Pensionfund DSM Netherlands Increases Stock Holdings in Spirit Realty Capital, Inc. (NYSE:SRC)

Pensionfund DSM Netherlands raised its stake in Spirit Realty Capital, Inc. (NYSE:SRC) by 25.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,600 shares of the real estate investment trust’s stock after purchasing an additional 16,000 shares during the period. Pensionfund DSM Netherlands owned 0.07% of Spirit Realty Capital worth $3,383,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Concord Wealth Partners purchased a new position in Spirit Realty Capital in the fourth quarter valued at approximately $34,000. Patriot Financial Group Insurance Agency LLC increased its stake in Spirit Realty Capital by 37.9% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,780 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 489 shares during the last quarter. Van ECK Associates Corp increased its stake in Spirit Realty Capital by 36.7% in the fourth quarter. Van ECK Associates Corp now owns 4,741 shares of the real estate investment trust’s stock valued at $190,000 after purchasing an additional 1,272 shares during the last quarter. Telemus Capital LLC purchased a new position in Spirit Realty Capital in the fourth quarter valued at approximately $201,000. Finally, Sunbelt Securities Inc. purchased a new position in Spirit Realty Capital in the fourth quarter valued at approximately $201,000. Institutional investors own 98.65% of the company’s stock.

Shares of NYSE SRC opened at $43.78 on Thursday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a fifty day moving average price of $42.63 and a 200 day moving average price of $38.36. Spirit Realty Capital, Inc. has a 1-year low of $23.88 and a 1-year high of $45.25. The company has a market cap of $5.03 billion, a PE ratio of -547.18 and a beta of 1.17.

Spirit Realty Capital (NYSE:SRC) last issued its quarterly earnings results on Thursday, February 18th. The real estate investment trust reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.06. Spirit Realty Capital had a return on equity of 0.07% and a net margin of 0.46%. The firm had revenue of $128.60 million during the quarter, compared to the consensus estimate of $118.87 million. During the same period last year, the company earned $0.76 earnings per share. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. Analysts anticipate that Spirit Realty Capital, Inc. will post 2.8 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Wednesday, March 31st will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 5.71%. The ex-dividend date of this dividend is Tuesday, March 30th. Spirit Realty Capital’s dividend payout ratio (DPR) is currently 74.85%.

A number of brokerages have recently issued reports on SRC. Robert W. Baird began coverage on shares of Spirit Realty Capital in a research report on Wednesday, December 16th. They set a “neutral” rating on the stock. UBS Group upgraded shares of Spirit Realty Capital from a “sell” rating to a “neutral” rating in a research report on Thursday, March 4th. Morgan Stanley raised their target price on shares of Spirit Realty Capital from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 25th. Truist raised their target price on shares of Spirit Realty Capital from $43.00 to $48.00 in a research report on Monday, March 22nd. Finally, Mizuho restated a “neutral” rating and set a $43.00 target price (up from $39.00) on shares of Spirit Realty Capital in a research report on Wednesday, March 10th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Spirit Realty Capital presently has a consensus rating of “Hold” and a consensus target price of $42.62.

Spirit Realty Capital Profile

Spirit Realty Capital, Inc (NYSE: SRC) is a premier net-lease REIT that primarily invests in single-tenant, operationally essential real estate assets, subject to long-term leases. As of September 30, 2020, our diverse portfolio of 1,778 owned properties, with an aggregate leasable area of 37.2 million square feet in 48 states, included retail, industrial and office buildings leased to 296 tenants across 28 retail industries.

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Institutional Ownership by Quarter for Spirit Realty Capital (NYSE:SRC)

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