Analysts Anticipate Spirit Realty Capital, Inc. (NYSE:SRC) Will Announce Earnings of $0.81 Per Share

Analysts expect Spirit Realty Capital, Inc. (NYSE:SRC) to announce earnings of $0.81 per share for the current quarter, Zacks reports. Five analysts have provided estimates for Spirit Realty Capital’s earnings, with the lowest EPS estimate coming in at $0.79 and the highest estimate coming in at $0.83. Spirit Realty Capital posted earnings of $0.72 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 12.5%. The business is scheduled to report its next earnings results on Monday, November 1st.

According to Zacks, analysts expect that Spirit Realty Capital will report full year earnings of $3.21 per share for the current financial year, with EPS estimates ranging from $3.05 to $3.29. For the next financial year, analysts forecast that the firm will report earnings of $3.41 per share, with EPS estimates ranging from $3.23 to $3.52. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Spirit Realty Capital.

Spirit Realty Capital (NYSE:SRC) last issued its earnings results on Tuesday, August 3rd. The real estate investment trust reported $0.74 EPS for the quarter, meeting analysts’ consensus estimates of $0.74. Spirit Realty Capital had a return on equity of 3.84% and a net margin of 23.87%.

Several brokerages have recently commented on SRC. Mizuho increased their target price on Spirit Realty Capital from $50.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, August 24th. Raymond James increased their target price on Spirit Realty Capital from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, June 17th. Morgan Stanley increased their target price on Spirit Realty Capital from $49.00 to $55.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 7th. JPMorgan Chase & Co. increased their target price on Spirit Realty Capital from $48.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, June 22nd. Finally, Truist upped their price target on Spirit Realty Capital from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, August 16th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $50.26.

NYSE:SRC traded up $0.26 during trading hours on Friday, reaching $49.91. The company had a trading volume of 301 shares, compared to its average volume of 789,702. The stock has a 50-day moving average of $50.10 and a two-hundred day moving average of $47.28. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $5.94 billion, a PE ratio of 47.29, a PEG ratio of 2.91 and a beta of 1.28. Spirit Realty Capital has a one year low of $29.40 and a one year high of $52.29.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Thursday, September 30th will be given a dividend of $0.638 per share. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a $2.55 dividend on an annualized basis and a dividend yield of 5.11%. This is a positive change from Spirit Realty Capital’s previous quarterly dividend of $0.63. Spirit Realty Capital’s dividend payout ratio (DPR) is currently 84.75%.

In other Spirit Realty Capital news, Director Michelle M. Frymire purchased 2,386 shares of the company’s stock in a transaction dated Wednesday, September 8th. The shares were bought at an average price of $51.00 per share, with a total value of $121,686.00. Following the completion of the transaction, the director now directly owns 4,772 shares in the company, valued at approximately $243,372. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.56% of the company’s stock.

Several large investors have recently bought and sold shares of SRC. Brookfield Asset Management Inc. bought a new position in shares of Spirit Realty Capital during the first quarter worth about $41,774,000. BlackRock Inc. grew its holdings in shares of Spirit Realty Capital by 6.6% during the first quarter. BlackRock Inc. now owns 15,837,534 shares of the real estate investment trust’s stock worth $673,095,000 after buying an additional 976,318 shares in the last quarter. Cbre Clarion Securities LLC grew its holdings in shares of Spirit Realty Capital by 117.4% during the second quarter. Cbre Clarion Securities LLC now owns 1,737,428 shares of the real estate investment trust’s stock worth $83,119,000 after buying an additional 938,340 shares in the last quarter. Long Pond Capital LP grew its stake in Spirit Realty Capital by 45.2% in the second quarter. Long Pond Capital LP now owns 2,592,426 shares of the real estate investment trust’s stock valued at $124,022,000 after purchasing an additional 807,265 shares in the last quarter. Finally, Morgan Stanley grew its stake in Spirit Realty Capital by 102.6% in the second quarter. Morgan Stanley now owns 1,557,234 shares of the real estate investment trust’s stock valued at $74,499,000 after purchasing an additional 788,722 shares in the last quarter. Institutional investors and hedge funds own 96.78% of the company’s stock.

Spirit Realty Capital Company Profile

Spirit Realty Capital, Inc operates as a holding company. Its in-house capabilities include acquisition, portfolio management, asset management, credit research, real estate research, legal, finance and accounting and capital markets. The company was founded on August 14, 2003 and is headquartered in Dallas, TX.

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Earnings History and Estimates for Spirit Realty Capital (NYSE:SRC)

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