Nomura Asset Management Co. Ltd. lessened its stake in shares of Spirit Realty Capital Inc (NYSE:SRC) by 79.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 56,180 shares of the real estate investment trust’s stock after selling 214,720 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.07% of Spirit Realty Capital worth $1,980,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. We Are One Seven LLC purchased a new position in Spirit Realty Capital during the fourth quarter valued at approximately $29,000. Pension Partners LLC purchased a new position in Spirit Realty Capital during the third quarter valued at approximately $105,000. Campbell & CO Investment Adviser LLC purchased a new position in Spirit Realty Capital during the fourth quarter valued at approximately $554,000. Quantum Capital Management purchased a new position in Spirit Realty Capital during the fourth quarter valued at approximately $804,000. Finally, Bank of Montreal Can increased its holdings in Spirit Realty Capital by 805.2% during the fourth quarter. Bank of Montreal Can now owns 22,847 shares of the real estate investment trust’s stock valued at $805,000 after buying an additional 20,323 shares during the period. 90.40% of the stock is currently owned by institutional investors.
Several brokerages recently issued reports on SRC. Mizuho raised shares of Spirit Realty Capital to a “buy” rating and set a $42.00 price objective on the stock in a report on Wednesday, January 23rd. ValuEngine raised shares of Spirit Realty Capital from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 13th. Bank of America lowered shares of Spirit Realty Capital from a “neutral” rating to an “underperform” rating and set a $40.00 price target on the stock. in a report on Thursday, November 15th. Raymond James lowered shares of Spirit Realty Capital from a “market perform” rating to an “underperform” rating in a report on Thursday, December 6th. Finally, Zacks Investment Research lowered shares of Spirit Realty Capital from a “hold” rating to a “sell” rating in a report on Friday, December 7th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $42.38.
NYSE SRC opened at $37.71 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.51 and a current ratio of 0.51. Spirit Realty Capital Inc has a 12-month low of $33.86 and a 12-month high of $44.20. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 9.98 and a beta of 0.52.
Spirit Realty Capital (NYSE:SRC) last released its quarterly earnings results on Wednesday, February 20th. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, topping 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 period in the previous year, the company earned $1.06 earnings per share. The business’s revenue for the quarter was up 20.6% on a year-over-year basis. Sell-side analysts anticipate that Spirit Realty Capital Inc will post 3.25 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be issued a $0.625 dividend. This is a positive change from Spirit Realty Capital’s previous quarterly dividend of $0.13. This represents a $2.50 annualized dividend and a yield of 6.63%. The ex-dividend date of this dividend is Thursday, March 28th. Spirit Realty Capital’s payout ratio is currently 66.14%.
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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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