Spirit Realty Capital, Inc. (NYSE:SRC) Shares Sold by Amalgamated Bank

Amalgamated Bank decreased its position in Spirit Realty Capital, Inc. (NYSE:SRCGet Rating) by 0.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 87,927 shares of the real estate investment trust’s stock after selling 332 shares during the quarter. Amalgamated Bank owned about 0.07% of Spirit Realty Capital worth $4,046,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in SRC. Cohen & Steers Inc. raised its stake in Spirit Realty Capital by 31.6% in the 1st quarter. Cohen & Steers Inc. now owns 14,531,764 shares of the real estate investment trust’s stock valued at $668,837,000 after purchasing an additional 3,488,783 shares during the last quarter. State Street Corp increased its stake in shares of Spirit Realty Capital by 18.9% during the 1st quarter. State Street Corp now owns 7,032,313 shares of the real estate investment trust’s stock valued at $327,982,000 after acquiring an additional 1,119,230 shares during the last quarter. Wellington Management Group LLP acquired a new position in shares of Spirit Realty Capital during the 1st quarter valued at about $39,698,000. Vanguard Group Inc. increased its stake in shares of Spirit Realty Capital by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 18,866,824 shares of the real estate investment trust’s stock valued at $868,251,000 after acquiring an additional 595,068 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of Spirit Realty Capital by 101.3% during the 1st quarter. Invesco Ltd. now owns 964,977 shares of the real estate investment trust’s stock valued at $44,409,000 after acquiring an additional 485,579 shares during the last quarter. Institutional investors and hedge funds own 96.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SRC. Raymond James dropped their price objective on shares of Spirit Realty Capital from $48.00 to $46.00 and set an “outperform” rating for the company in a research note on Friday, July 8th. Truist Financial dropped their price objective on shares of Spirit Realty Capital from $56.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, June 1st. Morgan Stanley dropped their price objective on shares of Spirit Realty Capital from $50.00 to $40.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 12th. Jefferies Financial Group dropped 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 research note on Thursday, June 30th. Finally, UBS Group dropped their target price 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. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $48.44.

Spirit Realty Capital Stock Down 3.0 %

NYSE SRC opened at $40.86 on Thursday. The stock has a market cap of $5.57 billion, a PE ratio of 24.32, a P/E/G ratio of 7.02 and a beta of 1.26. Spirit Realty Capital, Inc. has a fifty-two week low of $35.79 and a fifty-two week high of $50.99. The business has a 50 day moving average price of $42.28 and a two-hundred day moving average price of $42.54. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.82.

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). The company had revenue of $173.56 million during the quarter, compared to analysts’ expectations of $172.40 million. Spirit Realty Capital had a return on equity of 5.52% and a net margin of 33.97%. As a group, sell-side analysts predict that Spirit Realty Capital, Inc. will post 3.45 EPS 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 issued a $0.663 dividend. This represents a $2.65 dividend on an annualized basis and a yield of 6.49%. The ex-dividend date is Thursday, September 29th. This is a boost from Spirit Realty Capital’s previous quarterly dividend of $0.64. Spirit Realty Capital’s dividend payout ratio is currently 151.79%.

Spirit Realty Capital Company Profile

(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.

Featured Articles

Want to see what other hedge funds are holding SRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spirit Realty Capital, Inc. (NYSE:SRCGet Rating).

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

Receive News & Ratings for Spirit Realty Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit Realty Capital and related companies with MarketBeat.com's FREE daily email newsletter.