Oppenheimer & Co. Inc. grew its holdings in shares of Spirit Realty Capital, Inc. (NYSE:SRC – Free Report) by 18.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,961 shares of the real estate investment trust’s stock after buying an additional 4,040 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Spirit Realty Capital were worth $870,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in SRC. Deutsche Bank AG raised its position in shares of Spirit Realty Capital by 6,354.9% during the 1st quarter. Deutsche Bank AG now owns 1,998,427 shares of the real estate investment trust’s stock valued at $79,617,000 after buying an additional 1,967,467 shares in the last quarter. Norges Bank purchased a new stake in Spirit Realty Capital in the 4th quarter worth about $56,606,000. State Street Corp raised its position in Spirit Realty Capital by 18.9% in the 1st quarter. State Street Corp now owns 7,032,313 shares of the real estate investment trust’s stock worth $327,982,000 after purchasing an additional 1,119,230 shares during the period. National Bank of Canada FI purchased a new stake in Spirit Realty Capital in the 3rd quarter worth about $32,125,000. Finally, Wellington Management Group LLP purchased a new stake in Spirit Realty Capital in the 1st quarter worth about $39,698,000. 96.09% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities analysts have recently commented on the stock. BNP Paribas raised shares of 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. JMP Securities downgraded shares of Spirit Realty Capital from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 31st. Royal Bank of Canada increased 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. StockNews.com assumed coverage on shares of Spirit Realty Capital in a research note on Sunday, February 4th. They set a “hold” rating on the stock. Finally, Mizuho increased 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $41.91.
Spirit Realty Capital Price Performance
Shares of SRC opened at $42.31 on Friday. The company 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 twelve month low of $32.22 and a twelve month high of $45.60. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.88. The company has a 50 day moving average of $43.21 and a two-hundred day moving average of $39.36.
Spirit Realty Capital Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Thursday, December 28th were issued a $0.67 dividend. The ex-dividend date of this dividend was Wednesday, December 27th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.33%. This is a boost from Spirit Realty Capital’s previous quarterly dividend of $0.67. Spirit Realty Capital’s dividend payout ratio (DPR) is currently 153.14%.
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 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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