Spirit Realty Capital Inc. (SRC) Shares Sold by Westpac Banking Corp
Westpac Banking Corp decreased its stake in shares of Spirit Realty Capital Inc. (NYSE:SRC) by 47.5% during the second quarter, Holdings Channel reports. The institutional investor owned 355,979 shares of the real estate investment trust’s stock after selling 322,321 shares during the period. Westpac Banking Corp owned about 0.07% of Spirit Realty Capital worth $4,546,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Bayesian Capital Management LP purchased a new position in shares of Spirit Realty Capital during the first quarter valued at approximately $119,000. Boothbay Fund Management LLC purchased a new position in shares of Spirit Realty Capital during the first quarter valued at approximately $127,000. National Planning Corp purchased a new position in shares of Spirit Realty Capital during the first quarter valued at approximately $133,000. Acadian Asset Management LLC purchased a new position in shares of Spirit Realty Capital during the second quarter valued at approximately $137,000. Finally, New England Investment & Retirement Group Inc. purchased a new position in shares of Spirit Realty Capital during the second quarter valued at approximately $139,000. Hedge funds and other institutional investors own 95.35% of the company’s stock.
Shares of Spirit Realty Capital Inc. (NYSE:SRC) opened at 13.62 on Thursday. The stock’s 50 day moving average price is $13.26 and its 200-day moving average price is $12.20. Spirit Realty Capital Inc. has a 52 week low of $8.90 and a 52 week high of $13.97. The stock has a market cap of $6.53 billion, a price-to-earnings ratio of 60.80 and a beta of 0.54.
Spirit Realty Capital (NYSE:SRC) last announced its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.01. Spirit Realty Capital had a return on equity of 2.91% and a net margin of 15.36%. The business had revenue of $171.70 million for the quarter, compared to analyst estimates of $164.29 million. During the same quarter in the prior year, the company posted $0.22 EPS. The company’s quarterly revenue was up 2.3% on a year-over-year basis. Equities analysts anticipate that Spirit Realty Capital Inc. will post $0.88 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 5.23%. The ex-dividend date is Wednesday, September 28th. Spirit Realty Capital’s dividend payout ratio (DPR) is presently 304.36%.
Several equities analysts have recently commented on the company. Zacks Investment Research lowered Spirit Realty Capital from a “buy” rating to a “hold” rating in a research note on Friday, August 12th. Janney Montgomery Scott assumed coverage on Spirit Realty Capital in a research note on Wednesday, September 7th. They set a “buy” rating and a $14.50 price target on the stock. They noted that the move was a valuation call. Wunderlich raised their price target on Spirit Realty Capital from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, August 9th. BTIG Research assumed coverage on Spirit Realty Capital in a research note on Thursday, August 25th. They set a “buy” rating and a $15.00 price target on the stock. Finally, Morgan Stanley upgraded Spirit Realty Capital from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $11.00 to $15.00 in a research note on Wednesday, September 7th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $13.05.
In other news, CEO Thomas H. Nolan, Jr. sold 15,000 shares of the company’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $13.23, for a total value of $198,450.00. Following the transaction, the chief executive officer now owns 858,186 shares of the company’s stock, valued at approximately $11,353,800.78. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.50% of the stock is owned by insiders.
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.
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