Analysts predict that Spirit Realty Capital, Inc (NYSE:SRC) will post sales of $163.72 million for the current quarter, Zacks reports. Five analysts have made estimates for Spirit Realty Capital’s earnings. The highest sales estimate is $166.31 million and the lowest is $159.77 million. Spirit Realty Capital posted sales of $173.38 million during the same quarter last year, which suggests a negative year-over-year growth rate of 5.6%. The business is scheduled to announce its next quarterly earnings report before the market opens on Thursday, February 22nd.
According to Zacks, analysts expect that Spirit Realty Capital will report full year sales of $163.72 million for the current year, with estimates ranging from $652.41 million to $669.92 million. For the next year, analysts forecast that the firm will report 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 a mean average based on a survey of analysts that that provide coverage for Spirit Realty Capital.
A number of analysts have recently issued reports on the stock. ValuEngine lowered shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of Spirit Realty Capital in a research note on Monday, November 13th. Deutsche Bank reiterated a “buy” rating and set a $11.00 price objective on shares of Spirit Realty Capital in a research note on Friday, October 20th. FBR & Co reiterated a “buy” rating on shares of Spirit Realty Capital in a research note on Friday, October 20th. Finally, Mizuho set a $9.00 price objective on shares of Spirit Realty Capital and gave the company a “buy” rating in a research note on Sunday, October 22nd. Eleven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $9.50.
The business also recently declared a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Friday, December 29th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 9.70%. The ex-dividend date of this dividend was Thursday, December 28th. Spirit Realty Capital’s payout ratio is currently 800.00%.
Hedge funds have recently added to or reduced their stakes in the company. Profund Advisors LLC boosted its holdings in Spirit Realty Capital by 26.0% in the second quarter. Profund Advisors LLC now owns 23,932 shares of the real estate investment trust’s stock worth $177,000 after purchasing an additional 4,938 shares during the period. California Public Employees Retirement System boosted its holdings in Spirit Realty Capital by 3.2% in the second quarter. California Public Employees Retirement System now owns 990,446 shares of the real estate investment trust’s stock worth $7,339,000 after purchasing an additional 30,500 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in Spirit Realty Capital by 126.4% in the second quarter. Parametric Portfolio Associates LLC now owns 853,086 shares of the real estate investment trust’s stock worth $6,321,000 after purchasing an additional 476,326 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Spirit Realty Capital by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 6,932,215 shares of the real estate investment trust’s stock worth $51,368,000 after purchasing an additional 351,979 shares during the period. Finally, Tudor Investment Corp ET AL acquired a new position in Spirit Realty Capital in the second quarter worth $434,000. 92.65% of the stock is owned by institutional investors and hedge funds.
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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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