Natixis Advisors L.P. Sells 2,019 Shares of Spirit Realty Capital, Inc. (NYSE:SRC)

Natixis Advisors L.P. lowered its holdings in Spirit Realty Capital, Inc. (NYSE:SRC) by 12.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,520 shares of the real estate investment trust’s stock after selling 2,019 shares during the period. Natixis Advisors L.P.’s holdings in Spirit Realty Capital were worth $578,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Treasurer of the State of North Carolina increased its holdings in Spirit Realty Capital by 0.7% during the 1st quarter. Treasurer of the State of North Carolina now owns 60,832 shares of the real estate investment trust’s stock worth $2,424,000 after acquiring an additional 430 shares during the period. Sei Investments Co. increased its holdings in Spirit Realty Capital by 29.0% during the 4th quarter. Sei Investments Co. now owns 453,509 shares of the real estate investment trust’s stock worth $18,109,000 after acquiring an additional 101,970 shares during the period. Kovack Advisors Inc. bought a new stake in Spirit Realty Capital during the 1st quarter worth approximately $623,000. Marcum Wealth LLC increased its holdings in Spirit Realty Capital by 11.8% during the 1st quarter. Marcum Wealth LLC now owns 7,233 shares of the real estate investment trust’s stock worth $288,000 after acquiring an additional 763 shares during the period. Finally, CI Investments Inc. increased its holdings in Spirit Realty Capital by 63.3% during the 4th quarter. CI Investments Inc. now owns 1,866 shares of the real estate investment trust’s stock worth $75,000 after acquiring an additional 723 shares during the period. Institutional investors own 96.09% of the company’s stock.

Analyst Ratings Changes

SRC has been the topic of a number of research analyst reports. Mizuho increased their price target on shares of Spirit Realty Capital from $40.00 to $41.00 in a report on Thursday, August 10th. StockNews.com initiated coverage on shares of Spirit Realty Capital in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Stifel Nicolaus increased their price target on shares of Spirit Realty Capital from $45.50 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, August 8th. Truist Financial decreased their price target on shares of Spirit Realty Capital from $46.00 to $45.00 in a report on Wednesday, August 30th. Finally, BNP Paribas started coverage on shares of Spirit Realty Capital in a report on Wednesday, June 14th. They issued an “underperform” rating and a $42.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Spirit Realty Capital presently has an average rating of “Hold” and an average price target of $42.88.

Spirit Realty Capital Price Performance

SRC stock opened at $37.85 on Thursday. The firm has a market cap of $5.35 billion, a P/E ratio of 18.55, a P/E/G ratio of 0.69 and a beta of 1.25. Spirit Realty Capital, Inc. has a 52 week low of $34.31 and a 52 week high of $44.65. 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 fifty day moving average is $39.55 and its 200 day moving average is $39.38.

Spirit Realty Capital (NYSE:SRC) last announced its quarterly earnings results 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). The firm had revenue of $1.00 million during the quarter, compared to the consensus estimate of $187.23 million. Spirit Realty Capital had a return on equity of 6.69% and a net margin of 39.59%. Spirit Realty Capital’s revenue was up .0% on a year-over-year basis. During the same period last year, the business earned $0.90 EPS. Research analysts predict that Spirit Realty Capital, Inc. will post 3.45 earnings per share for the current year.

Spirit Realty Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be issued a $0.6696 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 7.08%. The ex-dividend date is Thursday, September 28th. This is a positive change from Spirit Realty Capital’s previous quarterly dividend of $0.66. Spirit Realty Capital’s dividend payout ratio (DPR) is 130.88%.

Spirit Realty Capital Company 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.