Magnetar Financial LLC Buys New Holdings in Spirit Realty Capital, Inc (SRC)

Magnetar Financial LLC bought a new position in shares of Spirit Realty Capital, Inc (NYSE:SRC) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 632,732 shares of the real estate investment trust’s stock, valued at approximately $5,423,000. Magnetar Financial LLC owned 0.14% of Spirit Realty Capital at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in SRC. Vivaldi Capital Management LLC acquired a new position in shares of Spirit Realty Capital in the 2nd quarter valued at about $111,000. Chicago Equity Partners LLC acquired a new position in shares of Spirit Realty Capital in the 2nd quarter valued at about $119,000. Harvest Fund Management Co. Ltd lifted its stake in shares of Spirit Realty Capital by 123.3% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 16,662 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 9,200 shares during the period. Arete Wealth Advisors LLC lifted its stake in shares of Spirit Realty Capital by 12.5% in the 2nd quarter. Arete Wealth Advisors LLC now owns 16,583 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 1,838 shares during the period. Finally, Lincoln National Corp lifted its stake in shares of Spirit Realty Capital by 1.3% in the 2nd quarter. Lincoln National Corp now owns 18,259 shares of the real estate investment trust’s stock valued at $136,000 after purchasing an additional 232 shares during the period. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

Spirit Realty Capital, Inc (NYSE:SRC) traded down $0.06 during mid-day trading on Thursday, reaching $8.31. The company had a trading volume of 4,767,800 shares, compared to its average volume of 10,115,048. Spirit Realty Capital, Inc has a fifty-two week low of $6.64 and a fifty-two week high of $11.29. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.19. The firm has a market cap of $3,790.00, a P/E ratio of 9.85 and a beta of 0.17.

Spirit Realty Capital declared that its board has authorized a share repurchase program on Monday, August 14th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to repurchase up to 6.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.

SRC has been the topic of a number of recent analyst reports. ValuEngine downgraded Spirit Realty Capital from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. SunTrust Banks reissued a “hold” rating and issued a $8.50 price objective on shares of Spirit Realty Capital in a research note on Friday, November 3rd. FBR & Co reissued a “buy” rating on shares of Spirit Realty Capital in a research note on Friday, October 20th. Zacks Investment Research raised Spirit Realty Capital from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a research note on Thursday, October 12th. Finally, Deutsche Bank reissued a “buy” rating and issued a $11.00 price objective on shares of Spirit Realty Capital in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Spirit Realty Capital presently has an average rating of “Hold” and a consensus target price of $9.47.

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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.

Institutional Ownership by Quarter for Spirit Realty Capital (NYSE:SRC)

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