Spirit Realty Capital, Inc (NYSE:SRC) was downgraded by research analysts at Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a research note issued on Thursday, May 4th.
Other equities research analysts have also issued research reports about the company. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of Spirit Realty Capital in a research report on Tuesday, March 21st. TheStreet lowered Spirit Realty Capital from a “b-” rating to a “c+” rating in a research report on Wednesday, March 15th. Zacks Investment Research raised Spirit Realty Capital from a “sell” rating to a “hold” rating in a research report on Friday, March 3rd. JPMorgan Chase & Co. lowered Spirit Realty Capital from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $13.00 to $9.00 in a research report on Thursday, May 4th. Finally, FBR & Co started coverage on Spirit Realty Capital in a research report on Wednesday, January 4th. They set an “outperform” rating and a $13.00 target price on the stock. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Spirit Realty Capital currently has a consensus rating of “Hold” and an average target price of $12.04.
Shares of Spirit Realty Capital (NYSE:SRC) traded down 0.14% during mid-day trading on Thursday, hitting $7.26. 2,816,302 shares of the stock were exchanged. Spirit Realty Capital has a 12 month low of $6.64 and a 12 month high of $13.97. The company has a 50-day moving average price of $9.22 and a 200-day moving average price of $10.33. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 40.33 and a beta of 0.52.
Spirit Realty Capital (NYSE:SRC) last announced its earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by $0.02. Spirit Realty Capital had a net margin of 16.77% and a return on equity of 3.17%. The firm had revenue of $163.19 million for the quarter, compared to analysts’ expectations of $169.84 million. Equities analysts expect that Spirit Realty Capital will post $0.25 earnings per share for the current year.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Prudential Financial Inc. increased its position in shares of Spirit Realty Capital by 3,886.7% in the first quarter. Prudential Financial Inc. now owns 7,934,149 shares of the real estate investment trust’s stock valued at $80,373,000 after buying an additional 7,735,135 shares during the period. Norges Bank acquired a new stake in Spirit Realty Capital during the fourth quarter worth $41,964,000. FMR LLC increased its stake in Spirit Realty Capital by 14.9% in the fourth quarter. FMR LLC now owns 21,545,517 shares of the real estate investment trust’s stock worth $233,985,000 after buying an additional 2,798,832 shares during the period. Weiss Multi Strategy Advisers LLC acquired a new stake in Spirit Realty Capital during the first quarter worth $25,325,000. Finally, KRV Capital LP acquired a new stake in Spirit Realty Capital during the first quarter worth $24,059,000. Institutional investors own 96.54% of the company’s stock.
About Spirit Realty Capital
Spirit Realty Capital, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company’s operations are carried out through Spirit Realty, L.P. (the Operating Partnership). The Company invests in single-tenant, operationally essential real estate throughout the United States that is leased on a long-term, triple-net basis primarily to tenants engaged in retail, service and distribution industries.
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