Real Estate Management Services LLC Grows Position in Spirit Realty Capital, Inc. (NYSE:SRC)


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Real Estate Management Services LLC increased its position in shares of Spirit Realty Capital, Inc. (NYSE:SRC) by 16.7% during the first quarter, HoldingsChannel.com reports. The firm owned 154,100 shares of the real estate investment trust’s stock after buying an additional 22,100 shares during the period. Spirit Realty Capital accounts for about 4.6% of Real Estate Management Services LLC’s investment portfolio, making the stock its 8th largest holding. Real Estate Management Services LLC’s holdings in Spirit Realty Capital were worth $6,549,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SRC. Long Pond Capital LP bought a new stake in shares of Spirit Realty Capital during the fourth quarter valued at approximately $82,079,000. Norges Bank bought a new stake in shares of Spirit Realty Capital during the fourth quarter valued at approximately $53,199,000. BlackRock Inc. increased its position in shares of Spirit Realty Capital by 9.0% during the fourth quarter. BlackRock Inc. now owns 14,861,216 shares of the real estate investment trust’s stock valued at $596,976,000 after purchasing an additional 1,225,086 shares during the period. V3 Capital Management L.P. bought a new stake in shares of Spirit Realty Capital during the fourth quarter valued at approximately $20,323,000. Finally, Koshinski Asset Management Inc. bought a new stake in shares of Spirit Realty Capital during the fourth quarter valued at approximately $182,000. Institutional investors and hedge funds own 98.65% of the company’s stock.

Spirit Realty Capital stock traded down $0.03 on Thursday, reaching $46.15. The company’s stock had a trading volume of 2,153 shares, compared to its average volume of 834,218. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $5.31 billion, a price-to-earnings ratio of -577.18 and a beta of 1.17. The business’s fifty day moving average price is $43.03 and its 200 day moving average price is $39.04. Spirit Realty Capital, Inc. has a twelve month low of $23.88 and a twelve month high of $46.24.

Spirit Realty Capital (NYSE:SRC) last posted its quarterly earnings data on Thursday, February 18th. The real estate investment trust reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. The company had revenue of $128.60 million for the quarter, compared to analyst estimates of $118.87 million. Spirit Realty Capital had a return on equity of 0.07% and a net margin of 0.46%. The business’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.76 earnings per share. As a group, equities analysts forecast that Spirit Realty Capital, Inc. will post 2.8 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st were paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 5.42%. The ex-dividend date of this dividend was Tuesday, March 30th. Spirit Realty Capital’s dividend payout ratio (DPR) is presently 74.85%.

A number of research firms have recently issued reports on SRC. Morgan Stanley boosted their price objective on Spirit Realty Capital from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Wednesday. Truist Financial upped their price target on Spirit Realty Capital from $39.00 to $43.00 in a research report on Thursday, December 31st. Truist Securities upped their price target on Spirit Realty Capital from $43.00 to $48.00 in a research report on Monday, March 22nd. Zacks Investment Research cut Spirit Realty Capital from a “buy” rating to a “hold” rating in a research report on Friday, March 19th. Finally, UBS Group upgraded Spirit Realty Capital from a “sell” rating to a “neutral” rating in a research report on Thursday, March 4th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Spirit Realty Capital has an average rating of “Hold” and a consensus target price of $43.15.

Spirit Realty Capital Profile

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

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