Zacks: Analysts Anticipate Spirit Realty Capital, Inc (SRC) Will Post Quarterly Sales of $163.72 Million
Wall Street analysts forecast that Spirit Realty Capital, Inc (NYSE:SRC) will report sales of $163.72 million for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Spirit Realty Capital’s earnings. The lowest sales estimate is $159.77 million and the highest is $166.31 million. Spirit Realty Capital reported sales of $173.38 million during the same quarter last year, which indicates a negative year-over-year growth rate of 5.6%. The firm is expected to report its next earnings results on Wednesday, February 28th.
On average, analysts expect that Spirit Realty Capital will report full-year sales of $163.72 million for the current fiscal year, with estimates ranging from $652.41 million to $669.92 million. For the next financial year, analysts forecast that the firm will post sales of $650.98 million per share, with estimates ranging from $625.77 million to $668.62 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Spirit Realty Capital.
SRC has been the topic of several research analyst reports. Zacks Investment Research raised Spirit Realty Capital from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a research report on Thursday, October 12th. Mizuho reaffirmed a “buy” rating and set a $9.50 price target on shares of Spirit Realty Capital in a research report on Thursday, December 21st. B. Riley set a $9.00 price target on Spirit Realty Capital and gave the stock a “buy” rating in a research report on Tuesday, November 14th. SunTrust Banks reaffirmed a “hold” rating and set a $8.50 price target on shares of Spirit Realty Capital in a research report on Friday, November 3rd. Finally, Robert W. Baird lowered Spirit Realty Capital from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $10.00 to $9.00 in a research report on Friday, November 10th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $9.51.
Spirit Realty Capital (NYSE SRC) opened at $8.18 on Friday. The company has a market capitalization of $3,720.00, a P/E ratio of 90.89 and a beta of 0.17. Spirit Realty Capital has a 12-month low of $6.64 and a 12-month high of $11.28. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.59 and a current ratio of 0.59.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be paid a $0.18 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.72 annualized dividend and a dividend yield of 8.80%. Spirit Realty Capital’s dividend payout ratio (DPR) is currently 800.00%.
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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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