Spirit Realty Capital, Inc. (NYSE:SRC)‘s stock had its “buy” rating restated by Deutsche Bank AG in a research note issued to investors on Friday. They presently have a $11.00 price objective on the real estate investment trust’s stock. Deutsche Bank AG’s price objective would suggest a potential upside of 36.14% from the stock’s current price.

Several other research firms have also commented on SRC. ValuEngine lowered shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research lowered shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a research report on Wednesday. BidaskClub upgraded shares of Spirit Realty Capital from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 17th. Bank of America Corporation upgraded shares of Spirit Realty Capital from an “underperform” rating to a “buy” rating and raised their price target for the company from $6.50 to $9.75 in a research report on Wednesday, August 16th. Finally, Mizuho upgraded shares of Spirit Realty Capital from a “neutral” rating to a “buy” rating and raised their price target for the company from $7.50 to $9.00 in a research report on Thursday, August 31st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $9.70.

Spirit Realty Capital (SRC) traded down 2.30% on Friday, hitting $8.08. 20,784,277 shares of the company were exchanged. Spirit Realty Capital has a 52 week low of $6.64 and a 52 week high of $12.66. The company has a market capitalization of $3.70 billion, a P/E ratio of 61.21 and a beta of 0.53. The firm’s 50 day moving average is $8.57 and its 200 day moving average is $8.32.

Spirit Realty Capital (NYSE:SRC) last released its quarterly earnings results 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. The company had revenue of $168.65 million for the quarter, compared to analyst estimates of $163.19 million. Spirit Realty Capital had a net margin of 9.47% and a return on equity of 1.74%. The firm’s revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the business earned $0.22 earnings per share. On average, equities research analysts forecast that Spirit Realty Capital will post $0.21 earnings per share for the current fiscal year.

Spirit Realty Capital declared that its board has authorized a stock buyback program on Monday, August 14th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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In other Spirit Realty Capital news, Director Todd A. Dunn purchased 14,000 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were purchased at an average cost of $8.49 per share, with a total value of $118,860.00. Following the completion of the purchase, the director now owns 64,560 shares in the company, valued at approximately $548,114.40. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Phillip D. Joseph, Jr. purchased 3,636 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was acquired at an average cost of $8.25 per share, for a total transaction of $29,997.00. Following the completion of the purchase, the chief financial officer now owns 138,504 shares of the company’s stock, valued at approximately $1,142,658. The disclosure for this purchase can be found here. Over the last three months, insiders bought 24,697 shares of company stock worth $207,130. Insiders own 0.50% of the company’s stock.

Large investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board lifted its stake in shares of Spirit Realty Capital by 104.6% in the second quarter. Canada Pension Plan Investment Board now owns 165,900 shares of the real estate investment trust’s stock worth $1,229,000 after buying an additional 84,800 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of Spirit Realty Capital by 49.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 591,951 shares of the real estate investment trust’s stock worth $4,386,000 after buying an additional 196,710 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Spirit Realty Capital in the first quarter worth about $221,000. Lasalle Investment Management Securities LLC lifted its stake in shares of Spirit Realty Capital by 52.2% in the second quarter. Lasalle Investment Management Securities LLC now owns 22,481,416 shares of the real estate investment trust’s stock worth $166,587,000 after buying an additional 7,707,615 shares in the last quarter. Finally, Goodwin Daniel L lifted its stake in shares of Spirit Realty Capital by 285.7% in the second quarter. Goodwin Daniel L now owns 67,503 shares of the real estate investment trust’s stock worth $500,000 after buying an additional 50,000 shares in the last quarter. 94.51% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Spirit Realty Capital (NYSE:SRC)

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