Meiji Yasuda Asset Management Co Ltd. Acquires 799 Shares of Spirit Realty Capital, Inc. (NYSE:SRC)

Meiji Yasuda Asset Management Co Ltd. lifted its holdings in Spirit Realty Capital, Inc. (NYSE:SRC – Get Rating) by 2.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 38,548 shares of the real estate investment trust’s stock after acquiring an additional 799 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Spirit Realty Capital were worth $1,394,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SRC. Raymond James & Associates lifted its holdings in shares of Spirit Realty Capital by 12.4% in the 1st quarter. Raymond James & Associates now owns 8,081 shares of the real estate investment trust’s stock worth $372,000 after acquiring an additional 893 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Spirit Realty Capital by 22.8% in the 1st quarter. US Bancorp DE now owns 11,549 shares of the real estate investment trust’s stock worth $530,000 after acquiring an additional 2,143 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Spirit Realty Capital by 6.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 19,492 shares of the real estate investment trust’s stock worth $897,000 after buying an additional 1,234 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Spirit Realty Capital in the first quarter worth $1,002,000. Finally, Rhumbline Advisers increased its stake in shares of Spirit Realty Capital by 0.4% in the first quarter. Rhumbline Advisers now owns 346,622 shares of the real estate investment trust’s stock worth $15,952,000 after buying an additional 1,256 shares during the period. 93.01% of the stock is currently owned by institutional investors.

Spirit Realty Capital Stock Performance

Shares of SRC stock opened at $39.64 on Wednesday. Spirit Realty Capital, Inc. has a one year low of $34.31 and a one year high of $48.24. The company’s 50-day moving average is $42.23 and its 200 day moving average is $40.41. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of 19.43, a price-to-earnings-growth ratio of 5.89 and a beta of 1.27. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.15 and a current ratio of 0.15.

Spirit Realty Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Friday, March 31st will be given a dividend of $0.663 per share. This represents a $2.65 annualized dividend and a yield of 6.69%. The ex-dividend date of this dividend is Thursday, March 30th. Spirit Realty Capital’s dividend payout ratio (DPR) is 129.90%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Mizuho lifted 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. Oppenheimer reaffirmed a “market perform” rating and issued a $38.00 target price on shares of Spirit Realty Capital in a research note on Tuesday, March 7th. Truist Financial decreased their target price on shares of Spirit Realty Capital from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, December 2nd. Finally, 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. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $43.89.

About Spirit Realty Capital

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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.