Arizona State Retirement System Buys 1,278 Shares of Spirit Realty Capital, Inc. (NYSE:SRC)

Arizona State Retirement System grew its stake in Spirit Realty Capital, Inc. (NYSE:SRCGet Rating) by 4.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,334 shares of the real estate investment trust’s stock after purchasing an additional 1,278 shares during the period. Arizona State Retirement System’s holdings in Spirit Realty Capital were worth $1,534,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of SRC. Lazard Asset Management LLC grew its position in Spirit Realty Capital by 17.6% during the 4th quarter. Lazard Asset Management LLC now owns 1,489 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 223 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in Spirit Realty Capital by 1.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 16,021 shares of the real estate investment trust’s stock worth $772,000 after acquiring an additional 238 shares during the last quarter. Quadrant Capital Group LLC grew its position in Spirit Realty Capital by 24.4% during the 4th quarter. Quadrant Capital Group LLC now owns 1,300 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 255 shares during the last quarter. Marcum Wealth LLC grew its position in Spirit Realty Capital by 5.3% during the 1st quarter. Marcum Wealth LLC now owns 6,031 shares of the real estate investment trust’s stock worth $278,000 after acquiring an additional 301 shares during the last quarter. Finally, Adams Wealth Management grew its position in Spirit Realty Capital by 3.0% during the 1st quarter. Adams Wealth Management now owns 11,073 shares of the real estate investment trust’s stock worth $510,000 after acquiring an additional 318 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on SRC. JMP Securities began coverage on Spirit Realty Capital in a report on Tuesday, May 10th. They set an “outperform” rating and a $54.00 price objective on the stock. UBS Group reduced their price objective on Spirit Realty Capital from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday, July 25th. Morgan Stanley reduced their price objective on Spirit Realty Capital from $50.00 to $40.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 12th. Raymond James reduced their price objective on Spirit Realty Capital from $48.00 to $46.00 and set an “outperform” rating on the stock in a report on Friday, July 8th. Finally, Jefferies Financial Group reduced their price objective on Spirit Realty Capital from $44.00 to $40.00 and set a “hold” rating on the stock in a report on Thursday, June 30th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Spirit Realty Capital currently has an average rating of “Hold” and a consensus price target of $48.90.

Spirit Realty Capital Stock Performance

Shares of Spirit Realty Capital stock opened at $43.96 on Tuesday. The company has a market capitalization of $5.90 billion, a PE ratio of 24.15, a PEG ratio of 5.00 and a beta of 1.25. Spirit Realty Capital, Inc. has a 12 month low of $35.79 and a 12 month high of $52.29. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.79. The stock’s fifty day simple moving average is $40.33 and its 200 day simple moving average is $43.58.

Spirit Realty Capital (NYSE:SRCGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The real estate investment trust reported $0.42 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.42). The business had revenue of $167.08 million for the quarter, compared to analyst estimates of $163.41 million. Spirit Realty Capital had a return on equity of 5.90% and a net margin of 35.32%. During the same period in the previous year, the business posted $0.76 EPS. On average, research analysts predict that Spirit Realty Capital, Inc. will post 3.43 EPS for the current year.

Spirit Realty Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were issued a dividend of $0.638 per share. This represents a $2.55 dividend on an annualized basis and a yield of 5.81%. The ex-dividend date of this dividend was Wednesday, June 29th. Spirit Realty Capital’s dividend payout ratio (DPR) is presently 140.11%.

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.

Recommended Stories

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

Want More Great Investing Ideas?

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.