Spirit Realty Capital, Inc. (NYSE:SRC) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its holdings in shares of Spirit Realty Capital, Inc. (NYSE:SRCGet Rating) by 0.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 87,927 shares of the real estate investment trust’s stock after selling 332 shares during the period. Amalgamated Bank’s holdings in Spirit Realty Capital were worth $4,046,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Meeder Asset Management Inc. acquired a new position in shares of Spirit Realty Capital during the first quarter valued at $26,000. Covestor Ltd boosted its stake in Spirit Realty Capital by 255.6% during the first quarter. Covestor Ltd now owns 1,330 shares of the real estate investment trust’s stock valued at $61,000 after buying an additional 956 shares in the last quarter. Private Capital Group LLC boosted its stake in Spirit Realty Capital by 37.4% during the first quarter. Private Capital Group LLC now owns 1,367 shares of the real estate investment trust’s stock valued at $64,000 after buying an additional 372 shares in the last quarter. Signaturefd LLC boosted its stake in Spirit Realty Capital by 32.0% during the first quarter. Signaturefd LLC now owns 1,978 shares of the real estate investment trust’s stock valued at $91,000 after buying an additional 479 shares in the last quarter. Finally, Prospera Financial Services Inc bought a new position in Spirit Realty Capital during the first quarter valued at about $95,000. 96.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SRC has been the subject of several research reports. Morgan Stanley decreased their target price on Spirit Realty Capital from $50.00 to $40.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 12th. Jefferies Financial Group decreased their target price on Spirit Realty Capital from $44.00 to $40.00 and set a “hold” rating for the company in a research note on Thursday, June 30th. UBS Group decreased their target price on Spirit Realty Capital from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, July 25th. Raymond James decreased their target price on Spirit Realty Capital from $48.00 to $46.00 and set an “outperform” rating for the company in a research note on Friday, July 8th. Finally, Truist Financial decreased their price target on 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 investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.44.

Spirit Realty Capital Trading Down 3.0 %

NYSE:SRC opened at $40.86 on Thursday. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.82. Spirit Realty Capital, Inc. has a 1-year low of $35.79 and a 1-year high of $50.99. The firm has a market capitalization of $5.57 billion, a price-to-earnings ratio of 24.32, a price-to-earnings-growth ratio of 7.02 and a beta of 1.26. The stock has a fifty day simple moving average of $42.28 and a 200 day simple moving average of $42.54.

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

Spirit Realty Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a dividend of $0.663 per share. The ex-dividend date is Thursday, September 29th. This is a positive change from Spirit Realty Capital’s previous quarterly dividend of $0.64. This represents a $2.65 dividend on an annualized basis and a yield of 6.49%. Spirit Realty Capital’s dividend payout ratio (DPR) is presently 151.79%.

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.

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

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