Spirit Realty Capital (NYSE:SRC) Reaches New 1-Year High at $46.77

Spirit Realty Capital Inc (NYSE:SRC) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $46.77 and last traded at $46.46, with a volume of 7012 shares. The stock had previously closed at $46.58.

A number of brokerages have recently issued reports on SRC. Zacks Investment Research upgraded shares of Spirit Realty Capital from a “sell” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. raised their price target on shares of Spirit Realty Capital from $41.00 to $44.00 and gave the stock a “neutral” rating in a report on Tuesday, June 4th. Morgan Stanley upgraded shares of Spirit Realty Capital from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $41.00 to $49.00 in a report on Wednesday, July 10th. ValuEngine downgraded shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. Finally, Deutsche Bank downgraded shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $43.75.

The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.77. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of 12.33 and a beta of 0.42. The stock’s fifty day moving average price is $44.70 and its 200-day moving average price is $41.87.

Spirit Realty Capital (NYSE:SRC) last posted its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.49 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.33). The company had revenue of $115.70 million for the quarter, compared to analysts’ expectations of $108.48 million. Spirit Realty Capital had a return on equity of 6.54% and a net margin of 37.11%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.20 EPS. Analysts predict that Spirit Realty Capital Inc will post 3.18 earnings per share for the current year.

In related news, EVP Jay Young sold 10,648 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $45.79, for a total transaction of $487,571.92. Following the completion of the transaction, the executive vice president now owns 18,890 shares of the company’s stock, valued at approximately $864,973.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.92% of the company’s stock.

Several large investors have recently bought and sold shares of SRC. Patriot Financial Group Insurance Agency LLC purchased a new position in Spirit Realty Capital in the 2nd quarter valued at approximately $27,000. Osborn Williams & Donohoe LLC purchased a new position in Spirit Realty Capital in the 1st quarter valued at approximately $25,000. Steward Partners Investment Advisory LLC purchased a new position in Spirit Realty Capital in the 2nd quarter valued at approximately $34,000. Prestige Wealth Management Group LLC purchased a new position in Spirit Realty Capital in the 2nd quarter valued at approximately $46,000. Finally, Pinnacle Financial Partners Inc. purchased a new position in Spirit Realty Capital in the 1st quarter valued at approximately $44,000. 89.82% of the stock is owned by hedge funds and other institutional investors.

About Spirit Realty Capital (NYSE:SRC)

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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