$130.84 Million in Sales Expected for Spirit Realty Capital, Inc. (NYSE:SRC) This Quarter


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Wall Street analysts expect Spirit Realty Capital, Inc. (NYSE:SRC) to report $130.84 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Spirit Realty Capital’s earnings, with the lowest sales estimate coming in at $128.95 million and the highest estimate coming in at $132.83 million. Spirit Realty Capital posted sales of $121.36 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 7.8%. The company is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, May 5th.

According to Zacks, analysts expect that Spirit Realty Capital will report full-year sales of $548.46 million for the current year, with estimates ranging from $518.51 million to $561.80 million. For the next financial year, analysts anticipate that the company will post sales of $603.37 million, with estimates ranging from $524.63 million to $633.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Spirit Realty Capital.

Spirit Realty Capital (NYSE:SRC) last issued its quarterly earnings data on Thursday, February 18th. The real estate investment trust reported $0.24 EPS for the quarter, beating the consensus estimate of $0.18 by $0.06. Spirit Realty Capital had a net margin of 0.46% and a return on equity of 0.07%. The firm had revenue of $128.60 million during the quarter, compared to the consensus estimate of $118.87 million. During the same period in the prior year, the firm posted $0.76 earnings per share. The company’s quarterly revenue was up 5.9% compared to the same quarter last year.

SRC has been the subject of a number of research reports. Truist increased their price target on shares of Spirit Realty Capital from $43.00 to $48.00 in a research note on Monday, March 22nd. Raymond James raised their target price on shares of Spirit Realty Capital from $41.00 to $46.00 and gave the stock an “outperform” rating in a report on Tuesday, January 12th. UBS Group upgraded shares of Spirit Realty Capital from a “sell” rating to a “neutral” rating in a report on Thursday, March 4th. Truist Financial raised their target price on shares of Spirit Realty Capital from $39.00 to $43.00 in a report on Thursday, December 31st. Finally, Zacks Investment Research cut shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a report on Friday, March 19th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Spirit Realty Capital has a consensus rating of “Hold” and a consensus price target of $43.15.

SRC stock traded up $0.18 during trading on Wednesday, reaching $44.53. The company had a trading volume of 598,601 shares, compared to its average volume of 834,600. Spirit Realty Capital has a 52 week low of $23.88 and a 52 week high of $45.25. The company has a market cap of $5.12 billion, a P/E ratio of -556.56 and a beta of 1.17. The business has a 50 day moving average of $42.96 and a 200 day moving average of $38.95. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.88 and a quick ratio of 0.88.

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st were paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 5.61%. The ex-dividend date was Tuesday, March 30th. Spirit Realty Capital’s dividend payout ratio is presently 74.85%.

Hedge funds have recently made changes to their positions in the company. Concord Wealth Partners bought a new stake in shares of Spirit Realty Capital during the 4th quarter valued at $34,000. Patriot Financial Group Insurance Agency LLC raised its position in shares of Spirit Realty Capital by 37.9% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 1,780 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 489 shares during the period. Van ECK Associates Corp raised its position in shares of Spirit Realty Capital by 36.7% during the 4th quarter. Van ECK Associates Corp now owns 4,741 shares of the real estate investment trust’s stock valued at $190,000 after purchasing an additional 1,272 shares during the period. Telemus Capital LLC bought a new stake in shares of Spirit Realty Capital during the 4th quarter valued at $201,000. Finally, Sunbelt Securities Inc. bought a new stake in shares of Spirit Realty Capital during the 4th quarter valued at $201,000. Hedge funds and other institutional investors own 98.65% 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 September 30, 2020, our diverse portfolio of 1,778 owned properties, with an aggregate leasable area of 37.2 million square feet in 48 states, included retail, industrial and office buildings leased to 296 tenants across 28 retail industries.

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