Teachers Insurance & Annuity Association of America raised its position in shares of Spirit Realty Capital, Inc (NYSE:SRC) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 498,344 shares of the real estate investment trust’s stock after buying an additional 14,950 shares during the period. Teachers Insurance & Annuity Association of America owned about 0.11% of Spirit Realty Capital worth $4,276,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of SRC. Long Pond Capital LP increased its holdings in shares of Spirit Realty Capital by 101.0% in the third quarter. Long Pond Capital LP now owns 14,989,473 shares of the real estate investment trust’s stock valued at $128,460,000 after purchasing an additional 7,530,599 shares in the last quarter. Cbre Clarion Securities LLC increased its holdings in shares of Spirit Realty Capital by 150.6% in the fourth quarter. Cbre Clarion Securities LLC now owns 9,992,562 shares of the real estate investment trust’s stock valued at $85,736,000 after purchasing an additional 6,004,382 shares in the last quarter. Marathon Asset Management LP acquired a new stake in shares of Spirit Realty Capital in the third quarter valued at approximately $26,267,000. MD Sass Investors Services Inc. bought a new position in Spirit Realty Capital in the fourth quarter valued at approximately $23,694,000. Finally, Gruss Capital Management LP boosted its stake in Spirit Realty Capital by 56.1% in the third quarter. Gruss Capital Management LP now owns 7,375,000 shares of the real estate investment trust’s stock valued at $63,204,000 after acquiring an additional 2,650,000 shares during the last quarter. 92.01% of the stock is owned by institutional investors.
Shares of Spirit Realty Capital, Inc (SRC) opened at $8.00 on Monday. The company has a market cap of $3,590.68, a price-to-earnings ratio of 9.41 and a beta of 0.46. Spirit Realty Capital, Inc has a 52-week low of $6.64 and a 52-week high of $10.60. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.60 and a quick ratio of 0.60.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Friday, March 30th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.72 annualized dividend and a yield of 9.00%. Spirit Realty Capital’s payout ratio is currently 450.03%.
In other Spirit Realty Capital news, Director Thomas D. Senkbeil purchased 25,200 shares of the stock in a transaction on Tuesday, March 6th. The shares were purchased at an average cost of $7.93 per share, for a total transaction of $199,836.00. Following the purchase, the director now owns 67,052 shares of the company’s stock, valued at $531,722.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by insiders.
A number of brokerages have issued reports on SRC. Bank of America cut shares of Spirit Realty Capital from a “buy” rating to a “neutral” rating and set a $9.00 price objective on the stock. in a research note on Monday, February 26th. B. Riley reaffirmed a “buy” rating on shares of Spirit Realty Capital in a research note on Thursday, February 22nd. Zacks Investment Research raised shares of Spirit Realty Capital from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 25th. SunTrust Banks raised shares of Spirit Realty Capital from a “hold” rating to a “buy” rating in a research note on Monday, January 22nd. Finally, ValuEngine cut shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Twelve research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $9.44.
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Spirit Realty Capital 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.
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