Boston Partners Cuts Stock Holdings in Spirit Realty Capital, Inc. (NYSE:SRC)

Boston Partners lowered its stake in shares of Spirit Realty Capital, Inc. (NYSE:SRC) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 688,627 shares of the real estate investment trust’s stock after selling 617 shares during the quarter. Boston Partners owned 0.49% of Spirit Realty Capital worth $27,132,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Money Concepts Capital Corp purchased a new position in Spirit Realty Capital in the fourth quarter valued at $25,000. Northwestern Mutual Wealth Management Co. purchased a new position in Spirit Realty Capital in the fourth quarter valued at $42,000. Covestor Ltd increased its holdings 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 buying an additional 956 shares during the last quarter. Belpointe Asset Management LLC increased its holdings in Spirit Realty Capital by 23.1% in the first quarter. Belpointe Asset Management LLC now owns 1,712 shares of the real estate investment trust’s stock valued at $68,000 after buying an additional 321 shares during the last quarter. Finally, Harbour Investments Inc. increased its holdings in Spirit Realty Capital by 34.5% in the first quarter. Harbour Investments Inc. now owns 1,910 shares of the real estate investment trust’s stock valued at $76,000 after buying an additional 490 shares during the last quarter. Hedge funds and other institutional investors own 96.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SRC. Stifel Nicolaus increased their target price on 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 price objective on shares of Spirit Realty Capital from $40.00 to $43.00 and gave the company a “sector perform” rating in a research note on Friday, November 3rd. 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. JPMorgan Chase & Co. decreased their price objective on shares of Spirit Realty Capital from $47.00 to $44.00 and set an “overweight” rating for the company in a research note on Wednesday, September 20th. Finally, Wells Fargo & Company assumed coverage on shares of Spirit Realty Capital in a research note on Wednesday, September 20th. They issued an “underweight” rating and a $36.00 price objective for the company. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $41.67.

Spirit Realty Capital Price Performance

Shares of SRC opened at $40.33 on Friday. Spirit Realty Capital, Inc. has a fifty-two week low of $32.22 and a fifty-two week high of $44.65. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of 23.05 and a beta of 1.27. The firm has a 50-day simple moving average of $35.46 and a 200-day simple moving average of $37.95. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.80 and a current ratio of 0.80.

Spirit Realty Capital 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.