Price T Rowe Associates Inc. MD boosted its holdings in Spirit Realty Capital Inc (NYSE:SRC) by 66.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,319 shares of the real estate investment trust’s stock after buying an additional 17,286 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Spirit Realty Capital were worth $1,848,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of SRC. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Spirit Realty Capital during the second quarter valued at $27,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Spirit Realty Capital during the second quarter valued at $34,000. Advisory Services Network LLC lifted its stake in shares of Spirit Realty Capital by 43.9% during the first quarter. Advisory Services Network LLC now owns 1,640 shares of the real estate investment trust’s stock valued at $65,000 after acquiring an additional 500 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Spirit Realty Capital by 18.9% during the second quarter. Pacer Advisors Inc. now owns 2,305 shares of the real estate investment trust’s stock valued at $98,000 after acquiring an additional 366 shares during the period. Finally, Centaurus Financial Inc. lifted its stake in shares of Spirit Realty Capital by 1,704.2% during the second quarter. Centaurus Financial Inc. now owns 2,562 shares of the real estate investment trust’s stock valued at $109,000 after acquiring an additional 2,420 shares during the period. 91.84% of the stock is currently owned by institutional investors.
In related news, EVP Jay Young sold 10,648 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $45.79, for a total transaction of $487,571.92. Following the completion of the transaction, the executive vice president now directly owns 18,890 shares of the company’s stock, valued at $864,973.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.92% of the company’s stock.
SRC has been the topic of several research reports. Zacks Investment Research raised Spirit Realty Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. ValuEngine downgraded Spirit Realty Capital from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. Stifel Nicolaus assumed coverage on Spirit Realty Capital in a report on Thursday, August 29th. They issued a “buy” rating and a $51.50 price objective for the company. Morgan Stanley upped their price objective on Spirit Realty Capital from $49.00 to $51.00 and gave the company an “overweight” rating in a report on Tuesday, September 17th. Finally, JPMorgan Chase & Co. upgraded Spirit Realty Capital from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $50.00 to $52.00 in a report on Tuesday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $47.30.
NYSE SRC opened at $48.28 on Friday. The stock has a 50-day simple moving average of $47.57 and a 200 day simple moving average of $44.05. The company has a market capitalization of $4.33 billion, a PE ratio of 12.77 and a beta of 0.37. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.77. Spirit Realty Capital Inc has a 12 month low of $33.86 and a 12 month high of $49.04.
Spirit Realty Capital (NYSE:SRC) last released its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.33). Spirit Realty Capital had a net margin of 37.11% and a return on equity of 6.54%. The company had revenue of $115.70 million during the quarter, compared to the consensus estimate of $108.48 million. During the same quarter in the prior year, the company posted $0.20 EPS. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, sell-side analysts predict that Spirit Realty Capital Inc will post 3.14 earnings per share for the current fiscal year.
The business also recently declared a — dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.625 per share. The ex-dividend date is Friday, September 27th. This represents a yield of 5.3%. Spirit Realty Capital’s dividend payout ratio (DPR) is presently 66.14%.
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.
Further Reading: Golden Cross
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