Cohen & Steers Inc. Grows Stock Holdings in Spirit Realty Capital, Inc. (NYSE:SRC)

Cohen & Steers Inc. raised its stake in Spirit Realty Capital, Inc. (NYSE:SRCGet Rating) by 31.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,531,764 shares of the real estate investment trust’s stock after buying an additional 3,488,783 shares during the period. Spirit Realty Capital comprises 1.1% of Cohen & Steers Inc.’s holdings, making the stock its 26th biggest holding. Cohen & Steers Inc. owned about 10.82% of Spirit Realty Capital worth $668,837,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Lazard Asset Management LLC boosted its position in 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 buying an additional 223 shares during the period. Marcum Wealth LLC boosted its position in Spirit Realty Capital by 5.3% in the 1st quarter. Marcum Wealth LLC now owns 6,031 shares of the real estate investment trust’s stock valued at $278,000 after buying an additional 301 shares during the period. Adams Wealth Management boosted its position in Spirit Realty Capital by 3.0% in the 1st quarter. Adams Wealth Management now owns 11,073 shares of the real estate investment trust’s stock valued at $510,000 after buying an additional 318 shares during the period. Greenleaf Trust boosted its position in Spirit Realty Capital by 6.0% in the 1st quarter. Greenleaf Trust now owns 5,821 shares of the real estate investment trust’s stock valued at $268,000 after buying an additional 330 shares during the period. Finally, Private Capital Group LLC boosted its position in Spirit Realty Capital by 37.4% in the 1st quarter. Private Capital Group LLC now owns 1,367 shares of the real estate investment trust’s stock valued at $64,000 after buying an additional 372 shares during the period. 96.37% of the stock is owned by hedge funds and other institutional investors.

Spirit Realty Capital Trading Up 2.0 %

NYSE:SRC opened at $41.61 on Friday. Spirit Realty Capital, Inc. has a 52 week low of $35.79 and a 52 week high of $50.99. The firm has a 50 day moving average of $41.95 and a 200 day moving average of $42.79. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of 24.77, a PEG ratio of 6.73 and a beta of 1.26.

Spirit Realty Capital (NYSE:SRCGet Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.25). Spirit Realty Capital had a net margin of 33.97% and a return on equity of 5.52%. The company had revenue of $173.56 million for the quarter, compared to analyst estimates of $172.40 million. As a group, sell-side analysts anticipate that Spirit Realty Capital, Inc. will post 3.45 earnings per share for the current fiscal year.

Spirit Realty Capital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.663 per share. This is a positive change from Spirit Realty Capital’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $2.65 dividend on an annualized basis and a yield of 6.37%. Spirit Realty Capital’s dividend payout ratio is presently 151.79%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SRC. Truist Financial lowered their price target on shares of Spirit Realty Capital from $56.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, June 1st. Raymond James lowered their price target on shares of Spirit Realty Capital from $48.00 to $46.00 and set an “outperform” rating for the company in a research report on Friday, July 8th. Morgan Stanley lowered their price target on shares of Spirit Realty Capital from $50.00 to $40.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 12th. Jefferies Financial Group lowered their price target on shares of Spirit Realty Capital from $44.00 to $40.00 and set a “hold” rating for the company in a research report on Thursday, June 30th. Finally, UBS Group lowered their price target on shares of Spirit Realty Capital from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday, July 25th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Spirit Realty Capital currently has an average rating of “Hold” and an average target price of $48.90.

About Spirit Realty Capital

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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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Institutional Ownership by Quarter for Spirit Realty Capital (NYSE:SRC)

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