Spirit Realty Capital, Inc. (NYSE:SRC) Expected to Post Earnings of $0.87 Per Share

Brokerages expect that Spirit Realty Capital, Inc. (NYSE:SRCGet Rating) will announce earnings per share (EPS) of $0.87 for the current quarter, according to Zacks. Six analysts have made estimates for Spirit Realty Capital’s earnings, with the lowest EPS estimate coming in at $0.86 and the highest estimate coming in at $0.89. Spirit Realty Capital posted earnings of $0.76 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 14.5%. The firm is scheduled to issue its next earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Spirit Realty Capital will report full year earnings of $3.55 per share for the current financial year, with EPS estimates ranging from $3.52 to $3.57. For the next year, analysts expect that the company will report earnings of $3.70 per share, with EPS estimates ranging from $3.65 to $3.74. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover Spirit Realty Capital.

Spirit Realty Capital (NYSE:SRCGet Rating) last released its earnings results on Monday, February 14th. The real estate investment trust reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.50). The firm had revenue of $156.06 million for the quarter, compared to analyst estimates of $156.35 million. Spirit Realty Capital had a return on equity of 4.60% and a net margin of 27.80%. The company’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period last year, the firm earned $0.74 EPS.

SRC has been the subject of a number of recent analyst reports. Jefferies Financial Group cut Spirit Realty Capital from a “buy” rating to a “hold” rating and cut their price objective for the company from $56.00 to $52.00 in a research report on Monday, January 10th. Raymond James dropped their price target on Spirit Realty Capital from $55.00 to $53.00 and set an “outperform” rating for the company in a research report on Wednesday, February 16th. Mizuho boosted their price target on Spirit Realty Capital from $48.00 to $49.00 in a research report on Thursday, January 20th. Zacks Investment Research cut Spirit Realty Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, March 30th. Finally, StockNews.com started coverage on Spirit Realty Capital in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Spirit Realty Capital currently has a consensus rating of “Hold” and an average target price of $52.80.

SRC stock traded up $0.28 during trading on Monday, hitting $46.29. 14,367 shares of the company traded hands, compared to its average volume of 905,693. The stock’s 50-day simple moving average is $46.12 and its 200 day simple moving average is $47.02. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.15 and a quick ratio of 0.15. The company has a market cap of $5.91 billion, a PE ratio of 34.03 and a beta of 1.27. Spirit Realty Capital has a 1 year low of $43.65 and a 1 year high of $52.29.

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 14th. Stockholders of record on Thursday, March 31st were paid a $0.638 dividend. This represents a $2.55 annualized dividend and a dividend yield of 5.51%. The ex-dividend date of this dividend was Wednesday, March 30th. Spirit Realty Capital’s dividend payout ratio (DPR) is presently 187.50%.

In related news, CAO Jay Young sold 19,037 shares of the business’s stock in a transaction on Friday, February 25th. The stock was sold at an average price of $46.38, for a total value of $882,936.06. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.56% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. AGF Investments LLC purchased a new position in shares of Spirit Realty Capital in the 4th quarter valued at about $36,000. Moors & Cabot Inc. purchased a new position in shares of Spirit Realty Capital in the 3rd quarter valued at about $41,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Spirit Realty Capital by 67.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,003 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 403 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Spirit Realty Capital by 24.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,300 shares of the real estate investment trust’s stock valued at $63,000 after acquiring an additional 255 shares during the last quarter. Finally, Lazard Asset Management LLC increased its holdings in shares of Spirit Realty Capital by 17.6% in the 4th quarter. Lazard Asset Management LLC now owns 1,489 shares of the real estate investment trust’s stock valued at $71,000 after acquiring an additional 223 shares during the last quarter. Institutional investors own 93.92% of the company’s stock.

Spirit Realty Capital Company Profile (Get Rating)

Spirit Realty Capital, Inc operates as a holding company. Its in-house capabilities include acquisition, portfolio management, asset management, credit research, real estate research, legal, finance and accounting and capital markets. The company was founded on August 14, 2003 and is headquartered in Dallas, TX.

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