Spirit Realty Capital Inc (NYSE:SRC) was the recipient of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 2,350,000 shares, a decline of 25.4% from the January 15th total of 3,150,000 shares. Based on an average daily volume of 1,030,000 shares, the days-to-cover ratio is presently 2.3 days. Approximately 2.6% of the shares of the stock are short sold.
Shares of SRC stock traded up $0.53 on Friday, reaching $53.77. 470,400 shares of the stock were exchanged, compared to its average volume of 736,872. The stock has a market cap of $5.31 billion, a PE ratio of 22.04 and a beta of 0.41. Spirit Realty Capital has a one year low of $36.69 and a one year high of $54.63. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.89 and a quick ratio of 2.89. The stock has a 50 day moving average price of $51.28 and a 200 day moving average price of $49.13.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.625 per share. The ex-dividend date was Monday, December 30th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.65%. Spirit Realty Capital’s payout ratio is currently 66.14%.
Several equities analysts have issued reports on the company. Deutsche Bank lifted their price objective on Spirit Realty Capital from $52.00 to $56.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Bank of America upgraded Spirit Realty Capital from an “underperform” rating to a “neutral” rating in a research report on Monday, January 6th. Capital One Financial upgraded Spirit Realty Capital from an “equal weight” rating to an “overweight” rating and set a $56.00 price objective for the company in a research report on Tuesday, December 3rd. Stifel Nicolaus lifted their price objective on Spirit Realty Capital from $53.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Royal Bank of Canada lifted their price objective on Spirit Realty Capital from $46.00 to $52.00 and gave the company a “sector perform” rating in a research report on Tuesday, December 10th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $55.00.
Hedge funds have recently added to or reduced their stakes in the company. Coastal Investment Advisors Inc. acquired a new stake in shares of Spirit Realty Capital during the fourth quarter worth $26,000. Tower Research Capital LLC TRC acquired a new stake in shares of Spirit Realty Capital during the third quarter worth $27,000. Garrett Wealth Advisory Group LLC acquired a new stake in shares of Spirit Realty Capital during the third quarter worth $31,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Spirit Realty Capital during the fourth quarter worth $47,000. Finally, Pinnacle Financial Partners Inc. acquired a new stake in shares of Spirit Realty Capital during the fourth quarter worth $54,000. Institutional investors own 92.52% of the company’s stock.
Spirit Realty Capital Company 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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