Spirit Realty Capital, Inc. (NYSE:SRC) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Spirit Realty Capital, Inc. (NYSE:SRCGet Rating) have been given an average rating of “Moderate Buy” by the eleven ratings firms that are presently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $51.22.

Several equities research analysts have commented on SRC shares. StockNews.com began coverage on shares of Spirit Realty Capital in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Truist Financial cut their price objective on shares of Spirit Realty Capital from $56.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, June 1st. Jefferies Financial Group cut their price target on shares of Spirit Realty Capital from $44.00 to $40.00 and set a “hold” rating for the company in a report on Thursday. Finally, JMP Securities began coverage on shares of Spirit Realty Capital in a research report on Tuesday, May 10th. They set an “outperform” rating and a $54.00 price objective on the stock.

A number of hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. acquired a new stake in Spirit Realty Capital in the 1st quarter worth approximately $26,000. AGF Investments LLC purchased a new position in shares of Spirit Realty Capital during the 4th quarter valued at approximately $36,000. Moors & Cabot Inc. purchased a new position in shares of Spirit Realty Capital during the 3rd quarter valued at approximately $41,000. Northwestern Mutual Wealth Management Co. grew its stake in Spirit Realty Capital by 67.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,003 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 403 shares during the period. Finally, Covestor Ltd grew its stake in Spirit Realty Capital by 255.6% in the 1st quarter. Covestor Ltd now owns 1,330 shares of the real estate investment trust’s stock valued at $61,000 after acquiring an additional 956 shares during the period. 97.40% of the stock is currently owned by institutional investors.

NYSE SRC opened at $38.93 on Wednesday. Spirit Realty Capital has a 1-year low of $35.79 and a 1-year high of $52.29. The company has a market cap of $5.23 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 4.38 and a beta of 1.22. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.79. The company has a 50 day moving average of $40.67 and a 200-day moving average of $44.54.

Spirit Realty Capital (NYSE:SRCGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.42). The company had revenue of $167.08 million for the quarter, compared to analyst estimates of $163.41 million. Spirit Realty Capital had a return on equity of 5.90% and a net margin of 35.32%. During the same quarter last year, the company posted $0.76 earnings per share. On average, equities research analysts forecast that Spirit Realty Capital will post 3.43 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be paid a $0.638 dividend. This represents a $2.55 annualized dividend and a dividend yield of 6.56%. The ex-dividend date of this dividend is Wednesday, June 29th. Spirit Realty Capital’s dividend payout ratio is currently 140.11%.

Spirit Realty Capital Company Profile (Get Rating)

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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Analyst Recommendations for Spirit Realty Capital (NYSE:SRC)

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