$0.60 EPS Expected for Spirit Realty Capital Inc (NYSE:SRC) This Quarter

Analysts expect Spirit Realty Capital Inc (NYSE:SRC) to announce earnings of $0.60 per share for the current quarter, Zacks reports. Seven analysts have issued estimates for Spirit Realty Capital’s earnings, with the highest EPS estimate coming in at $0.73 and the lowest estimate coming in at $0.34. Spirit Realty Capital reported earnings per share of $0.86 in the same quarter last year, which suggests a negative year over year growth rate of 30.2%. The company is expected to report its next earnings results on Friday, July 31st.

On average, analysts expect that Spirit Realty Capital will report full-year earnings of $2.79 per share for the current year, with EPS estimates ranging from $2.42 to $2.98. For the next year, analysts forecast that the firm will post earnings of $3.01 per share, with EPS estimates ranging from $2.84 to $3.33. Zacks’ EPS averages are a mean average based on a survey of analysts that follow Spirit Realty Capital.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.93). The company had revenue of $121.36 million for the quarter, compared to analysts’ expectations of $122.40 million. Spirit Realty Capital had a return on equity of 3.75% and a net margin of 22.00%. During the same period last year, the company posted $0.86 EPS.

SRC has been the topic of a number of recent research reports. Jefferies Financial Group initiated coverage on Spirit Realty Capital in a report on Monday, June 29th. They set a “buy” rating and a $43.00 price objective on the stock. Zacks Investment Research cut 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 lowered their price target 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, Deutsche Bank raised their price target on Spirit Realty Capital from $41.00 to $42.00 and gave the company a “hold” rating in a report on Monday, July 27th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $44.60.

Shares of SRC opened at $34.46 on Friday. The stock’s 50-day simple moving average is $34.30 and its 200 day simple moving average is $36.81. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 10.68 and a beta of 1.09. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.99 and a current ratio of 1.99. Spirit Realty Capital has a 52-week low of $18.37 and a 52-week high of $54.63.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.625 per share. The ex-dividend date of this dividend was Monday, June 29th. This represents a $2.50 annualized dividend and a yield of 7.25%. Spirit Realty Capital’s payout ratio is 74.85%.

Several hedge funds have recently modified their holdings of the company. State Street Corp grew its position in shares of Spirit Realty Capital by 16.5% in the 1st quarter. State Street Corp now owns 3,808,765 shares of the real estate investment trust’s stock worth $101,874,000 after buying an additional 540,585 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Spirit Realty Capital by 31.8% in 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. Geode Capital Management LLC lifted its stake in shares of Spirit Realty Capital by 16.1% in the 4th quarter. Geode Capital Management LLC now owns 1,423,807 shares of the real estate investment trust’s stock valued at $70,013,000 after purchasing an additional 197,269 shares during the period. Cbre Clarion Securities LLC lifted its stake in shares of Spirit Realty Capital by 169.3% in 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 purchasing an additional 843,712 shares during the period. Finally, Norges Bank purchased a new position in shares of Spirit Realty Capital in the 4th quarter valued at approximately $61,001,000. Hedge funds and other institutional investors own 93.92% of the company’s stock.

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.

Featured Article: Do equity income investments outperform growth and income investments?

Get a free copy of the Zacks research report on Spirit Realty Capital (SRC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Spirit Realty Capital (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.