Spirit Realty Capital Inc (NYSE:SRC) Short Interest Down 9.8% in October

Spirit Realty Capital Inc (NYSE:SRC) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 1,940,000 shares, a decrease of 9.8% from the September 30th total of 2,150,000 shares. Approximately 2.2% of the company’s stock are short sold. Based on an average daily volume of 817,500 shares, the days-to-cover ratio is currently 2.4 days.

NYSE SRC traded up $0.35 during trading hours on Friday, hitting $50.77. The company’s stock had a trading volume of 876,851 shares, compared to its average volume of 703,772. Spirit Realty Capital has a 52 week low of $33.86 and a 52 week high of $50.97. The company has a market capitalization of $5.03 billion, a PE ratio of 13.43 and a beta of 0.36. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 0.66. The company’s 50-day simple moving average is $48.80 and its two-hundred day simple moving average is $45.63.

Spirit Realty Capital (NYSE:SRC) last announced its quarterly earnings results on Tuesday, November 5th. The real estate investment trust reported $0.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.65. Spirit Realty Capital had a net margin of 42.82% and a return on equity of 8.03%. The business had revenue of $167.00 million for the quarter, compared to analysts’ expectations of $113.15 million. During the same quarter last year, the firm earned $0.16 EPS. The firm’s revenue for the quarter was up 52.4% compared to the same quarter last year. Research analysts anticipate that Spirit Realty Capital will post 3.14 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in SRC. Amundi Pioneer Asset Management Inc. lifted its position in Spirit Realty Capital by 143.1% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 152,138 shares of the real estate investment trust’s stock valued at $6,045,000 after acquiring an additional 89,560 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in Spirit Realty Capital in the 2nd quarter valued at about $363,000. Real Estate Management Services LLC purchased a new stake in Spirit Realty Capital in the 2nd quarter valued at about $6,890,000. Nisa Investment Advisors LLC increased its stake in Spirit Realty Capital by 11.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 11,441 shares of the real estate investment trust’s stock valued at $488,000 after buying an additional 1,136 shares during the last quarter. Finally, Beacon Financial Group purchased a new stake in Spirit Realty Capital in the 2nd quarter valued at about $5,647,000. 91.84% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have recently issued reports on SRC shares. Zacks Investment Research cut shares of Spirit Realty Capital from a “hold” rating to a “sell” rating in a research report on Thursday, October 24th. Morgan Stanley increased their price objective on shares of Spirit Realty Capital from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. raised shares of Spirit Realty Capital from a “neutral” rating to an “overweight” rating and raised their price target for the company from $50.00 to $52.00 in a research report on Tuesday, October 8th. Liberum Capital raised their price target on shares of Spirit Realty Capital from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus initiated coverage on shares of Spirit Realty Capital in a research report on Thursday, August 29th. They issued a “buy” rating and a $51.50 price target on the stock. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $52.30.

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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