Commonwealth Equity Services LLC Cuts Stock Holdings in Spirit Realty Capital, Inc. (NYSE:SRC)

Commonwealth Equity Services LLC decreased its stake in shares of Spirit Realty Capital, Inc. (NYSE:SRC – Get Rating) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,512 shares of the real estate investment trust’s stock after selling 384 shares during the period. Commonwealth Equity Services LLC’s holdings in Spirit Realty Capital were worth $739,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Concord Wealth Partners purchased a new position in Spirit Realty Capital in the fourth quarter worth $56,000. Covestor Ltd boosted its position 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 worth $61,000 after purchasing an additional 956 shares during the last quarter. Captrust Financial Advisors purchased a new position in Spirit Realty Capital in the second quarter worth $78,000. Allspring Global Investments Holdings LLC boosted its position in Spirit Realty Capital by 26.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,554 shares of the real estate investment trust’s stock worth $92,000 after purchasing an additional 530 shares during the last quarter. Finally, Signaturefd LLC boosted its position in Spirit Realty Capital by 12.4% in 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 during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Spirit Realty Capital Price Performance

Shares of NYSE SRC opened at $38.93 on Thursday. The firm has a market capitalization of $5.50 billion, a P/E ratio of 17.07, a P/E/G ratio of 5.99 and a beta of 1.27. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.82. The stock’s 50-day simple moving average is $38.44 and its two-hundred day simple moving average is $40.40. Spirit Realty Capital, Inc. has a twelve month low of $34.31 and a twelve month high of $44.93.

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

Spirit Realty Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 30th will be paid a $0.663 dividend. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $2.65 dividend on an annualized basis and a yield of 6.81%. Spirit Realty Capital’s dividend payout ratio is currently 116.23%.

Analysts Set New Price Targets

SRC has been the topic of several research analyst reports. Oppenheimer reissued a “market perform” rating and issued a $38.00 price objective on shares of Spirit Realty Capital in a research report on Tuesday, March 7th. JMP Securities dropped their price target on 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 Spirit Realty Capital in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Stifel Nicolaus dropped their price target on Spirit Realty Capital from $48.00 to $45.50 in a research report on Thursday, May 4th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Spirit Realty Capital has a consensus rating of “Hold” and an average price target of $43.15.

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.