Louisiana State Employees Retirement System boosted its stake in shares of Spirit Realty Capital Inc (NYSE:SRC) by 11.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,100 shares of the real estate investment trust’s stock after buying an additional 2,400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Spirit Realty Capital were worth $1,185,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of SRC. Tower Research Capital LLC TRC bought a new stake in Spirit Realty Capital in the third quarter worth about $27,000. Garrett Wealth Advisory Group LLC purchased a new position in Spirit Realty Capital in the third quarter valued at about $31,000. Prestige Wealth Management Group LLC bought a new position in shares of Spirit Realty Capital during the 2nd quarter valued at approximately $46,000. Reilly Financial Advisors LLC bought a new position in shares of Spirit Realty Capital during the 4th quarter valued at approximately $64,000. Finally, WealthStone Inc. purchased a new stake in shares of Spirit Realty Capital during the 2nd quarter worth approximately $84,000. Institutional investors own 92.28% of the company’s stock.
SRC opened at $51.42 on Tuesday. The company has a market capitalization of $5.13 billion, a price-to-earnings ratio of 21.07 and a beta of 0.37. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average price of $50.00 and a 200-day moving average price of $48.03. Spirit Realty Capital Inc has a twelve month low of $36.69 and a twelve month high of $53.23.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.625 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $2.50 dividend on an annualized basis and a yield of 4.86%. Spirit Realty Capital’s dividend payout ratio is 66.14%.
A number of equities research analysts recently commented on the stock. Zacks Investment Research raised shares of Spirit Realty Capital from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Thursday, December 19th. Royal Bank of Canada increased their price objective on Spirit Realty Capital from $46.00 to $52.00 and gave the company a “sector perform” rating in a report on Tuesday, December 10th. Morgan Stanley raised their target price on Spirit Realty Capital from $51.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. raised their target price on Spirit Realty Capital from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, Capital One Financial upgraded Spirit Realty Capital from an “equal weight” rating to an “overweight” rating and set a $56.00 target price on the stock in a research note on Tuesday, December 3rd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Spirit Realty Capital presently has an average rating of “Buy” and an average target price of $53.38.
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.
Read More: Why do analysts give a neutral rating?
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