Shell Asset Management Co. lowered its stake in Spirit Realty Capital, Inc. (NYSE:SRC – Get Rating) by 12.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,718 shares of the real estate investment trust’s stock after selling 2,179 shares during the quarter. Shell Asset Management Co.’s holdings in Spirit Realty Capital were worth $677,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in SRC. AGF Investments LLC acquired a new position in shares of Spirit Realty Capital in the 4th quarter valued at $36,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Spirit Realty Capital by 67.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,003 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 403 shares during the period. Quadrant Capital Group LLC raised its stake 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 buying an additional 255 shares during the period. Private Capital Group LLC raised its stake in Spirit Realty Capital by 37.4% during the 1st quarter. Private Capital Group LLC now owns 1,367 shares of the real estate investment trust’s stock worth $64,000 after buying an additional 372 shares during the period. Finally, Lazard Asset Management LLC raised its stake 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 buying an additional 223 shares during the period. Institutional investors and hedge funds own 97.40% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts recently commented on the company. UBS Group dropped their price objective on Spirit Realty Capital from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, July 25th. JMP Securities assumed coverage on Spirit Realty Capital in a research note on Tuesday, May 10th. They set an “outperform” rating and a $54.00 price objective on the stock. Raymond James dropped their price objective on Spirit Realty Capital from $48.00 to $46.00 and set an “outperform” rating on the stock in a research note on Friday, July 8th. Jefferies Financial Group lowered their target price on Spirit Realty Capital from $44.00 to $40.00 and set a “hold” rating for the company in a report on Thursday, June 30th. Finally, Truist Financial lowered their target price on Spirit Realty Capital from $56.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, June 1st. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $48.90.
Spirit Realty Capital Price Performance
Spirit Realty Capital (NYSE:SRC – Get Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.42). The company had revenue of $167.08 million during the quarter, compared to the consensus estimate of $163.41 million. Spirit Realty Capital had a net margin of 35.32% and a return on equity of 5.90%. During the same quarter in the previous year, the business earned $0.76 EPS. As a group, sell-side analysts predict that Spirit Realty Capital, Inc. will post 3.43 earnings per share for the current fiscal year.
Spirit Realty Capital Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were issued a $0.638 dividend. This represents a $2.55 annualized dividend and a dividend yield of 5.81%. The ex-dividend date was Wednesday, June 29th. Spirit Realty Capital’s payout ratio is 140.11%.
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 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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