Spirit Realty Capital (NYSE:SRC) Lowered to Market Perform at Raymond James

Raymond James cut shares of Spirit Realty Capital (NYSE:SRC – Get Rating) from an outperform rating to a market perform rating in a research report released on Monday morning, The Fly reports.

A number of other analysts also recently weighed in on the stock. Bank of America downgraded shares of Spirit Realty Capital from a buy rating to a neutral rating and raised their price target for the stock from $42.00 to $43.00 in a research report on Monday, November 14th. StockNews.com assumed coverage on shares of Spirit Realty Capital in a research report on Wednesday, October 12th. They set a hold rating for the company. Mizuho raised their price target on shares of Spirit Realty Capital from $37.00 to $42.00 and gave the stock a neutral rating in a research report on Thursday, December 8th. Oppenheimer began coverage on shares of Spirit Realty Capital in a research report on Wednesday, October 19th. They set a market perform rating and a $37.00 price target for the company. Finally, Truist Financial decreased their price objective on shares of Spirit Realty Capital from $52.00 to $50.00 and set a buy rating for the company in a report on Friday, December 2nd. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $44.70.

Spirit Realty Capital Trading Down 0.1 %

SRC opened at $40.43 on Monday. The firm has a market capitalization of $5.65 billion, a P/E ratio of 21.28, a P/E/G ratio of 6.05 and a beta of 1.22. The firm’s 50 day moving average is $40.39 and its 200-day moving average is $40.21. Spirit Realty Capital has a 52-week low of $34.31 and a 52-week high of $49.94. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.81.

Spirit Realty Capital (NYSE:SRC – Get Rating) last posted its quarterly earnings data on Tuesday, November 8th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.32). Spirit Realty Capital had a net margin of 37.70% and a return on equity of 6.16%. The firm had revenue of $180.30 million for the quarter, compared to analysts’ expectations of $179.54 million. Analysts expect that Spirit Realty Capital will post 3.44 EPS for the current fiscal year.

Spirit Realty Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Friday, December 30th will be paid a $0.663 dividend. This represents a $2.65 dividend on an annualized basis and a yield of 6.56%. The ex-dividend date of this dividend is Thursday, December 29th. Spirit Realty Capital’s payout ratio is 139.47%.

Insider Buying and Selling at Spirit Realty Capital

In related news, Director Richard I. Gilchrist bought 6,000 shares of the business’s stock in a transaction on Thursday, December 1st. The shares were bought at an average cost of $41.91 per share, for a total transaction of $251,460.00. Following the completion of the purchase, the director now owns 44,409 shares of the company’s stock, valued at approximately $1,861,181.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.58% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Spirit Realty Capital

A number of hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC lifted its stake in Spirit Realty Capital by 24.5% in the second quarter. Parallel Advisors LLC now owns 1,230 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 242 shares during the last quarter. Barclays PLC raised its stake in shares of Spirit Realty Capital by 0.6% during the third quarter. Barclays PLC now owns 52,703 shares of the real estate investment trust’s stock valued at $1,906,000 after purchasing an additional 292 shares in the last quarter. Toroso Investments LLC raised its stake in shares of Spirit Realty Capital by 3.2% during the third quarter. Toroso Investments LLC now owns 9,467 shares of the real estate investment trust’s stock valued at $342,000 after purchasing an additional 296 shares in the last quarter. State of Michigan Retirement System raised its stake in shares of Spirit Realty Capital by 0.9% during the third quarter. State of Michigan Retirement System now owns 34,416 shares of the real estate investment trust’s stock valued at $1,244,000 after purchasing an additional 300 shares in the last quarter. Finally, Utah Retirement Systems raised its stake in shares of Spirit Realty Capital by 1.3% during the third quarter. Utah Retirement Systems now owns 23,893 shares of the real estate investment trust’s stock valued at $864,000 after purchasing an additional 300 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

Spirit Realty Capital Company Profile

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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.