Spirit Realty Capital Inc (NYSE:SRC) Shares Acquired by State Board of Administration of Florida Retirement System

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State Board of Administration of Florida Retirement System lifted its position in shares of Spirit Realty Capital Inc (NYSE:SRC) by 14.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 134,605 shares of the real estate investment trust’s stock after acquiring an additional 17,305 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.15% of Spirit Realty Capital worth $5,742,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of SRC. Duff & Phelps Investment Management Co. increased its stake in shares of Spirit Realty Capital by 34.5% during the second quarter. Duff & Phelps Investment Management Co. now owns 1,261,000 shares of the real estate investment trust’s stock worth $53,794,000 after acquiring an additional 323,700 shares during the period. Long Pond Capital LP acquired a new position in shares of Spirit Realty Capital during the first quarter worth about $12,778,000. Morningstar Investment Services LLC acquired a new position in shares of Spirit Realty Capital during the first quarter worth about $11,716,000. Teacher Retirement System of Texas acquired a new position in shares of Spirit Realty Capital during the first quarter worth about $7,518,000. Finally, Westpac Banking Corp increased its stake in shares of Spirit Realty Capital by 78.8% during the second quarter. Westpac Banking Corp now owns 400,453 shares of the real estate investment trust’s stock worth $17,083,000 after acquiring an additional 176,447 shares during the period. Institutional investors and hedge funds own 89.82% of the company’s stock.

In other Spirit Realty Capital news, EVP Jay Young sold 10,648 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $45.79, for a total value of $487,571.92. Following the sale, the executive vice president now 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 can be accessed through the SEC website. 0.92% of the stock is owned by corporate insiders.

Several brokerages have weighed in on SRC. Deutsche Bank lowered shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Zacks Investment Research upgraded shares of Spirit Realty Capital from a “sell” rating to a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. upped their target price on shares of Spirit Realty Capital from $41.00 to $44.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 4th. Stifel Nicolaus began coverage on shares of Spirit Realty Capital in a research report on Thursday. They set a “buy” rating and a $51.50 target price on the stock. Finally, Morgan Stanley upgraded shares of Spirit Realty Capital from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $41.00 to $49.00 in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $45.30.

Shares of SRC opened at $46.94 on Thursday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.77. The firm’s 50-day moving average is $44.93 and its two-hundred day moving average is $42.07. Spirit Realty Capital Inc has a twelve month low of $33.86 and a twelve month high of $47.18. The firm has a market capitalization of $4.23 billion, a P/E ratio of 12.42 and a beta of 0.42.

Spirit Realty Capital (NYSE:SRC) last announced its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $115.70 million during the quarter, compared to analysts’ expectations of $108.48 million. During the same period last year, the company earned $0.20 EPS. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. Analysts predict that Spirit Realty Capital Inc will post 3.18 EPS for the current year.

The firm also recently declared a — dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.625 dividend. This represents a dividend yield of 5.3%. The ex-dividend date is Friday, September 27th. Spirit Realty Capital’s dividend payout ratio (DPR) is presently 66.14%.

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.

Further Reading: What can cause a stock to outperform?

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

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