Ladenburg Thalmann Financial Services Downgrades Spirit Realty Capital, Inc (SRC) to Neutral

Spirit Realty Capital, Inc (NYSE:SRC) was downgraded by research analysts at Ladenburg Thalmann Financial Services from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday, May 4th.

Several other equities research analysts have also recently weighed in on SRC. FBR & Co initiated coverage on Spirit Realty Capital in a research note on Wednesday, January 4th. They set an “outperform” rating and a $13.00 target price for the company. Zacks Investment Research lowered Spirit Realty Capital from a “hold” rating to a “sell” rating in a research report on Thursday, January 5th. TheStreet lowered Spirit Realty Capital from a “b-” rating to a “c+” rating in a research report on Wednesday, March 15th. JPMorgan Chase & Co. lowered Spirit Realty Capital from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $13.00 to $9.00 in a research report on Thursday, May 4th. Finally, Janney Montgomery Scott lowered Spirit Realty Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, May 4th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. Spirit Realty Capital has an average rating of “Hold” and an average price target of $12.04.

Analyst Recommendations for Spirit Realty Capital (NYSE:SRC)

Spirit Realty Capital (NYSE:SRC) last posted its earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.22 by $0.02. The business had revenue of $163.19 million for the quarter, compared to analysts’ expectations of $169.84 million. Spirit Realty Capital had a return on equity of 3.17% and a net margin of 16.77%.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in SRC. Rhumbline Advisers increased its stake in Spirit Realty Capital by 10.0% in the third quarter. Rhumbline Advisers now owns 412,180 shares of the real estate investment trust’s stock worth $5,494,000 after buying an additional 37,616 shares during the period. BlackRock Investment Management LLC increased its stake in 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 worth $3,347,000 after buying an additional 11,595 shares during the period. BlackRock Advisors LLC increased its stake in 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 worth $3,593,000 after buying an additional 4,652 shares during the period. US Bancorp DE increased its stake in Spirit Realty Capital by 800.8% in the third quarter. US Bancorp DE now owns 26,374 shares of the real estate investment trust’s stock worth $351,000 after buying an additional 23,446 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in Spirit Realty Capital by 6.4% in the third quarter. Daiwa Securities Group Inc. now owns 24,993,950 shares of the real estate investment trust’s stock worth $333,169,000 after buying an additional 1,500,450 shares during the period. 96.54% of the stock is currently owned by institutional investors and hedge funds.

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.

12 Month Chart for NYSE:SRC

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