Wall Street analysts expect Spirit Realty Capital Inc (NYSE:SRC) to post $0.83 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Spirit Realty Capital’s earnings, with the lowest EPS estimate coming in at $0.82 and the highest estimate coming in at $0.84. Spirit Realty Capital reported earnings per share of $1.10 during the same quarter last year, which suggests a negative year over year growth rate of 24.5%. The firm is scheduled to report its next earnings report on Tuesday, May 7th.
According to Zacks, analysts expect that Spirit Realty Capital will report full-year earnings of $3.34 per share for the current fiscal year, with EPS estimates ranging from $3.29 to $3.36. For the next financial year, analysts anticipate that the business will post earnings of $3.17 per share, with EPS estimates ranging from $3.05 to $3.28. Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Spirit Realty Capital.
Spirit Realty Capital (NYSE:SRC) last announced its earnings results on Wednesday, February 20th. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.04. Spirit Realty Capital had a net margin of 26.05% and a return on equity of 5.16%. The business had revenue of $129.48 million for the quarter, compared to analyst estimates of $107.01 million. During the same quarter last year, the business earned $1.06 earnings per share. The company’s revenue for the quarter was up 20.6% compared to the same quarter last year.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Spirit Realty Capital from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. ValuEngine upgraded shares of Spirit Realty Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, December 5th. Mizuho upgraded shares of Spirit Realty Capital to a “buy” rating and set a $42.00 price target on the stock in a research report on Wednesday, January 23rd. Finally, Raymond James lowered shares of Spirit Realty Capital from a “market perform” rating to an “underperform” rating in a research report on Thursday, December 6th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $42.38.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Cohen & Steers Inc. boosted its position in Spirit Realty Capital by 106.0% during the third quarter. Cohen & Steers Inc. now owns 6,095,107 shares of the real estate investment trust’s stock worth $49,127,000 after acquiring an additional 3,136,863 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd raised its stake in Spirit Realty Capital by 129.0% during the fourth quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 501,501 shares of the real estate investment trust’s stock worth $17,677,000 after purchasing an additional 282,497 shares during the period. Mackenzie Financial Corp purchased a new position in Spirit Realty Capital during the third quarter worth about $8,215,000. We Are One Seven LLC purchased a new position in Spirit Realty Capital during the fourth quarter worth about $29,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Spirit Realty Capital during the third quarter worth about $10,827,000. Hedge funds and other institutional investors own 91.16% of the company’s stock.
Shares of NYSE SRC traded up $0.08 during trading on Wednesday, hitting $39.84. The company had a trading volume of 1,297,300 shares, compared to its average volume of 937,481. Spirit Realty Capital has a fifty-two week low of $33.86 and a fifty-two week high of $44.20. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of 10.54 and a beta of 0.53. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.78.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be given a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, March 28th. This is a positive change from Spirit Realty Capital’s previous quarterly dividend of $0.13. This represents a $2.50 dividend on an annualized basis and a yield of 6.28%. Spirit Realty Capital’s payout ratio is presently 66.14%.
Spirit Realty Capital Company Profile
Spirit Realty Capital, Inc (NYSE: SRC) is a premier net-lease REIT that primarily invests in high-quality, operationally essential real estate, subject to long-term net leases. Over the past decade, Spirit has become an industry leader and owner of income-producing, strategically located retail, industrial, office and data center properties.
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