Spirit Realty Capital, Inc. (NYSE:SRC) Shares Sold by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC reduced its stake in shares of Spirit Realty Capital, Inc. (NYSE:SRC) by 15.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,409 shares of the real estate investment trust’s stock after selling 964 shares during the period. Checchi Capital Advisers LLC’s holdings in Spirit Realty Capital were worth $213,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Money Concepts Capital Corp acquired a new stake in shares of Spirit Realty Capital during the fourth quarter worth $25,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Spirit Realty Capital during the fourth quarter worth $42,000. Covestor Ltd raised its holdings in shares of Spirit Realty Capital by 255.6% during 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. Belpointe Asset Management LLC raised its holdings in shares of Spirit Realty Capital by 23.1% during the first quarter. Belpointe Asset Management LLC now owns 1,712 shares of the real estate investment trust’s stock worth $68,000 after purchasing an additional 321 shares during the last quarter. Finally, Harbour Investments Inc. raised its holdings in shares of Spirit Realty Capital by 34.5% during the first quarter. Harbour Investments Inc. now owns 1,910 shares of the real estate investment trust’s stock worth $76,000 after purchasing an additional 490 shares during the last quarter. 96.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SRC has been the subject of several recent research reports. Wells Fargo & Company initiated coverage on shares of Spirit Realty Capital in a report on Wednesday, September 20th. They set an “underweight” rating and a $36.00 target price for the company. Royal Bank of Canada raised their target price on shares of Spirit Realty Capital from $40.00 to $43.00 and gave the stock a “sector perform” rating in a report on Friday, November 3rd. Mizuho raised their target price on shares of Spirit Realty Capital from $40.00 to $41.00 in a report on Thursday, August 10th. BNP Paribas raised shares of Spirit Realty Capital from an “underperform” rating to a “neutral” rating and set a $46.00 target price for the company in a report on Tuesday, November 7th. 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 stock from $42.00 to $33.00 in a report on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $41.67.

Spirit Realty Capital Stock Down 0.1 %

SRC opened at $40.33 on Friday. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of 23.05 and a beta of 1.27. The company has a fifty day moving average of $35.46 and a two-hundred day 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, Inc. has a fifty-two week low of $32.22 and a fifty-two week high of $44.65.

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.