Spirit Realty Capital, Inc. (SRC) Expected to Post Quarterly Sales of $162.82 Million

Equities analysts predict that Spirit Realty Capital, Inc. (NYSE:SRC) will post sales of $162.82 million for the current quarter, according to Zacks. Five analysts have made estimates for Spirit Realty Capital’s earnings. The lowest sales estimate is $159.20 million and the highest is $166.41 million. Spirit Realty Capital reported sales of $173.38 million in the same quarter last year, which indicates a negative year over year growth rate of 6.1%. The company is scheduled to announce its next quarterly earnings report on Wednesday, February 28th.

On average, analysts expect that Spirit Realty Capital will report full year sales of $162.82 million for the current year, with estimates ranging from $650.00 million to $667.08 million. For the next financial year, analysts forecast that the business will post sales of $648.69 million per share, with estimates ranging from $625.77 million to $668.99 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Spirit Realty Capital.

SRC has been the topic of several recent research reports. ValuEngine lowered shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. FBR & Co restated a “buy” rating on shares of Spirit Realty Capital in a research report on Friday, October 20th. SunTrust Banks, Inc. restated a “hold” rating and issued a $8.50 price target on shares of Spirit Realty Capital in a research report on Friday, November 3rd. Zacks Investment Research upgraded shares of Spirit Realty Capital from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a research report on Thursday, October 12th. Finally, Ladenburg Thalmann Financial Services restated a “hold” rating on shares of Spirit Realty Capital in a research report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $9.47.

Spirit Realty Capital (NYSE SRC) traded up $0.06 during trading on Tuesday, reaching $8.62. 4,419,900 shares of the company’s stock traded hands, compared to its average volume of 10,510,662. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market capitalization of $3,930.00, a price-to-earnings ratio of 10.07 and a beta of 0.16. Spirit Realty Capital has a 12-month low of $6.64 and a 12-month high of $11.29.

Spirit Realty Capital declared that its Board of Directors has approved a stock repurchase program on Monday, August 14th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to buy up to 6.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. World Asset Management Inc increased its holdings in shares of Spirit Realty Capital by 0.4% during the 2nd quarter. World Asset Management Inc now owns 24,245 shares of the real estate investment trust’s stock worth $180,000 after purchasing an additional 108 shares during the period. Lincoln National Corp increased its holdings in shares of Spirit Realty Capital by 1.3% during the 2nd quarter. Lincoln National Corp now owns 18,259 shares of the real estate investment trust’s stock worth $136,000 after purchasing an additional 232 shares during the period. Telos Capital Management Inc. increased its holdings in shares of Spirit Realty Capital by 1.0% during the 2nd quarter. Telos Capital Management Inc. now owns 49,633 shares of the real estate investment trust’s stock worth $368,000 after purchasing an additional 510 shares during the period. State of Wisconsin Investment Board increased its holdings in shares of Spirit Realty Capital by 0.8% during the 2nd quarter. State of Wisconsin Investment Board now owns 96,460 shares of the real estate investment trust’s stock worth $715,000 after purchasing an additional 780 shares during the period. Finally, Arete Wealth Advisors LLC increased its holdings in shares of Spirit Realty Capital by 12.5% during the 2nd quarter. Arete Wealth Advisors LLC now owns 16,583 shares of the real estate investment trust’s stock worth $123,000 after purchasing an additional 1,838 shares during the period. Hedge funds and other institutional investors own 92.86% of the company’s stock.

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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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Earnings History and Estimates for Spirit Realty Capital (NYSE:SRC)

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