Spirit Realty Capital, Inc. (NYSE:SRC) Shares Purchased by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC boosted its position in Spirit Realty Capital, Inc. (NYSE:SRCGet Rating) by 39.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 7,418 shares of the real estate investment trust’s stock after acquiring an additional 2,109 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Spirit Realty Capital were worth $293,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Natixis Advisors L.P. increased its position in shares of Spirit Realty Capital by 3.0% in the 1st quarter. Natixis Advisors L.P. now owns 66,645 shares of the real estate investment trust’s stock worth $3,067,000 after purchasing an additional 1,947 shares during the last quarter. Marks Group Wealth Management Inc increased its position in shares of Spirit Realty Capital by 32.3% in the 4th quarter. Marks Group Wealth Management Inc now owns 15,906 shares of the real estate investment trust’s stock worth $769,000 after purchasing an additional 3,887 shares during the last quarter. Private Capital Group LLC increased its position in shares of Spirit Realty Capital by 37.4% in the 1st quarter. Private Capital Group LLC now owns 1,367 shares of the real estate investment trust’s stock worth $64,000 after purchasing an additional 372 shares during the last quarter. Latitude Advisors LLC increased its position in shares of Spirit Realty Capital by 46.2% in the 1st quarter. Latitude Advisors LLC now owns 8,985 shares of the real estate investment trust’s stock worth $413,000 after purchasing an additional 2,840 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Spirit Realty Capital by 4.4% during the 4th quarter. JPMorgan Chase & Co. now owns 790,200 shares of the real estate investment trust’s stock valued at $38,080,000 after buying an additional 33,518 shares during the last quarter. Institutional investors and hedge funds own 96.37% of the company’s stock.

Spirit Realty Capital Stock Up 0.2 %

SRC stock opened at $42.13 on Monday. Spirit Realty Capital, Inc. has a 12 month low of $35.79 and a 12 month high of $50.99. The firm has a market cap of $5.74 billion, a PE ratio of 25.08, a P/E/G ratio of 6.95 and a beta of 1.26. The firm has a 50 day simple moving average of $42.19 and a 200 day simple moving average of $42.59. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.15 and a quick ratio of 0.15.

Spirit Realty Capital (NYSE:SRCGet Rating) last released its earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.60 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.25). Spirit Realty Capital had a net margin of 33.97% and a return on equity of 5.52%. The business had revenue of $173.56 million for the quarter, compared to analyst estimates of $172.40 million. Equities research analysts forecast that Spirit Realty Capital, Inc. will post 3.45 earnings per share for the current fiscal year.

Spirit Realty Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a $0.663 dividend. This represents a $2.65 annualized dividend and a dividend yield of 6.29%. The ex-dividend date of this dividend is Thursday, September 29th. This is an increase from Spirit Realty Capital’s previous quarterly dividend of $0.64. Spirit Realty Capital’s dividend payout ratio is 151.79%.

Wall Street Analyst Weigh In

SRC has been the subject of a number of recent research reports. UBS Group lowered 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. Jefferies Financial Group lowered their price objective on shares of Spirit Realty Capital from $44.00 to $40.00 and set a “hold” rating for the company in a research report on Thursday, June 30th. Morgan Stanley lowered their price objective on shares of Spirit Realty Capital from $50.00 to $40.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 12th. Raymond James decreased their target price on shares of Spirit Realty Capital from $48.00 to $46.00 and set an “outperform” rating for the company in a research report on Friday, July 8th. Finally, Truist Financial decreased their target price on shares of Spirit Realty Capital from $56.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, June 1st. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.44.

About Spirit Realty Capital

(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.

Further Reading

Want to see what other hedge funds are holding SRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spirit Realty Capital, Inc. (NYSE:SRCGet Rating).

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

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