Spirit Realty Capital, Inc (SRC) Expected to Post Earnings of $0.22 Per Share

Equities research analysts forecast that Spirit Realty Capital, Inc (NYSE:SRC) will announce $0.22 earnings per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Spirit Realty Capital’s earnings, with the highest EPS estimate coming in at $0.22 and the lowest estimate coming in at $0.21. Spirit Realty Capital posted earnings of $0.21 per share in the same quarter last year, which would indicate a positive year over year growth rate of 4.8%. The firm is scheduled to issue its next earnings results on Wednesday, February 28th.

According to Zacks, analysts expect that Spirit Realty Capital will report full-year earnings of $0.82 per share for the current financial year, with EPS estimates ranging from $0.79 to $0.86. For the next year, analysts anticipate that the company will post earnings of $0.85 per share, with EPS estimates ranging from $0.83 to $0.87. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for Spirit Realty Capital.

Spirit Realty Capital (NYSE:SRC) last announced its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.02 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.18). Spirit Realty Capital had a net margin of 6.25% and a return on equity of 1.36%.

SRC has been the topic of several recent research reports. Zacks Investment Research upgraded Spirit Realty Capital from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a research report on Thursday, October 12th. B. Riley set a $9.00 price objective on Spirit Realty Capital and gave the company a “buy” rating in a research report on Tuesday, January 16th. Mizuho reiterated a “buy” rating and set a $9.50 price objective on shares of Spirit Realty Capital in a research report on Thursday, December 21st. SunTrust Banks reiterated a “hold” rating and set a $8.50 price objective 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 reduced their price objective for the company 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 issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $9.51.

A number of hedge funds have recently modified their holdings of SRC. Long Pond Capital LP lifted its holdings in Spirit Realty Capital by 101.0% in the 3rd quarter. Long Pond Capital LP now owns 14,989,473 shares of the real estate investment trust’s stock worth $128,460,000 after buying an additional 7,530,599 shares during the period. Monarch Alternative Capital LP lifted its holdings in Spirit Realty Capital by 19.2% in the 3rd quarter. Monarch Alternative Capital LP now owns 11,730,897 shares of the real estate investment trust’s stock worth $100,534,000 after buying an additional 1,891,100 shares during the period. State Street Corp lifted its holdings in Spirit Realty Capital by 2.4% in the 2nd quarter. State Street Corp now owns 9,684,420 shares of the real estate investment trust’s stock worth $71,759,000 after buying an additional 223,928 shares during the period. V3 Capital Management L.P. lifted its holdings in Spirit Realty Capital by 96.9% in the 2nd quarter. V3 Capital Management L.P. now owns 9,642,585 shares of the real estate investment trust’s stock worth $71,452,000 after buying an additional 4,745,800 shares during the period. Finally, Gruss Capital Management LP lifted its holdings in Spirit Realty Capital by 56.1% in the 3rd quarter. Gruss Capital Management LP now owns 7,375,000 shares of the real estate investment trust’s stock worth $63,204,000 after buying an additional 2,650,000 shares during the period. Institutional investors own 92.63% of the company’s stock.

Spirit Realty Capital (NYSE SRC) opened at $8.33 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $3,720.00, a PE ratio of 92.56 and a beta of 0.17. Spirit Realty Capital has a 1 year low of $6.64 and a 1 year high of $11.11.

The business also recently announced a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Friday, December 29th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 8.64%. The ex-dividend date of this dividend was Thursday, December 28th. Spirit Realty Capital’s dividend payout ratio is presently 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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