Spirit Realty Capital, Inc. (NYSE:SRC) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Friday.
SRC has been the subject of several other reports. FBR & Co boosted their target price on shares of Spirit Realty Capital from $8.00 to $13.00 and gave the company an “outperform” rating in a research report on Friday, May 5th. J P Morgan Chase & Co lowered shares of Spirit Realty Capital from an “overweight” rating to a “neutral” rating and cut their target price for the company from $13.00 to $9.00 in a research report on Thursday, May 4th. Sandler O’Neill lowered shares of Spirit Realty Capital from a “buy” rating to a “hold” rating and cut their target price for the company from $13.00 to $9.00 in a research report on Thursday, May 4th. UBS AG lowered shares of Spirit Realty Capital from a “buy” rating to a “neutral” rating and cut their target price for the company from $12.00 to $9.00 in a research report on Thursday, May 4th. Finally, Zacks Investment Research lowered shares of Spirit Realty Capital from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 17th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. Spirit Realty Capital presently has a consensus rating of “Hold” and an average target price of $11.53.
Spirit Realty Capital (NYSE:SRC) opened at 7.71 on Friday. Spirit Realty Capital has a 52-week low of $6.64 and a 52-week high of $13.97. The stock’s 50 day moving average is $7.44 and its 200-day moving average is $9.61. The company has a market capitalization of $3.73 billion, a P/E ratio of 42.83 and a beta of 0.53.
Spirit Realty Capital (NYSE:SRC) last announced its earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by $0.02. The business had revenue of $163.19 million for the quarter, compared to the consensus estimate of $169.84 million. Spirit Realty Capital had a net margin of 13.28% and a return on equity of 2.10%. Analysts predict that Spirit Realty Capital will post $0.22 EPS for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: “BidaskClub Upgrades Spirit Realty Capital, Inc. (NYSE:SRC) to Hold” was first reported by Transcript Daily and is the sole property of of Transcript Daily. If you are viewing this piece on another site, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this piece can be viewed at https://transcriptdaily.com/2017/07/18/bidaskclub-upgrades-spirit-realty-capital-inc-nysesrc-to-hold.html.
In other Spirit Realty Capital news, EVP Boyd Messmann purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The shares were bought at an average price of $7.19 per share, with a total value of $71,900.00. Following the completion of the purchase, the executive vice president now directly owns 73,656 shares in the company, valued at $529,586.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jackson Hsieh purchased 13,700 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The shares were acquired at an average cost of $7.27 per share, for a total transaction of $99,599.00. Following the purchase, the insider now owns 546,053 shares of the company’s stock, valued at $3,969,805.31. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 43,800 shares of company stock valued at $321,378. 0.50% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Comerica Bank increased its stake in Spirit Realty Capital by 87.6% in the fourth quarter. Comerica Bank now owns 38,087 shares of the real estate investment trust’s stock worth $419,000 after buying an additional 17,782 shares during the last quarter. AQR Capital Management LLC increased its stake in Spirit Realty Capital by 74.3% in the fourth quarter. AQR Capital Management LLC now owns 301,218 shares of the real estate investment trust’s stock worth $3,271,000 after buying an additional 128,389 shares during the last quarter. Numeric Investors LLC acquired a new stake in Spirit Realty Capital during the fourth quarter worth about $645,000. Norges Bank acquired a new stake in Spirit Realty Capital during the fourth quarter worth about $41,964,000. Finally, Financial & Investment Management Group Ltd. acquired a new stake in Spirit Realty Capital during the first quarter worth about $4,797,000. 99.68% of the stock is currently owned by institutional investors.
About Spirit Realty Capital
Spirit Realty Capital, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company’s operations are carried out through Spirit Realty, L.P. (the Operating Partnership). The Company invests in single-tenant, operationally essential real estate throughout the United States that is leased on a long-term, triple-net basis primarily to tenants engaged in retail, service and distribution industries.
Receive News & Ratings for Spirit Realty Capital Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit Realty Capital Inc. and related companies with MarketBeat.com's FREE daily email newsletter.