168.65 million for the quarter, compared to the consensus estimate of $163.19 million. During the same period in the prior year, the firm posted $0.22 EPS. Spirit Realty Capital’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, analysts expect that Spirit Realty Capital will post $0.22 earnings per share for the current year.
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In other Spirit Realty Capital news, CFO Phillip D. Joseph, Jr. acquired 3,636 shares of the stock in a transaction dated Monday, August 7th. The shares were purchased at an average price of $8.25 per share, for a total transaction of $29,997.00. Following the purchase, the chief financial officer now directly owns 138,504 shares of the company’s stock, valued at $1,142,658. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CFO Phillip D. Joseph, Jr. acquired 6,700 shares of the stock in a transaction dated Friday, June 2nd. The stock was acquired at an average price of $7.47 per share, for a total transaction of $50,049.00. Following the purchase, the chief financial officer now directly owns 134,868 shares in the company, valued at $1,007,463.96. The disclosure for this purchase can be found here. Insiders bought a total of 68,497 shares of company stock worth $528,508 in the last quarter. Company insiders own 0.50% of the company’s stock.
Institutional investors have recently modified their holdings of the company. New England Investment & Retirement Group Inc. acquired a new position in shares of Spirit Realty Capital during the second quarter valued at $100,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Spirit Realty Capital during the fourth quarter valued at $103,000. Tower Research Capital LLC TRC boosted its position in shares of Spirit Realty Capital by 2,571.3% in the third quarter. Tower Research Capital LLC TRC now owns 8,014 shares of the real estate investment trust’s stock valued at $107,000 after buying an additional 7,714 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of Spirit Realty Capital during the first quarter valued at $109,000. Finally, Vivaldi Capital Management LLC acquired a new position in shares of Spirit Realty Capital during the second quarter valued at $111,000.
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.
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