Spirit Realty Capital, Inc. (NYSE:SRC) Receives Average Recommendation of “Buy” from Analysts

Spirit Realty Capital, Inc. (NYSE:SRCGet Rating) has been given a consensus rating of “Buy” by the thirteen brokerages that are currently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $53.00.

A number of brokerages have issued reports on SRC. Raymond James decreased their target price 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. StockNews.com assumed coverage on Spirit Realty Capital in a report on Thursday, March 31st. They set a “hold” rating for the company. JMP Securities assumed coverage on Spirit Realty Capital in a report on Tuesday. They set an “outperform” rating and a $54.00 price target for the company. Zacks Investment Research upgraded Spirit Realty Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, May 4th. Finally, Jefferies Financial Group lowered Spirit Realty Capital from a “buy” rating to a “hold” rating and cut their target price for the company from $56.00 to $52.00 in a research note on Monday, January 10th.

Spirit Realty Capital stock traded up $0.06 during midday trading on Tuesday, hitting $39.85. The company’s stock had a trading volume of 7,540 shares, compared to its average volume of 891,563. The company has a quick ratio of 0.15, a current ratio of 0.31 and a debt-to-equity ratio of 0.79. The stock’s 50-day moving average price is $45.57 and its 200-day moving average price is $46.64. Spirit Realty Capital has a 12 month low of $39.72 and a 12 month high of $52.29. The company has a market capitalization of $5.35 billion, a PE ratio of 22.22 and a beta of 1.22.

Spirit Realty Capital (NYSE:SRCGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.42). Spirit Realty Capital had a return on equity of 5.90% and a net margin of 35.32%. During the same period last year, the company posted $0.76 EPS. As a group, equities analysts anticipate that Spirit Realty Capital will post 3.43 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 14th. Investors of record on Thursday, March 31st were given a dividend of $0.638 per share. The ex-dividend date was Wednesday, March 30th. This represents a $2.55 dividend on an annualized basis and a yield of 6.40%. Spirit Realty Capital’s dividend payout ratio is currently 140.11%.

In related news, CAO Jay Young sold 19,037 shares of the firm’s stock in a transaction that occurred on Friday, February 25th. The stock was sold at an average price of $46.38, for a total transaction of $882,936.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.58% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in shares of Spirit Realty Capital by 9.1% in the fourth quarter. BlackRock Inc. now owns 17,020,701 shares of the real estate investment trust’s stock valued at $820,226,000 after purchasing an additional 1,415,024 shares in the last quarter. State Street Corp increased its holdings in Spirit Realty Capital by 11.3% during the 4th quarter. State Street Corp now owns 5,913,083 shares of the real estate investment trust’s stock valued at $288,676,000 after purchasing an additional 599,484 shares during the period. Long Pond Capital LP grew its holdings in shares of Spirit Realty Capital by 47.3% during the 3rd quarter. Long Pond Capital LP now owns 3,819,439 shares of the real estate investment trust’s stock worth $175,847,000 after acquiring an additional 1,227,013 shares during the period. Daiwa Securities Group Inc. grew its holdings in shares of Spirit Realty Capital by 2.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 3,052,821 shares of the real estate investment trust’s stock worth $147,115,000 after acquiring an additional 85,122 shares during the period. Finally, Macquarie Group Ltd. grew its stake in shares of Spirit Realty Capital by 4.3% in the 3rd quarter. Macquarie Group Ltd. now owns 2,634,171 shares of the real estate investment trust’s stock worth $121,277,000 after buying an additional 107,470 shares during the last quarter. 97.40% of the stock is owned by institutional investors and hedge funds.

About Spirit Realty Capital (Get Rating)

Spirit Realty Capital, Inc (NYSE: SRC) is a premier net-lease REIT that primarily invests in single-tenant, operationally essential real estate assets, subject to long-term leases. As of September 30, 2020, our diverse portfolio of 1,778 owned properties, with an aggregate leasable area of 37.2 million square feet in 48 states, included retail, industrial and office buildings leased to 296 tenants across 28 retail industries.

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Analyst Recommendations for Spirit Realty Capital (NYSE:SRC)

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