Principal Financial Group Inc. Boosts Stake in Spirit Realty Capital, Inc. (NYSE:SRC)

Principal Financial Group Inc. increased its stake in shares of Spirit Realty Capital, Inc. (NYSE:SRCGet Rating) by 21.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 528,797 shares of the real estate investment trust’s stock after purchasing an additional 94,709 shares during the period. Principal Financial Group Inc. owned approximately 0.39% of Spirit Realty Capital worth $19,978,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SRC. Meeder Asset Management Inc. purchased a new position in shares of Spirit Realty Capital during the 1st quarter worth approximately $26,000. Parallel Advisors LLC boosted its position in Spirit Realty Capital by 24.5% in the 2nd quarter. Parallel Advisors LLC now owns 1,230 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 242 shares during the period. Covestor Ltd boosted its position in Spirit Realty Capital by 255.6% in the 1st quarter. Covestor Ltd now owns 1,330 shares of the real estate investment trust’s stock valued at $61,000 after buying an additional 956 shares during the period. EverSource Wealth Advisors LLC purchased a new position in Spirit Realty Capital in the 2nd quarter valued at approximately $69,000. Finally, Signaturefd LLC boosted its position in Spirit Realty Capital by 32.0% in the 1st quarter. Signaturefd LLC now owns 1,978 shares of the real estate investment trust’s stock valued at $91,000 after buying an additional 479 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 NYSE:SRC opened at $41.80 on Tuesday. The company’s fifty day moving average price is $38.19 and its 200 day moving average price is $40.05. Spirit Realty Capital, Inc. has a 12 month low of $34.31 and a 12 month high of $49.94. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.74 and a quick ratio of 0.74. The firm has a market capitalization of $5.84 billion, a P/E ratio of 22.00, a P/E/G ratio of 8.99 and a beta of 1.24.

Spirit Realty Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Friday, December 30th will be paid a $0.663 dividend. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $2.65 dividend on an annualized basis and a yield of 6.34%. Spirit Realty Capital’s dividend payout ratio is presently 139.47%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SRC. Oppenheimer began coverage on shares of Spirit Realty Capital in a research report on Wednesday, October 19th. They issued a “market perform” rating and a $37.00 price target for the company. Bank of America cut shares of Spirit Realty Capital from a “buy” rating to a “neutral” rating and raised their price target for the company from $42.00 to $43.00 in a research report on Monday, November 14th. Raymond James decreased their price objective on shares of Spirit Realty Capital from $46.00 to $41.00 and set an “outperform” rating for the company in a research report on Tuesday, October 4th. StockNews.com initiated coverage on shares of Spirit Realty Capital in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, UBS Group decreased their price objective 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. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $46.45.

Spirit Realty Capital Company Profile

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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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