Spirit Realty Capital, Inc (SRC) PT Raised to $13.00

Spirit Realty Capital, Inc (NYSE:SRC) had its target price hoisted by equities research analysts at FBR & Co from $8.00 to $13.00 in a note issued to investors on Friday, May 5th. The firm presently has an “outperform” rating on the real estate investment trust’s stock. FBR & Co’s price target would indicate a potential upside of 79.06% from the company’s current price.

Several other research firms have also commented on SRC. Janney Montgomery Scott lowered Spirit Realty Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, May 4th. Ladenburg Thalmann Financial Services lowered Spirit Realty Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, May 4th. Zacks Investment Research lowered Spirit Realty Capital from a “hold” rating to a “sell” rating in a research report on Thursday, January 5th. Mizuho lowered Spirit Realty Capital from a “neutral” rating to an “underperform” rating in a research report on Thursday, May 4th. Finally, Capital One Financial Corp. downgraded Spirit Realty Capital from an “equal weight” rating to an “underweight” rating in a research note on Thursday, May 4th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $12.04.

Analyst Recommendations for Spirit Realty Capital (NYSE:SRC)

Spirit Realty Capital (NYSE:SRC) traded down 0.14% during mid-day trading on Friday, hitting $7.26. 11,492,078 shares of the stock traded hands. The company’s 50 day moving average price is $9.14 and its 200-day moving average price is $10.30. Spirit Realty Capital has a 1-year low of $6.64 and a 1-year high of $13.97. 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 released its quarterly earnings data on Wednesday, May 3rd. The real estate investment trust reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.02. Spirit Realty Capital had a return on equity of 3.17% and a net margin of 16.77%. The company had revenue of $163.19 million during the quarter, compared to analysts’ expectations of $169.84 million. Analysts predict that Spirit Realty Capital will post $0.25 earnings per share for the current year.

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Hedge funds have recently modified their holdings of the stock. Comerica Bank raised its position in Spirit Realty Capital by 87.6% in the fourth quarter. Comerica Bank now owns 38,087 shares of the real estate investment trust’s stock valued at $419,000 after buying an additional 17,782 shares during the last quarter. BlackRock Investment Management LLC raised its stake in shares of Spirit Realty Capital by 4.8% in the third quarter. BlackRock Investment Management LLC now owns 251,095 shares of the real estate investment trust’s stock valued at $3,347,000 after buying an additional 11,595 shares in the last quarter. BlackRock Advisors LLC raised its stake in shares of Spirit Realty Capital by 1.8% in the third quarter. BlackRock Advisors LLC now owns 269,549 shares of the real estate investment trust’s stock valued at $3,593,000 after buying an additional 4,652 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Spirit Realty Capital by 74.3% in the fourth quarter. AQR Capital Management LLC now owns 301,218 shares of the real estate investment trust’s stock valued at $3,271,000 after buying an additional 128,389 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Spirit Realty Capital during the fourth quarter valued at approximately $41,964,000. Institutional investors and hedge funds own 96.54% of the company’s stock.

Spirit Realty Capital Company Profile

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.

12 Month Chart for NYSE:SRC

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