Morgan Stanley Raises Spirit Realty Capital (NYSE:SRC) Price Target to $51.00

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Spirit Realty Capital (NYSE:SRC) had its price objective lifted by research analysts at Morgan Stanley from $49.00 to $51.00 in a research note issued to investors on Tuesday, AnalystRatings.com reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Morgan Stanley’s price objective suggests a potential upside of 7.46% from the company’s current price.

SRC has been the topic of several other research reports. Zacks Investment Research upgraded Spirit Realty Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. ValuEngine cut Spirit Realty Capital from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th. JPMorgan Chase & Co. boosted their target price 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, Stifel Nicolaus started coverage on Spirit Realty Capital in a research report on Thursday, August 29th. They set a “buy” rating and a $51.50 price target on the stock. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $45.70.

NYSE SRC opened at $47.46 on Tuesday. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of 12.56 and a beta of 0.38. The stock’s 50 day moving average price is $46.32 and its two-hundred day moving average price is $42.86. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.36 and a current ratio of 0.36. Spirit Realty Capital has a 52 week low of $33.86 and a 52 week high of $48.59.

Spirit Realty Capital (NYSE:SRC) last released its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.49 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.33). The firm had revenue of $115.70 million during the quarter, compared to the consensus estimate of $108.48 million. Spirit Realty Capital had a net margin of 37.11% and a return on equity of 6.54%. The company’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.20 EPS. On average, equities research analysts forecast that Spirit Realty Capital will post 3.14 EPS for the current year.

In other Spirit Realty Capital news, EVP Jay Young sold 10,648 shares of the business’s 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 transaction, the executive vice president now owns 18,890 shares of the company’s stock, valued at approximately $864,973.10. The transaction 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 insiders.

Hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC increased its holdings in shares of Spirit Realty Capital by 43.9% during the 1st quarter. Advisory Services Network LLC now owns 1,640 shares of the real estate investment trust’s stock worth $65,000 after acquiring an additional 500 shares during the last quarter. Pictet Asset Management Ltd. increased its holdings in shares of Spirit Realty Capital by 34.4% during the 1st quarter. Pictet Asset Management Ltd. now owns 14,755 shares of the real estate investment trust’s stock worth $586,000 after acquiring an additional 3,777 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Spirit Realty Capital by 88.1% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 98,412 shares of the real estate investment trust’s stock worth $4,198,000 after acquiring an additional 46,101 shares during the last quarter. FDx Advisors Inc. increased its holdings in shares of Spirit Realty Capital by 120.4% during the 2nd quarter. FDx Advisors Inc. now owns 29,618 shares of the real estate investment trust’s stock worth $1,264,000 after acquiring an additional 16,182 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of Spirit Realty Capital by 15.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 43,205 shares of the real estate investment trust’s stock worth $1,842,000 after acquiring an additional 5,745 shares during the last quarter.

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.

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Analyst Recommendations for Spirit Realty Capital (NYSE:SRC)

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