StockNews.com Begins Coverage on Spirit Realty Capital (NYSE:SRC)

StockNews.com started coverage on shares of Spirit Realty Capital (NYSE:SRC) in a report released on Thursday. The firm issued a hold rating on the real estate investment trust’s stock.

Other equities analysts also recently issued research reports about the stock. Truist Financial decreased their price objective on shares of Spirit Realty Capital from $46.00 to $45.00 in a research note on Wednesday, August 30th. Stifel Nicolaus upped their target price on shares of Spirit Realty Capital from $45.50 to $46.00 and gave the company a buy rating in a report on Tuesday, August 8th. Royal Bank of Canada upped their target price on shares of Spirit Realty Capital from $40.00 to $43.00 and gave the company a sector perform rating in a report on Friday, November 3rd. JPMorgan Chase & Co. reduced their target price on shares of Spirit Realty Capital from $47.00 to $44.00 and set an overweight rating for the company in a report on Wednesday, September 20th. Finally, Bank of America cut shares of Spirit Realty Capital from a neutral rating to an underperform rating and reduced their target price for the company from $42.00 to $33.00 in a report on Tuesday, October 10th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Spirit Realty Capital has a consensus rating of Hold and an average price target of $41.67.

Spirit Realty Capital Stock Performance

NYSE SRC opened at $40.36 on Thursday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.80 and a quick ratio of 0.80. Spirit Realty Capital has a 1 year low of $32.22 and a 1 year high of $44.65. The company has a market capitalization of $5.70 billion, a PE ratio of 23.06 and a beta of 1.27. The company has a fifty day moving average of $35.34 and a two-hundred day moving average of $37.91.

Institutional Trading of Spirit Realty Capital

A number of hedge funds have recently bought and sold shares of the company. Toroso Investments LLC raised its stake in shares of Spirit Realty Capital by 3.2% in the 3rd quarter. Toroso Investments LLC now owns 9,467 shares of the real estate investment trust’s stock valued at $342,000 after acquiring an additional 296 shares during the period. Harbor Capital Advisors Inc. raised its stake in shares of Spirit Realty Capital by 9.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,680 shares of the real estate investment trust’s stock valued at $123,000 after acquiring an additional 314 shares during the period. CWM LLC raised its stake in shares of Spirit Realty Capital by 4.9% in the 1st quarter. CWM LLC now owns 6,848 shares of the real estate investment trust’s stock valued at $273,000 after acquiring an additional 319 shares during the period. Treasurer of the State of North Carolina raised its stake in shares of Spirit Realty Capital by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 61,882 shares of the real estate investment trust’s stock valued at $2,075,000 after acquiring an additional 320 shares during the period. Finally, Belpointe Asset Management LLC raised its stake in shares of Spirit Realty Capital by 23.1% in the 1st quarter. Belpointe Asset Management LLC now owns 1,712 shares of the real estate investment trust’s stock valued at $68,000 after acquiring an additional 321 shares during the period. Institutional investors and hedge funds own 96.09% of the company’s stock.

Spirit Realty Capital Company Profile

Spirit Realty Capital, Inc (NYSE: SRC) is a premier net-lease REIT that primarily invests in single-tenant, operationally essential real estate assets, subject to long-term leases. As of June 30, 2023, our diverse portfolio consisted of 2,064 retail, industrial and other properties across 49 states, which were leased to 345 tenants operating in 37 industries.