United Services Automobile Association Purchases 1,109 Shares of Spirit Realty Capital, Inc. (NYSE:SRC)

United Services Automobile Association lifted its stake in shares of Spirit Realty Capital, Inc. (NYSE:SRC – Get Rating) by 8.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,769 shares of the real estate investment trust’s stock after purchasing an additional 1,109 shares during the period. United Services Automobile Association’s holdings in Spirit Realty Capital were worth $533,000 at the end of the most recent quarter.

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

Spirit Realty Capital Price Performance

Shares of NYSE SRC opened at $39.64 on Wednesday. Spirit Realty Capital, Inc. has a fifty-two week low of $34.31 and a fifty-two week high of $48.24. The stock has a fifty day moving average of $42.23 and a 200-day moving average of $40.41. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.15 and a current ratio of 0.15. The stock has a market cap of $5.60 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 5.89 and a beta of 1.27.

Spirit Realty Capital Announces Dividend

The company also recently disclosed 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. This represents a $2.65 dividend on an annualized basis and a dividend yield of 6.69%. The ex-dividend date of this dividend is Thursday, March 30th. Spirit Realty Capital’s payout ratio is currently 129.90%.

Analyst Upgrades and Downgrades

SRC has been the topic of a number of recent analyst reports. Mizuho boosted their target price on Spirit Realty Capital from $37.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, December 8th. Oppenheimer reissued a “market perform” rating and set a $38.00 target price on shares of Spirit Realty Capital in a report on Tuesday, March 7th. Truist Financial decreased their target price on Spirit Realty Capital from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, December 2nd. Finally, Raymond James lowered Spirit Realty Capital from an “outperform” rating to a “market perform” rating in a report on Monday, January 9th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.