Goldentree Asset Management LP lessened its stake in shares of Spirit Realty Capital, Inc (NYSE:SRC) by 30.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 844,766 shares of the real estate investment trust’s stock after selling 378,000 shares during the quarter. Spirit Realty Capital comprises approximately 0.8% of Goldentree Asset Management LP’s holdings, making the stock its 21st largest position. Goldentree Asset Management LP’s holdings in Spirit Realty Capital were worth $7,248,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in SRC. Centaurus Financial Inc. bought a new stake in Spirit Realty Capital during the 4th quarter valued at approximately $101,000. Brown Advisory Inc. bought a new stake in Spirit Realty Capital during the 4th quarter valued at approximately $126,000. Ffcm LLC boosted its stake in Spirit Realty Capital by 214.0% during the 4th quarter. Ffcm LLC now owns 15,761 shares of the real estate investment trust’s stock valued at $133,000 after purchasing an additional 10,741 shares during the period. Advisors Asset Management Inc. boosted its stake in Spirit Realty Capital by 122.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 18,571 shares of the real estate investment trust’s stock valued at $159,000 after purchasing an additional 10,241 shares during the period. Finally, Ibex Wealth Advisors bought a new stake in Spirit Realty Capital during the 4th quarter valued at approximately $164,000. Institutional investors own 90.91% of the company’s stock.
In related news, Director Thomas D. Senkbeil bought 25,200 shares of the company’s stock in a transaction dated Tuesday, March 6th. The stock was acquired at an average cost of $7.93 per share, with a total value of $199,836.00. Following the acquisition, the director now owns 67,052 shares in the company, valued at approximately $531,722.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.50% of the company’s stock.
Spirit Realty Capital (NYSE:SRC) last issued its earnings results on Thursday, February 22nd. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.15). Spirit Realty Capital had a return on equity of 2.84% and a net margin of 11.53%. The company had revenue of $165.35 million during the quarter, compared to analyst estimates of $166.69 million. During the same period in the previous year, the company posted $0.21 earnings per share. The company’s quarterly revenue was down 4.6% on a year-over-year basis. equities research analysts expect that Spirit Realty Capital, Inc will post 0.82 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Friday, March 30th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 9.00%. Spirit Realty Capital’s payout ratio is presently 450.03%.
Several analysts recently weighed in on SRC shares. B. Riley set a $9.00 target price on Spirit Realty Capital and gave the company a “buy” rating in a research note on Tuesday, January 16th. Zacks Investment Research downgraded Spirit Realty Capital from a “hold” rating to a “sell” rating in a research note on Friday, January 5th. Mizuho restated a “buy” rating and set a $9.50 target price on shares of Spirit Realty Capital in a research note on Thursday, December 21st. Capital One Financial raised Spirit Realty Capital from an “underweight” rating to an “equal weight” rating in a report on Wednesday, January 24th. Finally, Morgan Stanley cut their price target on Spirit Realty Capital from $8.75 to $8.25 and set an “equal weight” rating for the company in a report on Monday, February 5th. Twelve equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $9.44.
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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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