Spirit Realty Capital Inc (SRC) Given Consensus Recommendation of “Hold” by Analysts

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Shares of Spirit Realty Capital Inc (NYSE:SRC) have earned a consensus rating of “Hold” from the fifteen analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $9.13.

A number of research analysts have weighed in on SRC shares. Zacks Investment Research raised shares of Spirit Realty Capital from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a research report on Wednesday, May 9th. ValuEngine cut shares of Spirit Realty Capital from a “hold” rating to a “sell” rating in a research report on Saturday, June 2nd. BTIG Research cut shares of Spirit Realty Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, June 21st. Finally, TheStreet raised shares of Spirit Realty Capital from a “c” rating to a “b-” rating in a research report on Wednesday, August 8th.

SRC stock traded up $0.12 during midday trading on Wednesday, reaching $8.42. 4,265,100 shares of the company’s stock traded hands, compared to its average volume of 5,752,056. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 9.91 and a beta of 0.44. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.69. Spirit Realty Capital has a fifty-two week low of $7.34 and a fifty-two week high of $8.84.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.94%. Spirit Realty Capital’s payout ratio is currently 84.71%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Spirit Realty Capital by 9.7% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 73,039 shares of the real estate investment trust’s stock worth $567,000 after buying an additional 6,449 shares during the last quarter. Raymond James & Associates increased its stake in shares of Spirit Realty Capital by 8.2% in the second quarter. Raymond James & Associates now owns 86,253 shares of the real estate investment trust’s stock worth $693,000 after buying an additional 6,508 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Spirit Realty Capital by 14.8% in the first quarter. Daiwa Securities Group Inc. now owns 58,300 shares of the real estate investment trust’s stock worth $452,000 after buying an additional 7,500 shares during the last quarter. Quantitative Systematic Strategies LLC increased its stake in shares of Spirit Realty Capital by 13.3% in the first quarter. Quantitative Systematic Strategies LLC now owns 72,344 shares of the real estate investment trust’s stock worth $561,000 after buying an additional 8,493 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Spirit Realty Capital by 12.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 84,820 shares of the real estate investment trust’s stock worth $658,000 after buying an additional 9,562 shares during the last quarter. 91.24% of the stock is currently owned by institutional investors and hedge funds.

Spirit Realty Capital Company Profile

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 providing superior risk adjusted returns and steady dividend growth for our stockholders.

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Analyst Recommendations for Spirit Realty Capital (NYSE:SRC)

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