JPMorgan Chase & Co. increased its stake in shares of Spirit Realty Capital, Inc. (NYSE:SRC) by 103.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 865,657 shares of the real estate investment trust’s stock after acquiring an additional 439,954 shares during the period. JPMorgan Chase & Co.’s holdings in Spirit Realty Capital were worth $34,774,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Federated Hermes Inc. raised its holdings in Spirit Realty Capital by 3.8% during the fourth quarter. Federated Hermes Inc. now owns 24,644 shares of the real estate investment trust’s stock worth $990,000 after acquiring an additional 896 shares in the last quarter. Alpha Omega Wealth Management LLC raised its holdings in Spirit Realty Capital by 0.5% during the fourth quarter. Alpha Omega Wealth Management LLC now owns 115,442 shares of the real estate investment trust’s stock worth $4,637,000 after acquiring an additional 608 shares in the last quarter. Semmax Financial Advisors Inc. raised its holdings in Spirit Realty Capital by 2.9% during the fourth quarter. Semmax Financial Advisors Inc. now owns 58,864 shares of the real estate investment trust’s stock worth $2,365,000 after acquiring an additional 1,648 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Spirit Realty Capital by 15.3% during the third quarter. Advisors Asset Management Inc. now owns 30,787 shares of the real estate investment trust’s stock worth $1,039,000 after acquiring an additional 4,074 shares in the last quarter. Finally, Hill Winds Capital LP bought a new stake in Spirit Realty Capital in the fourth quarter valued at approximately $5,423,000. Institutional investors and hedge funds own 98.65% of the company’s stock.
Several analysts have issued reports on the company. Truist upped their price objective on Spirit Realty Capital from $43.00 to $48.00 in a research note on Monday, March 22nd. Mizuho restated a “neutral” rating and issued a $43.00 price objective (up previously from $39.00) on shares of Spirit Realty Capital in a research note on Wednesday, March 10th. Morgan Stanley upped their price objective on Spirit Realty Capital from $37.00 to $40.00 and gave the company an “equal weight” rating in a research note on Thursday, February 25th. Zacks Investment Research lowered Spirit Realty Capital from a “buy” rating to a “hold” rating in a research note on Friday, March 19th. Finally, Truist Financial upped their price objective on Spirit Realty Capital from $39.00 to $43.00 in a research note on Thursday, December 31st. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Spirit Realty Capital has a consensus rating of “Hold” and a consensus target price of $42.62.
Spirit Realty Capital (NYSE:SRC) last issued its quarterly earnings results on Thursday, February 18th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.06. The business had revenue of $128.60 million for the quarter, compared to the consensus estimate of $118.87 million. Spirit Realty Capital had a return on equity of 0.07% and a net margin of 0.46%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.76 earnings per share. As a group, equities research analysts predict that Spirit Realty Capital, Inc. will post 2.8 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Wednesday, March 31st will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 5.71%. The ex-dividend date is Tuesday, March 30th. Spirit Realty Capital’s dividend payout ratio is currently 74.85%.
About Spirit Realty Capital
Spirit Realty Capital, Inc (NYSE: SRC) is a premier net-lease REIT that primarily invests in single-tenant, operationally essential real estate assets, subject to long-term leases. As of September 30, 2020, our diverse portfolio of 1,778 owned properties, with an aggregate leasable area of 37.2 million square feet in 48 states, included retail, industrial and office buildings leased to 296 tenants across 28 retail industries.
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