Belpointe Asset Management LLC Invests $56,000 in Spirit Realty Capital, Inc. (NYSE:SRC)

Belpointe Asset Management LLC purchased a new position in Spirit Realty Capital, Inc. (NYSE:SRC – Get Rating) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,391 shares of the real estate investment trust’s stock, valued at approximately $56,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SRC. Covestor Ltd lifted its position in shares of Spirit Realty Capital by 255.6% during the 1st quarter. Covestor Ltd now owns 1,330 shares of the real estate investment trust’s stock valued at $61,000 after acquiring an additional 956 shares during the period. Concord Wealth Partners acquired a new position in shares of Spirit Realty Capital during the 4th quarter valued at $56,000. Captrust Financial Advisors acquired a new position in shares of Spirit Realty Capital during the 2nd quarter valued at $78,000. Allspring Global Investments Holdings LLC lifted its position in shares of Spirit Realty Capital by 26.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,554 shares of the real estate investment trust’s stock valued at $92,000 after acquiring an additional 530 shares during the period. Finally, Lazard Asset Management LLC lifted its position in shares of Spirit Realty Capital by 73.1% during the 1st quarter. Lazard Asset Management LLC now owns 2,578 shares of the real estate investment trust’s stock valued at $118,000 after acquiring an additional 1,089 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SRC shares. JMP Securities dropped their target price on shares of Spirit Realty Capital from $49.00 to $45.00 and set a “market outperform” rating on the stock in a research report on Tuesday, March 21st. StockNews.com assumed coverage on shares of Spirit Realty Capital in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Stifel Nicolaus lowered their price objective on shares of Spirit Realty Capital from $48.00 to $45.50 in a report on Thursday, May 4th. Finally, Oppenheimer restated a “market perform” rating and set a $38.00 price objective on shares of Spirit Realty Capital in a report on Tuesday, March 7th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Spirit Realty Capital has an average rating of “Hold” and a consensus price target of $43.15.

Spirit Realty Capital Stock Performance

NYSE SRC opened at $39.31 on Tuesday. Spirit Realty Capital, Inc. has a 1 year low of $34.31 and a 1 year high of $44.93. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market cap of $5.55 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 5.93 and a beta of 1.27. The company has a fifty day moving average price of $38.47 and a 200-day moving average price of $40.39.

Spirit Realty Capital (NYSE:SRC – Get Rating) last posted its earnings results on Tuesday, February 28th. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.38). Spirit Realty Capital had a return on equity of 7.42% and a net margin of 44.28%. The firm had revenue of $183.39 million during the quarter, compared to the consensus estimate of $184.95 million. As a group, equities research analysts predict that Spirit Realty Capital, Inc. will post 3.44 EPS for the current fiscal year.

Spirit Realty Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be given a dividend of $0.663 per share. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $2.65 annualized dividend and a yield of 6.75%. Spirit Realty Capital’s payout ratio is currently 116.23%.

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.