Spirit Realty Capital (SRC) – Investment Analysts’ Recent Ratings Changes

Spirit Realty Capital (NYSE: SRC) has recently received a number of price target changes and ratings updates:

  • 12/4/2019 – Spirit Realty Capital was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $58.00 price target on the stock. According to Zacks, “Spirit Realty Capital, Inc. is a real estate investment trust. It acquires single tenant, operationally essential real estate where the tenants conduct retail, service or distribution activities. The Company has investments throughout the United States. Its portfolio of properties is leased to tenants operating in different industries which includes restaurants; general, specialty and discount retailers; movie theatres; education facilities; health, fitness and recreational facilities; automotive dealers, parts and service facilities; and supermarkets. Spirit Realty Capital, Inc. is based in Scottsdale, Arizona. “
  • 12/3/2019 – Spirit Realty Capital was upgraded by analysts at Capital One Financial Corp. from an “equal weight” rating to an “overweight” rating. They now have a $56.00 price target on the stock.
  • 12/3/2019 – Spirit Realty Capital was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Spirit Realty Capital, Inc. is a real estate investment trust. It acquires single tenant, operationally essential real estate where the tenants conduct retail, service or distribution activities. The Company has investments throughout the United States. Its portfolio of properties is leased to tenants operating in different industries which includes restaurants; general, specialty and discount retailers; movie theatres; education facilities; health, fitness and recreational facilities; automotive dealers, parts and service facilities; and supermarkets. Spirit Realty Capital, Inc. is based in Scottsdale, Arizona. “
  • 11/27/2019 – Spirit Realty Capital had its price target raised by analysts at Deutsche Bank AG from $50.00 to $52.00. They now have a “hold” rating on the stock.
  • 11/26/2019 – Spirit Realty Capital had its price target raised by analysts at Stifel Nicolaus from $53.00 to $56.00. They now have a “buy” rating on the stock.
  • 11/26/2019 – Spirit Realty Capital was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $56.00 price target on the stock. According to Zacks, “Spirit Realty Capital, Inc. is a real estate investment trust. It acquires single tenant, operationally essential real estate where the tenants conduct retail, service or distribution activities. The Company has investments throughout the United States. Its portfolio of properties is leased to tenants operating in different industries which includes restaurants; general, specialty and discount retailers; movie theatres; education facilities; health, fitness and recreational facilities; automotive dealers, parts and service facilities; and supermarkets. Spirit Realty Capital, Inc. is based in Scottsdale, Arizona. “
  • 10/24/2019 – Spirit Realty Capital was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Spirit Realty Capital, Inc. is a real estate investment trust. It acquires single tenant, operationally essential real estate where the tenants conduct retail, service or distribution activities. The Company has investments throughout the United States. Its portfolio of properties is leased to tenants operating in different industries which includes restaurants; general, specialty and discount retailers; movie theatres; education facilities; health, fitness and recreational facilities; automotive dealers, parts and service facilities; and supermarkets. Spirit Realty Capital, Inc. is based in Scottsdale, Arizona. “
  • 10/8/2019 – Spirit Realty Capital was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating. They now have a $52.00 price target on the stock, up previously from $50.00.

NYSE:SRC traded up $0.53 during trading hours on Wednesday, reaching $53.05. 1,888,766 shares of the stock were exchanged, compared to its average volume of 1,085,062. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 0.66. The firm has a 50 day simple moving average of $50.02 and a 200-day simple moving average of $46.50. Spirit Realty Capital Inc has a 52 week low of $33.86 and a 52 week high of $53.10. The stock has a market capitalization of $5.23 billion, a P/E ratio of 14.03 and a beta of 0.38.

Spirit Realty Capital (NYSE:SRC) last released its earnings results on Tuesday, November 5th. The real estate investment trust reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.65. Spirit Realty Capital had a return on equity of 8.03% and a net margin of 42.82%. The company had revenue of $167.00 million for the quarter, compared to the consensus estimate of $113.15 million. During the same quarter last year, the business posted $0.16 EPS. Spirit Realty Capital’s quarterly revenue was up 52.4% compared to the same quarter last year. As a group, analysts expect that Spirit Realty Capital Inc will post 3.16 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date is Monday, December 30th. Spirit Realty Capital’s payout ratio is 66.14%.

Several institutional investors have recently made changes to their positions in SRC. Brookfield Asset Management Inc. acquired a new stake in shares of Spirit Realty Capital during the 2nd quarter worth approximately $72,835,000. Long Pond Capital LP raised its position in shares of Spirit Realty Capital by 463.2% during the 2nd quarter. Long Pond Capital LP now owns 1,811,310 shares of the real estate investment trust’s stock worth $77,270,000 after purchasing an additional 1,489,696 shares during the period. Westfield Capital Management Co. LP acquired a new stake in shares of Spirit Realty Capital during the 2nd quarter worth approximately $49,585,000. State Street Corp increased its position in Spirit Realty Capital by 43.9% in the 3rd quarter. State Street Corp now owns 3,359,961 shares of the real estate investment trust’s stock valued at $162,879,000 after acquiring an additional 1,024,631 shares during the period. Finally, Vanguard Group Inc. increased its position in Spirit Realty Capital by 5.5% in the 2nd quarter. Vanguard Group Inc. now owns 14,663,135 shares of the real estate investment trust’s stock valued at $625,530,000 after acquiring an additional 763,350 shares during the period. Institutional investors and hedge funds own 92.31% of the company’s stock.

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.

Further Reading: Margin

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