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 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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