Resources Management Corp CT ADV Raises Position in Spirit Realty Capital, Inc. (NYSE:SRC)

Resources Management Corp CT ADV lifted its stake in Spirit Realty Capital, Inc. (NYSE:SRCGet Rating) by 4.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,405 shares of the real estate investment trust’s stock after purchasing an additional 910 shares during the quarter. Resources Management Corp CT ADV’s holdings in Spirit Realty Capital were worth $1,031,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of SRC. Natixis Advisors L.P. increased its position in Spirit Realty Capital by 3.0% during the first quarter. Natixis Advisors L.P. now owns 66,645 shares of the real estate investment trust’s stock valued at $3,067,000 after acquiring an additional 1,947 shares during the last quarter. Marks Group Wealth Management Inc lifted its stake in Spirit Realty Capital by 32.3% in the fourth quarter. Marks Group Wealth Management Inc now owns 15,906 shares of the real estate investment trust’s stock worth $769,000 after purchasing an additional 3,887 shares during the last quarter. Private Capital Group LLC boosted its position in shares of Spirit Realty Capital by 37.4% during the first 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. Latitude Advisors LLC grew its stake in shares of Spirit Realty Capital by 46.2% during the first quarter. Latitude Advisors LLC now owns 8,985 shares of the real estate investment trust’s stock valued at $413,000 after buying an additional 2,840 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Spirit Realty Capital by 4.4% in the fourth quarter. JPMorgan Chase & Co. now owns 790,200 shares of the real estate investment trust’s stock worth $38,080,000 after buying an additional 33,518 shares during the period. Hedge funds and other institutional investors own 96.37% of the company’s stock.

Spirit Realty Capital Price Performance

Shares of SRC stock opened at $41.09 on Thursday. The stock’s 50-day moving average is $42.10 and its 200 day moving average is $42.70. Spirit Realty Capital, Inc. has a 1-year low of $35.79 and a 1-year high of $50.99. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.15 and a quick ratio of 0.15. The company has a market cap of $5.60 billion, a P/E ratio of 24.46, a PEG ratio of 6.81 and a beta of 1.26.

Spirit Realty Capital (NYSE:SRCGet Rating) last released its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.60 earnings per share 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 firm had revenue of $173.56 million during the quarter, compared to the consensus estimate of $172.40 million. Research analysts predict that Spirit Realty Capital, Inc. will post 3.45 earnings per share for the current fiscal year.

Spirit Realty Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a dividend of $0.663 per share. The ex-dividend date of this dividend is Thursday, September 29th. This is an increase from Spirit Realty Capital’s previous quarterly dividend of $0.64. This represents a $2.65 dividend on an annualized basis and a dividend yield of 6.45%. Spirit Realty Capital’s dividend payout ratio is presently 151.79%.

Wall Street Analyst Weigh In

Several equities analysts have commented on SRC shares. Truist Financial cut their price objective on Spirit Realty Capital from $56.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, June 1st. Jefferies Financial Group decreased their price objective on shares of Spirit Realty Capital from $44.00 to $40.00 and set a “hold” rating for the company in a report on Thursday, June 30th. Raymond James dropped their target price on shares of Spirit Realty Capital from $48.00 to $46.00 and set an “outperform” rating on the stock in a research note on Friday, July 8th. UBS Group decreased 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 note on Monday, July 25th. Finally, Morgan Stanley lowered their price target on Spirit Realty Capital from $50.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, July 12th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus 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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