BidaskClub Upgrades Spirit Realty Capital, Inc. (NYSE:SRC) to Hold

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.

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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.

Analyst Recommendations for Spirit Realty Capital (NYSE:SRC)

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