Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Spirit Realty Capital Inc (NYSE:SRC) by 5.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,346 shares of the real estate investment trust’s stock after acquiring an additional 967 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Spirit Realty Capital were worth $740,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV purchased a new stake in Spirit Realty Capital during the 1st quarter valued at about $324,000. Bank of Montreal Can grew its stake in Spirit Realty Capital by 40.8% during the 1st quarter. Bank of Montreal Can now owns 32,176 shares of the real estate investment trust’s stock valued at $1,279,000 after purchasing an additional 9,329 shares during the last quarter. Quantamental Technologies LLC purchased a new stake in Spirit Realty Capital during the 1st quarter valued at about $111,000. Osborn Williams & Donohoe LLC purchased a new stake in Spirit Realty Capital during the 1st quarter valued at about $25,000. Finally, Pinnacle Financial Partners Inc. purchased a new stake in Spirit Realty Capital during the 1st quarter valued at about $44,000. Hedge funds and other institutional investors own 91.44% of the company’s stock.
Several research firms have weighed in on SRC. Deutsche Bank downgraded Spirit Realty Capital from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. ValuEngine downgraded Spirit Realty Capital from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th. Zacks Investment Research upgraded Spirit Realty Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. boosted their price target on Spirit Realty Capital from $41.00 to $44.00 and gave the company a “neutral” rating in a research note on Tuesday, June 4th. Finally, Morgan Stanley upgraded Spirit Realty Capital from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $41.00 to $49.00 in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Spirit Realty Capital currently has a consensus rating of “Hold” and an average price target of $45.30.
Shares of SRC traded up $0.21 during mid-day trading on Wednesday, reaching $48.23. The company had a trading volume of 3,249 shares, compared to its average volume of 1,121,921. Spirit Realty Capital Inc has a 52-week low of $33.86 and a 52-week high of $48.59. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $4.35 billion, a P/E ratio of 12.83 and a beta of 0.39. The stock has a 50 day moving average of $45.31 and a two-hundred day moving average of $42.32.
Spirit Realty Capital (NYSE:SRC) last issued its earnings results 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 return on equity of 6.54% and a net margin of 37.11%. The company had revenue of $115.70 million during the quarter, compared to analysts’ expectations of $108.48 million. During the same quarter in the previous year, the company earned $0.20 EPS. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, sell-side analysts expect that Spirit Realty Capital Inc will post 3.14 earnings per share for the current year.
The business also recently announced a — dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.625 dividend. The ex-dividend date is Friday, September 27th. This represents a dividend yield of 5.3%. Spirit Realty Capital’s payout ratio is 66.14%.
Spirit Realty Capital 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.
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