Massachusetts Financial Services Co. MA Decreases Stock Holdings in Spirit Realty Capital, Inc. (NYSE:SRC)

Massachusetts Financial Services Co. MA decreased its stake in Spirit Realty Capital, Inc. (NYSE:SRCFree Report) by 0.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,971,752 shares of the real estate investment trust’s stock after selling 7,028 shares during the period. Massachusetts Financial Services Co. MA owned 2.10% of Spirit Realty Capital worth $99,643,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Swiss National Bank grew its position in shares of Spirit Realty Capital by 0.9% during the third quarter. Swiss National Bank now owns 310,554 shares of the real estate investment trust’s stock worth $10,413,000 after acquiring an additional 2,900 shares during the last quarter. Amalgamated Bank grew its position in Spirit Realty Capital by 1.4% in the 3rd quarter. Amalgamated Bank now owns 93,286 shares of the real estate investment trust’s stock worth $3,128,000 after purchasing an additional 1,253 shares during the last quarter. Avantax Advisory Services Inc. increased its stake in shares of Spirit Realty Capital by 76.4% in the third quarter. Avantax Advisory Services Inc. now owns 8,996 shares of the real estate investment trust’s stock valued at $302,000 after purchasing an additional 3,895 shares during the period. Oppenheimer & Co. Inc. raised its holdings in shares of Spirit Realty Capital by 18.4% during the third quarter. Oppenheimer & Co. Inc. now owns 25,961 shares of the real estate investment trust’s stock valued at $870,000 after buying an additional 4,040 shares during the last quarter. Finally, Boston Partners boosted its position in shares of Spirit Realty Capital by 2.9% during the third quarter. Boston Partners now owns 708,276 shares of the real estate investment trust’s stock worth $23,976,000 after buying an additional 19,649 shares during the period. 96.09% of the stock is owned by institutional investors and hedge funds.

Spirit Realty Capital Trading Down 1.6 %

Spirit Realty Capital stock opened at $42.31 on Thursday. The firm has a market cap of $5.98 billion, a price-to-earnings ratio of 24.18 and a beta of 1.35. Spirit Realty Capital, Inc. has a 1 year low of $32.22 and a 1 year high of $45.60. The firm’s 50 day moving average price is $43.18 and its two-hundred day moving average price is $39.34. 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 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Thursday, December 28th were given a dividend of $0.67 per share. The ex-dividend date was Wednesday, December 27th. This is a positive change from Spirit Realty Capital’s previous quarterly dividend of $0.67. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.33%. Spirit Realty Capital’s payout ratio is 153.14%.

Wall Street Analyst Weigh In

Several research firms recently commented on SRC. BNP Paribas upgraded Spirit Realty Capital from an “underperform” rating to a “neutral” rating and set a $46.00 target price on the stock in a research report on Tuesday, November 7th. Mizuho lifted their price objective on shares of Spirit Realty Capital from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. TheStreet downgraded shares of Spirit Realty Capital from a “b-” rating to a “c+” rating in a report on Monday, October 16th. Royal Bank of Canada raised 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 research note on Friday, November 3rd. Finally, Janney Montgomery Scott lowered shares of Spirit Realty Capital from a “buy” rating to a “neutral” rating and set a $40.00 price target for the company. in a research note on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $41.91.

Get Our Latest Stock Analysis on Spirit Realty Capital

Spirit Realty Capital Company Profile

(Free Report)

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 September 30, 2023, our diverse portfolio consisted of 2,037 retail, industrial and other properties across 49 states, which were leased to 338 tenants operating in 37 industries.

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Institutional Ownership by Quarter for Spirit Realty Capital (NYSE:SRC)

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