Virginia Retirement Systems ET AL boosted its position in Spirit Realty Capital Inc (NYSE:SRC) by 108.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 729,800 shares of the real estate investment trust’s stock after purchasing an additional 379,700 shares during the quarter. Virginia Retirement Systems ET AL owned approximately 0.17% of Spirit Realty Capital worth $5,882,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in SRC. First Hawaiian Bank bought a new position in Spirit Realty Capital in the third quarter worth about $106,000. Clear Harbor Asset Management LLC acquired a new position in shares of Spirit Realty Capital during the second quarter valued at about $108,000. Virtu Financial LLC acquired a new position in shares of Spirit Realty Capital during the second quarter valued at about $113,000. Trust Co. of Oklahoma acquired a new position in shares of Spirit Realty Capital during the second quarter valued at about $117,000. Finally, Rehmann Capital Advisory Group increased its holdings in shares of Spirit Realty Capital by 324.1% during the second quarter. Rehmann Capital Advisory Group now owns 15,387 shares of the real estate investment trust’s stock valued at $124,000 after acquiring an additional 11,759 shares in the last quarter. Institutional investors and hedge funds own 92.57% of the company’s stock.
Several equities analysts have recently issued reports on SRC shares. ValuEngine upgraded shares of Spirit Realty Capital from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. TheStreet upgraded shares of Spirit Realty Capital from a “c” rating to a “b-” rating in a report on Wednesday, August 8th. Zacks Investment Research upgraded shares of Spirit Realty Capital from a “sell” rating to a “hold” rating in a report on Saturday, August 11th. Finally, Bank of America upped their price objective on shares of Spirit Realty Capital from $8.00 to $8.25 and gave the company a “neutral” rating in a report on Monday, September 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Spirit Realty Capital currently has a consensus rating of “Hold” and a consensus target price of $8.79.
SRC opened at $8.19 on Friday. Spirit Realty Capital Inc has a 52-week low of $7.34 and a 52-week high of $8.84. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.53 and a current ratio of 0.53. The stock has a market cap of $3.51 billion, a PE ratio of 10.24 and a beta of 0.34.
Spirit Realty Capital (NYSE:SRC) last posted its quarterly earnings data on Monday, November 5th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.01. Spirit Realty Capital had a net margin of 20.95% and a return on equity of 4.16%. The firm had revenue of $109.64 million for the quarter, compared to the consensus estimate of $101.43 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. On average, analysts anticipate that Spirit Realty Capital Inc will post 0.73 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were given a $0.125 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.50 dividend on an annualized basis and a yield of 6.11%. Spirit Realty Capital’s dividend payout ratio is currently 58.82%.
Spirit Realty Capital Profile
Spirit Realty Capital, Inc (NYSE: SRC) is a premier net-lease REIT that primarily invests in high-quality, operationally essential real estate, subject to long-term, net leases. Over the past decade, Spirit has become an industry leader and owner of income-producing, strategically located retail, industrial, office and data center properties providing superior risk adjusted returns and steady dividend growth for our stockholders.
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