Guggenheim Capital LLC Increases Holdings in Spirit Realty Capital, Inc. (NYSE:SRC)

Guggenheim Capital LLC grew its holdings in shares of Spirit Realty Capital, Inc. (NYSE:SRC) by 25.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,880 shares of the real estate investment trust’s stock after buying an additional 8,255 shares during the quarter. Guggenheim Capital LLC’s holdings in Spirit Realty Capital were worth $1,629,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Money Concepts Capital Corp purchased a new stake in shares of Spirit Realty Capital during the 4th quarter valued at about $25,000. CoreCap Advisors LLC bought a new position in Spirit Realty Capital during the 4th quarter valued at about $29,000. Householder Group Estate & Retirement Specialist LLC grew its holdings in Spirit Realty Capital by 938.4% during the 1st quarter. Householder Group Estate & Retirement Specialist LLC now owns 758 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 685 shares during the last quarter. EverSource Wealth Advisors LLC bought a new position in Spirit Realty Capital during the 4th quarter valued at about $34,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in Spirit Realty Capital during the 4th quarter valued at about $42,000. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Spirit Realty Capital

In related news, Director Michelle M. Frymire sold 4,000 shares of the stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $39.75, for a total transaction of $159,000.00. Following the completion of the sale, the director now owns 10,009 shares of the company’s stock, valued at $397,857.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.58% of the stock is currently owned by corporate insiders.

Spirit Realty Capital Price Performance

NYSE SRC opened at $38.62 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.05 and a current ratio of 1.05. The firm’s 50 day moving average price is $39.61 and its 200-day moving average price is $39.58. Spirit Realty Capital, Inc. has a 52-week low of $34.31 and a 52-week high of $44.65. The company has a market cap of $5.46 billion, a PE ratio of 18.93, a P/E/G ratio of 0.69 and a beta of 1.24.

Spirit Realty Capital (NYSE:SRC) last released its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.50). Spirit Realty Capital had a net margin of 39.59% and a return on equity of 6.69%. The business had revenue of $1.00 million for the quarter, compared to the consensus estimate of $187.23 million. During the same quarter in the prior year, the business posted $0.90 earnings per share. Spirit Realty Capital’s revenue for the quarter was up .0% on a year-over-year basis. Sell-side analysts forecast that Spirit Realty Capital, Inc. will post 3.45 EPS for the current fiscal year.

Spirit Realty Capital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a dividend of $0.6696 per share. This is a boost from Spirit Realty Capital’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.68 dividend on an annualized basis and a yield of 6.94%. Spirit Realty Capital’s dividend payout ratio is presently 130.88%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SRC. StockNews.com began coverage on shares of Spirit Realty Capital in a report on Thursday, August 17th. They set a “hold” rating on the stock. Stifel Nicolaus upped their target price on shares of Spirit Realty Capital from $45.50 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Mizuho upped their target price on shares of Spirit Realty Capital from $40.00 to $41.00 in a research note on Thursday, August 10th. BNP Paribas began coverage on shares of Spirit Realty Capital in a research note on Wednesday, June 14th. They issued an “underperform” rating and a $42.00 target price on the stock. Finally, Truist Financial dropped their target price on shares of Spirit Realty Capital from $46.00 to $45.00 in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Spirit Realty Capital has an average rating of “Hold” and a consensus price target of $42.88.

Spirit Realty Capital Profile

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 June 30, 2023, our diverse portfolio consisted of 2,064 retail, industrial and other properties across 49 states, which were leased to 345 tenants operating in 37 industries.