Hsbc Holdings PLC boosted its stake in shares of Spirit Realty Capital Inc (NYSE:SRC) by 97.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 155,422 shares of the real estate investment trust’s stock after purchasing an additional 76,733 shares during the period. Hsbc Holdings PLC’s holdings in Spirit Realty Capital were worth $5,479,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of SRC. FMR LLC boosted its position in shares of Spirit Realty Capital by 4.0% during the 3rd quarter. FMR LLC now owns 57,715,627 shares of the real estate investment trust’s stock valued at $465,189,000 after acquiring an additional 2,204,308 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Spirit Realty Capital by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 7,584,421 shares of the real estate investment trust’s stock worth $61,127,000 after buying an additional 19,467 shares during the last quarter. LSV Asset Management lifted its position in Spirit Realty Capital by 5.3% in the third quarter. LSV Asset Management now owns 7,079,210 shares of the real estate investment trust’s stock worth $57,058,000 after buying an additional 355,110 shares during the last quarter. Cohen & Steers Inc. lifted its position in Spirit Realty Capital by 106.0% in the third quarter. Cohen & Steers Inc. now owns 6,095,107 shares of the real estate investment trust’s stock worth $49,127,000 after buying an additional 3,136,863 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in Spirit Realty Capital by 20.0% in the third quarter. Janus Henderson Group PLC now owns 2,823,094 shares of the real estate investment trust’s stock worth $22,767,000 after buying an additional 471,010 shares during the last quarter. 90.40% of the stock is owned by institutional investors.
A number of analysts recently issued reports on the company. ValuEngine upgraded Spirit Realty Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, December 5th. Zacks Investment Research downgraded Spirit Realty Capital from a “hold” rating to a “sell” rating in a research report on Friday, December 7th. Mizuho upgraded Spirit Realty Capital to a “buy” rating and set a $42.00 target price on the stock in a research note on Wednesday, January 23rd. Raymond James lowered Spirit Realty Capital from a “market perform” rating to an “underperform” rating in a research note on Thursday, December 6th. Finally, Bank of America lowered Spirit Realty Capital from a “neutral” rating to an “underperform” rating and set a $40.00 target price on the stock. in a research note on Thursday, November 15th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $42.38.
SRC stock 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 twelve month low of $33.86 and a twelve 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 announced its quarterly earnings results on Wednesday, February 20th. The real estate investment trust reported $0.84 EPS for the quarter, beating the consensus estimate of $0.80 by $0.04. Spirit Realty Capital had a return on equity of 5.16% and a net margin of 26.05%. The firm had revenue of $129.48 million for the quarter, compared to analyst estimates of $107.01 million. During the same quarter last year, the firm posted $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 predict that Spirit Realty Capital Inc will post 3.25 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be issued a dividend of $0.625 per share. This is an increase from Spirit Realty Capital’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, March 28th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 6.63%. Spirit Realty Capital’s payout ratio is 66.14%.
COPYRIGHT VIOLATION NOTICE: “Hsbc Holdings PLC Buys 76,733 Shares of Spirit Realty Capital Inc (SRC)” was published by Transcript Daily and is the sole property of of Transcript Daily. If you are accessing this piece of content on another publication, it was stolen and reposted in violation of United States and international trademark & copyright laws. The correct version of this piece of content can be read at https://transcriptdaily.com/2019/03/15/hsbc-holdings-plc-buys-76733-shares-of-spirit-realty-capital-inc-src.html.
About Spirit Realty Capital
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.
Read More: Systematic Risk and Investors
Want to see what other hedge funds are holding SRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spirit Realty Capital Inc (NYSE:SRC).
Receive News & Ratings for Spirit Realty Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit Realty Capital and related companies with MarketBeat.com's FREE daily email newsletter.