State of Alaska Department of Revenue Boosts Holdings in Spirit Realty Capital, Inc. (NYSE:SRC)

State of Alaska Department of Revenue increased its holdings in Spirit Realty Capital, Inc. (NYSE:SRCGet Rating) by 1.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 84,833 shares of the real estate investment trust’s stock after acquiring an additional 1,310 shares during the quarter. State of Alaska Department of Revenue’s holdings in Spirit Realty Capital were worth $3,204,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Cohen & Steers Inc. lifted its holdings in Spirit Realty Capital by 31.6% during the first quarter. Cohen & Steers Inc. now owns 14,531,764 shares of the real estate investment trust’s stock valued at $668,837,000 after purchasing an additional 3,488,783 shares in the last quarter. State Street Corp increased its position in Spirit Realty Capital by 18.9% in the first quarter. State Street Corp now owns 7,032,313 shares of the real estate investment trust’s stock worth $327,982,000 after purchasing an additional 1,119,230 shares during the last quarter. Wellington Management Group LLP bought a new stake in Spirit Realty Capital in the first quarter worth $39,698,000. Vanguard Group Inc. increased its position in Spirit Realty Capital by 3.3% in the first quarter. Vanguard Group Inc. now owns 18,866,824 shares of the real estate investment trust’s stock worth $868,251,000 after purchasing an additional 595,068 shares during the last quarter. Finally, Invesco Ltd. increased its position in Spirit Realty Capital by 101.3% in the first quarter. Invesco Ltd. now owns 964,977 shares of the real estate investment trust’s stock worth $44,409,000 after purchasing an additional 485,579 shares during the last quarter. Hedge funds and other institutional investors own 96.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SRC shares. UBS Group reduced their price target on shares of Spirit Realty Capital from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, July 25th. Raymond James reduced their price target on shares of Spirit Realty Capital from $48.00 to $46.00 and set an “outperform” rating on the stock in a research report on Friday, July 8th. Morgan Stanley reduced their price target on shares of Spirit Realty Capital from $50.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 12th. Truist Financial cut their price objective on shares of Spirit Realty Capital from $56.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, June 1st. Finally, Jefferies Financial Group cut their price objective on shares of Spirit Realty Capital from $44.00 to $40.00 and set a “hold” rating on the stock in a research report on Thursday, June 30th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Spirit Realty Capital currently has a consensus rating of “Moderate Buy” and an average target price of $48.44.

Spirit Realty Capital Trading Down 3.1 %

NYSE SRC opened at $39.61 on Friday. The company’s 50-day moving average price is $42.26 and its 200-day moving average price is $42.50. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.82. The stock has a market cap of $5.40 billion, a PE ratio of 23.58, a PEG ratio of 6.95 and a beta of 1.26. Spirit Realty Capital, Inc. has a 12 month low of $35.79 and a 12 month high of $50.99.

Spirit Realty Capital (NYSE:SRCGet Rating) last posted its quarterly earnings results 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). The company had revenue of $173.56 million during the quarter, compared to the consensus estimate of $172.40 million. Spirit Realty Capital had a return on equity of 5.52% and a net margin of 33.97%. Equities research analysts forecast that Spirit Realty Capital, Inc. will post 3.45 earnings per share for the current year.

Spirit Realty Capital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a $0.663 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This is a boost from Spirit Realty Capital’s previous quarterly dividend of $0.64. This represents a $2.65 dividend on an annualized basis and a dividend yield of 6.70%. Spirit Realty Capital’s dividend payout ratio is presently 151.79%.

Spirit Realty Capital 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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