Spirit Realty Capital (NYSE: SRC) has recently received a number of price target changes and ratings updates:

  • 10/22/2017 – Spirit Realty Capital was given a new $9.00 price target on by analysts at Mizuho. They now have a “buy” rating on the stock.
  • 10/20/2017 – Spirit Realty Capital had its “buy” rating reaffirmed by analysts at FBR & Co.
  • 10/20/2017 – Spirit Realty Capital had its “buy” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $11.00 price target on the stock.
  • 10/18/2017 – Spirit Realty Capital was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Spirit Realty Capital, Inc. is a real estate investment trust. It acquires single tenant, operationally essential real estate where the tenants conduct retail, service or distribution activities. The Company has investments throughout the United States. Its portfolio of properties is leased to tenants operating in different industries which includes restaurants; general, specialty and discount retailers; movie theatres; education facilities; health, fitness and recreational facilities; automotive dealers, parts and service facilities; and supermarkets. Spirit Realty Capital, Inc. is based in Scottsdale, Arizona. “
  • 10/12/2017 – Spirit Realty Capital was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $9.50 price target on the stock. According to Zacks, “Spirit Realty Capital, Inc. is a real estate investment trust. It acquires single tenant, operationally essential real estate where the tenants conduct retail, service or distribution activities. The Company has investments throughout the United States. Its portfolio of properties is leased to tenants operating in different industries which includes restaurants; general, specialty and discount retailers; movie theatres; education facilities; health, fitness and recreational facilities; automotive dealers, parts and service facilities; and supermarkets. Spirit Realty Capital, Inc. is based in Scottsdale, Arizona. “

Spirit Realty Capital (NYSE:SRC) last issued its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $163.19 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The firm’s revenue was down 1.8% compared to the same quarter last year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were given 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 dividend payout ratio (DPR) is currently 514.29%.

In other news, Director Todd A. Dunn acquired 14,000 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was bought at an average price of $8.49 per share, with a total value of $118,860.00. Following the transaction, the director now directly owns 64,560 shares in the company, valued at approximately $548,114.40. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Phillip D. Joseph, Jr. acquired 3,636 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was purchased at an average cost of $8.25 per share, with a total value of $29,997.00. Following the transaction, 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 three months, insiders bought 24,697 shares of company stock valued at $207,130. Insiders own 0.50% of the company’s stock.

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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