Oppenheimer Asset Management Inc. increased its stake in shares of Spirit Realty Capital Inc (NYSE:SRC) by 46.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 16,658 shares of the real estate investment trust’s stock after acquiring an additional 5,319 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Spirit Realty Capital were worth $797,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Comerica Bank acquired a new position in shares of Spirit Realty Capital during the 3rd quarter valued at about $2,577,000. California Public Employees Retirement System increased its holdings in shares of Spirit Realty Capital by 17.5% during the 3rd quarter. California Public Employees Retirement System now owns 191,046 shares of the real estate investment trust’s stock valued at $9,143,000 after acquiring an additional 28,518 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Spirit Realty Capital by 25.4% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 123,446 shares of the real estate investment trust’s stock valued at $5,908,000 after acquiring an additional 25,034 shares during the last quarter. Retirement Systems of Alabama acquired a new position in shares of Spirit Realty Capital during the 3rd quarter valued at about $13,010,000. Finally, BB&T Securities LLC increased its holdings in shares of Spirit Realty Capital by 20.0% during the 3rd quarter. BB&T Securities LLC now owns 15,914 shares of the real estate investment trust’s stock valued at $763,000 after acquiring an additional 2,652 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently commented on SRC. Liberum Capital increased their price objective on Spirit Realty Capital from $63.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Zacks Investment Research lowered Spirit Realty Capital from a “hold” rating to a “sell” rating in a report on Thursday, October 24th. Morgan Stanley increased their price objective on Spirit Realty Capital from $49.00 to $51.00 and gave the company an “overweight” rating in a report on Tuesday, September 17th. Stifel Nicolaus began coverage on Spirit Realty Capital in a report on Thursday, August 29th. They set a “buy” rating and a $51.50 price objective on the stock. Finally, JPMorgan Chase & Co. raised Spirit Realty Capital from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $50.00 to $52.00 in a report on Tuesday, October 8th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $50.25.
SRC opened at $49.34 on Friday. The firm has a market capitalization of $4.43 billion, a P/E ratio of 13.05 and a beta of 0.36. The stock’s 50 day moving average price is $48.58 and its two-hundred day moving average price is $45.34. The company has a quick ratio of 0.36, a current ratio of 2.89 and a debt-to-equity ratio of 0.66. Spirit Realty Capital Inc has a 12-month low of $33.86 and a 12-month high of $50.97.
Spirit Realty Capital (NYSE:SRC) last released its earnings results on Tuesday, November 5th. The real estate investment trust reported $0.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.65. The firm had revenue of $167.00 million for the quarter, compared to analyst estimates of $113.15 million. Spirit Realty Capital had a return on equity of 8.03% and a net margin of 42.82%. The company’s revenue was up 52.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 EPS. As a group, analysts anticipate that Spirit Realty Capital Inc will post 3.14 earnings per share for the current year.
The firm also recently announced a — dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.625 dividend. This represents a yield of 5.3%. The ex-dividend date was Friday, September 27th. Spirit Realty Capital’s dividend payout ratio (DPR) is currently 66.14%.
Spirit Realty Capital 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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