Swiss National Bank Raises Holdings in Spirit Realty Capital, Inc. (NYSE:SRC)

Swiss National Bank lifted its stake in Spirit Realty Capital, Inc. (NYSE:SRCGet Rating) by 3.2% during the second quarter, Holdings Channel reports. The institutional investor owned 300,854 shares of the real estate investment trust’s stock after acquiring an additional 9,300 shares during the quarter. Swiss National Bank’s holdings in Spirit Realty Capital were worth $11,366,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of SRC. Cohen & Steers Inc. boosted its stake in shares of Spirit Realty Capital by 31.6% in the first quarter. Cohen & Steers Inc. now owns 14,531,764 shares of the real estate investment trust’s stock worth $668,837,000 after buying an additional 3,488,783 shares during the last quarter. State Street Corp boosted its stake in shares of 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 buying an additional 1,119,230 shares during the last quarter. Wellington Management Group LLP purchased a new position in Spirit Realty Capital during the first quarter worth approximately $39,698,000. Vanguard Group Inc. boosted its position in Spirit Realty Capital by 3.3% during 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 in the last quarter. Finally, Invesco Ltd. boosted its position in Spirit Realty Capital by 101.3% during 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 in the last quarter. Hedge funds and other institutional investors own 96.37% of the company’s stock.

Spirit Realty Capital Price Performance

NYSE:SRC opened at $41.17 on Friday. Spirit Realty Capital, Inc. has a one year low of $34.31 and a one year high of $49.94. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.74 and a current ratio of 0.74. The stock has a market cap of $5.75 billion, a PE ratio of 21.67, a P/E/G ratio of 8.98 and a beta of 1.24. The stock has a 50 day moving average price of $38.21 and a 200 day moving average price of $40.07.

Spirit Realty Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Investors of record on Friday, December 30th will be issued a $0.663 dividend. The ex-dividend date is Thursday, December 29th. This represents a $2.65 annualized dividend and a dividend yield of 6.44%. Spirit Realty Capital’s dividend payout ratio is presently 139.47%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Bank of America downgraded Spirit Realty Capital from a “buy” rating to a “neutral” rating and increased their price target for the stock from $42.00 to $43.00 in a research report on Monday, November 14th. UBS Group lowered their price target on 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. Oppenheimer assumed coverage on Spirit Realty Capital in a research report on Wednesday, October 19th. They set a “market perform” rating and a $37.00 price target on the stock. StockNews.com assumed coverage on Spirit Realty Capital in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Raymond James lowered their price target on Spirit Realty Capital from $46.00 to $41.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 4th. Seven 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, the stock has an average rating of “Hold” and a consensus price target of $46.45.

About Spirit Realty Capital

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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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