Spirit Realty Capital (NYSE:SRC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Spirit Realty Capital, Inc. is a real estate investment trust. It acquires single tenant, operationally essential real estate where the tenants conduct retail, service or distribution activities. The Company has investments throughout the United States. Its portfolio of properties is leased to tenants operating in different industries which includes restaurants; general, specialty and discount retailers; movie theatres; education facilities; health, fitness and recreational facilities; automotive dealers, parts and service facilities; and supermarkets. Spirit Realty Capital, Inc. is based in Scottsdale, Arizona. “
Other research analysts have also recently issued reports about the stock. B. Riley reissued a “buy” rating on shares of Spirit Realty Capital in a research report on Friday, November 3rd. Mizuho set a $9.00 target price on shares of Spirit Realty Capital and gave the stock a “buy” rating in a research report on Sunday, October 22nd. Ladenburg Thalmann Financial Services reaffirmed a “hold” rating on shares of Spirit Realty Capital in a report on Monday, November 13th. Robert W. Baird cut shares of Spirit Realty Capital from an “outperform” rating to a “neutral” rating and cut their price target for the company from $10.00 to $9.00 in a report on Friday, November 10th. Finally, ValuEngine cut shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Spirit Realty Capital presently has an average rating of “Hold” and an average price target of $9.51.
Spirit Realty Capital (NYSE SRC) opened at $8.17 on Friday. Spirit Realty Capital has a 12-month low of $6.64 and a 12-month high of $11.29. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market cap of $3,824.98, a price-to-earnings ratio of 90.78 and a beta of 0.57.
A number of hedge funds have recently added to or reduced their stakes in SRC. Long Pond Capital LP increased its stake in Spirit Realty Capital by 101.0% during the third quarter. Long Pond Capital LP now owns 14,989,473 shares of the real estate investment trust’s stock valued at $128,460,000 after purchasing an additional 7,530,599 shares during the last quarter. V3 Capital Management L.P. increased its stake in Spirit Realty Capital by 96.9% during the second quarter. V3 Capital Management L.P. now owns 9,642,585 shares of the real estate investment trust’s stock valued at $71,452,000 after purchasing an additional 4,745,800 shares during the last quarter. Gruss Capital Management LP bought a new stake in Spirit Realty Capital during the second quarter valued at $35,012,000. Davidson Kempner Capital Management LP bought a new stake in Spirit Realty Capital during the second quarter valued at $30,863,000. Finally, Marathon Asset Management LP bought a new stake in Spirit Realty Capital during the third quarter valued at $26,267,000. Hedge funds and other institutional investors own 92.54% of the company’s stock.
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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.
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