First Trust Advisors LP Boosts Stock Holdings in Spirit Realty Capital, Inc. (NYSE:SRC)

First Trust Advisors LP lifted its stake in shares of Spirit Realty Capital, Inc. (NYSE:SRC – Get Rating) by 2.9% during the third quarter, Holdings Channel reports. The fund owned 188,665 shares of the real estate investment trust’s stock after acquiring an additional 5,287 shares during the period. First Trust Advisors LP’s holdings in Spirit Realty Capital were worth $6,822,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Barclays PLC increased its position 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 worth $1,906,000 after acquiring an additional 292 shares during the period. State of Michigan Retirement System increased its position 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 worth $1,244,000 after acquiring an additional 300 shares during the period. Ellevest Inc. grew its stake in shares of Spirit Realty Capital by 23.5% during the third quarter. Ellevest Inc. now owns 1,637 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 311 shares in the last quarter. Foundations Investment Advisors LLC grew its stake in shares of Spirit Realty Capital by 4.3% during the third quarter. Foundations Investment Advisors LLC now owns 7,737 shares of the real estate investment trust’s stock worth $280,000 after purchasing an additional 319 shares in the last quarter. Finally, Signaturefd LLC grew its stake in shares of Spirit Realty Capital by 12.4% during the third quarter. Signaturefd LLC now owns 3,042 shares of the real estate investment trust’s stock worth $110,000 after purchasing an additional 335 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Spirit Realty Capital Stock Performance

NYSE SRC opened at $39.89 on Tuesday. The company has a fifty day moving average of $42.23 and a two-hundred day moving average of $40.43. Spirit Realty Capital, Inc. has a 1 year low of $34.31 and a 1 year high of $48.24. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.15 and a quick ratio of 0.15. The company has a market capitalization of $5.64 billion, a PE ratio of 19.55, a P/E/G ratio of 5.89 and a beta of 1.27.

Spirit Realty Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Friday, March 31st will be issued a $0.663 dividend. The ex-dividend date is Thursday, March 30th. This represents a $2.65 dividend on an annualized basis and a dividend yield of 6.65%. Spirit Realty Capital’s payout ratio is 129.90%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SRC. Raymond James downgraded shares of Spirit Realty Capital from an “outperform” rating to a “market perform” rating in a research note on Monday, January 9th. Oppenheimer reiterated a “market perform” rating and set a $38.00 target price on shares of Spirit Realty Capital in a research note on Tuesday, March 7th. Truist Financial lowered their target price on shares of Spirit Realty Capital from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, December 2nd. Mizuho boosted their target price on shares of Spirit Realty Capital from $37.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, December 8th. Finally, Bank of America downgraded shares of Spirit Realty Capital from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $42.00 to $43.00 in a research note on Monday, November 14th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $43.89.

Spirit Realty Capital Profile

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Spirit Realty Capital, Inc operates as a holding company, which engages in investments in real estate. Its in-house capabilities include acquisition, portfolio management, asset management, credit research, real estate research, legal, finance, accounting, and capital markets. The company was founded on August 14, 2003, and is headquartered in Dallas, TX.