California Public Employees Retirement System Lowers Stock Position in Spirit Realty Capital, Inc. (NYSE:SRC)

California Public Employees Retirement System lowered its position in shares of Spirit Realty Capital, Inc. (NYSE:SRCGet Rating) by 5.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 232,571 shares of the real estate investment trust’s stock after selling 13,496 shares during the quarter. California Public Employees Retirement System’s holdings in Spirit Realty Capital were worth $8,787,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in Spirit Realty Capital by 21.8% during the second quarter. Principal Financial Group Inc. now owns 528,797 shares of the real estate investment trust’s stock valued at $19,978,000 after buying an additional 94,709 shares during the period. Swiss National Bank lifted its position in Spirit Realty Capital by 3.2% during the second quarter. Swiss National Bank now owns 300,854 shares of the real estate investment trust’s stock valued at $11,366,000 after buying an additional 9,300 shares during the period. Pictet Asset Management SA lifted its position in Spirit Realty Capital by 7.1% during the second quarter. Pictet Asset Management SA now owns 52,621 shares of the real estate investment trust’s stock valued at $1,988,000 after buying an additional 3,479 shares during the period. Truvestments Capital LLC lifted its position in Spirit Realty Capital by 107.7% during the second quarter. Truvestments Capital LLC now owns 10,061 shares of the real estate investment trust’s stock valued at $380,000 after buying an additional 5,216 shares during the period. Finally, ProVise Management Group LLC lifted its position in Spirit Realty Capital by 1.1% during the second quarter. ProVise Management Group LLC now owns 66,614 shares of the real estate investment trust’s stock valued at $2,517,000 after buying an additional 724 shares during the period. Hedge funds and other institutional investors own 96.37% of the company’s stock.

Wall Street Analyst Weigh In

SRC has been the subject of several recent research reports. Bank of America lowered Spirit Realty Capital from a “buy” rating to a “neutral” rating and raised their price objective for the company from $42.00 to $43.00 in a research report on Monday, November 14th. Raymond James reduced their price target on Spirit Realty Capital from $46.00 to $41.00 and set an “outperform” rating for the company in a report on Tuesday, October 4th. StockNews.com started coverage on Spirit Realty Capital in a report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Oppenheimer started coverage on Spirit Realty Capital in a report on Wednesday, October 19th. They set a “market perform” rating and a $37.00 price target for the company. Seven 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, the company has a consensus rating of “Hold” and an average price target of $46.45.

Spirit Realty Capital Price Performance

NYSE SRC opened at $42.08 on Wednesday. Spirit Realty Capital, Inc. has a one year low of $34.31 and a one year high of $49.94. The stock has a 50-day moving average of $38.21 and a 200 day moving average of $40.05. The company has a market capitalization of $5.88 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 9.13 and a beta of 1.24. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.74 and a current ratio of 0.74.

Spirit Realty Capital Dividend Announcement

The firm also recently disclosed 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 yield of 6.30%. Spirit Realty Capital’s payout ratio is 139.47%.

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.

See Also

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

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