Analysts Expect Spirit Realty Capital, Inc. (NYSE:SRC) Will Announce Earnings of $0.73 Per Share


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Wall Street analysts predict that Spirit Realty Capital, Inc. (NYSE:SRC) will announce earnings per share (EPS) of $0.73 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Spirit Realty Capital’s earnings, with the lowest EPS estimate coming in at $0.71 and the highest estimate coming in at $0.74. Spirit Realty Capital reported earnings of $0.78 per share during the same quarter last year, which suggests a negative year over year growth rate of 6.4%. The business is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, May 5th.

On average, analysts expect that Spirit Realty Capital will report full year earnings of $3.07 per share for the current year, with EPS estimates ranging from $3.05 to $3.10. For the next financial year, analysts expect that the firm will post earnings of $3.22 per share, with EPS estimates ranging from $3.15 to $3.24. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Spirit Realty Capital.

Spirit Realty Capital (NYSE:SRC) last issued its quarterly earnings data on Thursday, February 18th. The real estate investment trust reported $0.24 EPS for the quarter, beating the consensus estimate of $0.18 by $0.06. Spirit Realty Capital had a net margin of 0.46% and a return on equity of 0.07%. The company had revenue of $128.60 million during the quarter, compared to analysts’ expectations of $118.87 million. During the same quarter in the previous year, the company earned $0.76 earnings per share. Spirit Realty Capital’s revenue for the quarter was up 5.9% on a year-over-year basis.

Several research firms have weighed in on SRC. UBS Group raised Spirit Realty Capital from a “sell” rating to a “neutral” rating in a report on Thursday, March 4th. Raymond James raised their price objective on shares of Spirit Realty Capital from $41.00 to $46.00 and gave the company an “outperform” rating in a research report on Tuesday, January 12th. Morgan Stanley upped their target price on shares of Spirit Realty Capital from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 21st. Zacks Investment Research cut Spirit Realty Capital from a “buy” rating to a “hold” rating in a report on Friday, March 19th. Finally, Truist Securities raised their price objective on Spirit Realty Capital from $43.00 to $48.00 in a report on Monday, March 22nd. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Spirit Realty Capital presently has a consensus rating of “Hold” and an average price target of $44.00.

Shares of SRC stock traded down $0.10 on Thursday, reaching $47.14. The company’s stock had a trading volume of 677,979 shares, compared to its average volume of 823,213. Spirit Realty Capital has a 12-month low of $23.88 and a 12-month high of $48.05. The stock’s 50 day simple moving average is $44.12 and its 200-day simple moving average is $39.76. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $5.42 billion, a P/E ratio of -590.43 and a beta of 1.17.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 15th. Shareholders of record on Wednesday, March 31st were paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 5.30%. The ex-dividend date of this dividend was Tuesday, March 30th. Spirit Realty Capital’s payout ratio is 74.85%.

Large investors have recently bought and sold shares of the company. BlackRock Inc. lifted its position in Spirit Realty Capital by 9.0% during the 4th quarter. BlackRock Inc. now owns 14,861,216 shares of the real estate investment trust’s stock worth $596,976,000 after acquiring an additional 1,225,086 shares during the period. Long Pond Capital LP acquired a new stake in shares of Spirit Realty Capital during the 4th quarter worth approximately $82,079,000. Duff & Phelps Investment Management Co. grew its holdings in shares of Spirit Realty Capital by 15.9% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 1,810,530 shares of the real estate investment trust’s stock valued at $72,729,000 after purchasing an additional 249,038 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Spirit Realty Capital by 4.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,793,427 shares of the real estate investment trust’s stock valued at $72,043,000 after purchasing an additional 73,689 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Spirit Realty Capital by 7.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,463,427 shares of the real estate investment trust’s stock worth $58,786,000 after acquiring an additional 106,903 shares in the last quarter. Institutional investors and hedge funds own 98.65% of the company’s stock.

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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