Stock analysts at Jefferies Financial Group assumed coverage on shares of Spirit Realty Capital (NYSE:SRC) in a note issued to investors on Monday, MarketBeat Ratings reports. The firm set a “buy” rating and a $43.00 price target on the real estate investment trust’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 23.35% from the company’s previous close.
Other equities research analysts have also issued research reports about the company. Mizuho raised their price objective on Spirit Realty Capital from $30.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Zacks Investment Research downgraded Spirit Realty Capital from a “buy” rating to a “hold” rating in a report on Friday, April 3rd. Raymond James raised Spirit Realty Capital from an “underperform” rating to a “market perform” rating in a report on Thursday, June 11th. Royal Bank of Canada reduced their target price on Spirit Realty Capital from $43.00 to $33.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 22nd. Finally, ValuEngine raised Spirit Realty Capital from a “strong sell” rating to a “sell” rating in a report on Thursday, April 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $45.50.
Shares of NYSE SRC opened at $34.86 on Monday. Spirit Realty Capital has a fifty-two week low of $18.37 and a fifty-two week high of $54.63. The business has a 50 day moving average price of $32.30 and a two-hundred day moving average price of $39.21. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.80. The firm has a market cap of $3.54 billion, a PE ratio of 29.05 and a beta of 1.08.
Spirit Realty Capital (NYSE:SRC) last issued its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.93). Spirit Realty Capital had a net margin of 22.00% and a return on equity of 3.75%. The business had revenue of $121.36 million for the quarter, compared to analyst estimates of $122.40 million. During the same quarter last year, the business earned $0.86 EPS. On average, analysts anticipate that Spirit Realty Capital will post 2.57 earnings per share for the current year.
In other Spirit Realty Capital news, CEO Jackson Hsieh bought 10,200 shares of the business’s stock in a transaction on Tuesday, April 14th. The shares were purchased at an average price of $29.31 per share, with a total value of $298,962.00. Following the purchase, the chief executive officer now directly owns 255,843 shares of the company’s stock, valued at $7,498,758.33. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jay Young bought 2,500 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were acquired at an average cost of $25.99 per share, for a total transaction of $64,975.00. Following the purchase, the executive vice president now directly owns 27,746 shares in the company, valued at $721,118.54. The disclosure for this purchase can be found here.
A number of institutional investors have recently made changes to their positions in SRC. Norges Bank bought a new stake in Spirit Realty Capital during the 4th quarter valued at $61,001,000. Cbre Clarion Securities LLC raised its stake in Spirit Realty Capital by 169.3% during the 1st quarter. Cbre Clarion Securities LLC now owns 1,342,163 shares of the real estate investment trust’s stock valued at $35,098,000 after acquiring an additional 843,712 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Spirit Realty Capital by 31.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,890,498 shares of the real estate investment trust’s stock valued at $75,588,000 after purchasing an additional 697,971 shares during the period. State Street Corp increased its position in shares of Spirit Realty Capital by 16.5% during the 1st quarter. State Street Corp now owns 3,808,765 shares of the real estate investment trust’s stock valued at $101,874,000 after purchasing an additional 540,585 shares during the period. Finally, Janus Henderson Group PLC increased its position in shares of Spirit Realty Capital by 63.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,171,975 shares of the real estate investment trust’s stock valued at $30,599,000 after purchasing an additional 455,290 shares during the period. 94.11% of the stock is currently owned by hedge funds and other institutional investors.
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.
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