Spirit Realty Capital, Inc. (NYSE:SRC) has earned an average rating of “Hold” from the seventeen brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $9.68.

Several analysts recently issued reports on SRC shares. ValuEngine downgraded Spirit Realty Capital from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research raised Spirit Realty Capital from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a research note on Thursday, October 12th. FBR & Co reissued a “buy” rating on shares of Spirit Realty Capital in a research note on Friday, October 20th. Ladenburg Thalmann Financial Services reissued a “hold” rating on shares of Spirit Realty Capital in a research note on Friday, August 4th. Finally, Royal Bank Of Canada lifted their target price on Spirit Realty Capital from $8.00 to $9.00 and gave the company a “sector perform” rating in a research note on Friday, August 4th.

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In other news, Director Todd A. Dunn acquired 14,000 shares of Spirit Realty Capital stock in a transaction on Thursday, August 10th. The shares were acquired at an average price of $8.49 per share, with a total value of $118,860.00. Following the purchase, the director now directly owns 64,560 shares in the company, valued at approximately $548,114.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Phillip D. Joseph, Jr. acquired 6,061 shares of Spirit Realty Capital stock in a transaction on Tuesday, August 8th. The stock was purchased at an average cost of $8.25 per share, for a total transaction of $50,003.25. Following the purchase, the chief financial officer now owns 138,504 shares in the company, valued at $1,142,658. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 24,697 shares of company stock worth $207,130. Corporate insiders own 0.50% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in SRC. Lasalle Investment Management Securities LLC increased its position in shares of Spirit Realty Capital by 52.2% during the 2nd quarter. Lasalle Investment Management Securities LLC now owns 22,481,416 shares of the real estate investment trust’s stock valued at $166,587,000 after purchasing an additional 7,707,615 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Spirit Realty Capital by 4.5% during the 2nd quarter. Principal Financial Group Inc. now owns 16,684,319 shares of the real estate investment trust’s stock valued at $123,630,000 after purchasing an additional 715,603 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Spirit Realty Capital by 55.5% during the 2nd quarter. Prudential Financial Inc. now owns 12,337,803 shares of the real estate investment trust’s stock valued at $91,423,000 after purchasing an additional 4,403,654 shares during the last quarter. State Street Corp increased its position in shares of Spirit Realty Capital by 2.4% during the 2nd quarter. State Street Corp now owns 9,684,420 shares of the real estate investment trust’s stock valued at $71,759,000 after purchasing an additional 223,928 shares during the last quarter. Finally, V3 Capital Management L.P. increased its position in shares of Spirit Realty Capital by 96.9% during the 2nd quarter. V3 Capital Management L.P. now owns 9,642,585 shares of the real estate investment trust’s stock valued at $71,452,000 after purchasing an additional 4,745,800 shares during the last quarter. 94.72% of the stock is currently owned by institutional investors and hedge funds.

Spirit Realty Capital (NYSE:SRC) last issued its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.01. The company had revenue of $168.65 million for the quarter, compared to the consensus estimate of $163.19 million. Spirit Realty Capital had a return on equity of 1.74% and a net margin of 9.47%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the company earned $0.22 EPS.

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

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 8.66%. The ex-dividend date was Thursday, September 28th. Spirit Realty Capital’s payout ratio is 514.29%.

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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