Bridgefront Capital LLC Invests $268,000 in Spirit Realty Capital, Inc. (NYSE:SRC)

Bridgefront Capital LLC bought a new position in shares of Spirit Realty Capital, Inc. (NYSE:SRC – Get Rating) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 7,416 shares of the real estate investment trust’s stock, valued at approximately $268,000.

Several other institutional investors and hedge funds have also made changes to their positions in SRC. CoreCap Advisors LLC purchased a new position in shares of Spirit Realty Capital during the second quarter valued at $28,000. First Personal Financial Services purchased a new position in shares of Spirit Realty Capital during the third quarter valued at $37,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in Spirit Realty Capital in the third quarter valued at about $43,000. Ellevest Inc. grew its stake in Spirit Realty Capital by 23.5% in the third quarter. Ellevest Inc. now owns 1,637 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 311 shares during the last quarter. Finally, Covestor Ltd grew its stake in Spirit Realty Capital by 255.6% in the first quarter. Covestor Ltd now owns 1,330 shares of the real estate investment trust’s stock valued at $61,000 after purchasing an additional 956 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SRC has been the topic of several analyst reports. StockNews.com initiated coverage on Spirit Realty Capital in a research note on Thursday. They issued a “hold” rating on the stock. Raymond James lowered Spirit Realty Capital from an “outperform” rating to a “market perform” rating in a research note on Monday, January 9th. Mizuho lifted their target price on Spirit Realty Capital from $37.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, December 8th. Oppenheimer reissued a “market perform” rating and issued a $38.00 price target on shares of Spirit Realty Capital in a report on Tuesday, March 7th. Finally, Truist Financial lowered their price target on 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 equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $43.89.

Spirit Realty Capital Trading Down 0.8 %

Shares of NYSE:SRC opened at $38.88 on Friday. The company has a market capitalization of $5.49 billion, a PE ratio of 19.06, a PEG ratio of 5.94 and a beta of 1.27. Spirit Realty Capital, Inc. has a 12-month low of $34.31 and a 12-month high of $48.24. The business has a 50 day moving average of $42.18 and a two-hundred day moving average of $40.39. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.81.

Spirit Realty Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Friday, March 31st will be given a $0.663 dividend. This represents a $2.65 dividend on an annualized basis and a dividend yield of 6.82%. The ex-dividend date is Thursday, March 30th. Spirit Realty Capital’s dividend payout ratio (DPR) is presently 129.90%.

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.