HGI Capital Management LLC Acquires Shares of 271,587 Spirit Realty Capital, Inc. (SRC)
HGI Capital Management LLC acquired a new position in shares of Spirit Realty Capital, Inc. (NYSE:SRC) during the second quarter, Holdings Channel reports. The firm acquired 271,587 shares of the real estate investment trust’s stock, valued at approximately $2,012,000. Spirit Realty Capital comprises approximately 2.5% of HGI Capital Management LLC’s investment portfolio, making the stock its 19th largest position.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Canada Pension Plan Investment Board raised its position in shares of Spirit Realty Capital by 104.6% in the second quarter. Canada Pension Plan Investment Board now owns 165,900 shares of the real estate investment trust’s stock worth $1,229,000 after buying an additional 84,800 shares during the last quarter. Blue Sky Asset Management LLC purchased a new position in shares of Spirit Realty Capital during the second quarter worth $507,000. New England Investment & Retirement Group Inc. purchased a new position in shares of Spirit Realty Capital during the second quarter worth $100,000. Independent Order of Foresters raised its position in shares of Spirit Realty Capital by 272.5% in the second quarter. Independent Order of Foresters now owns 82,015 shares of the real estate investment trust’s stock worth $608,000 after buying an additional 60,000 shares during the last quarter. Finally, Honeywell International Inc. purchased a new position in shares of Spirit Realty Capital during the second quarter worth $699,000. Institutional investors own 93.75% of the company’s stock.
Shares of Spirit Realty Capital, Inc. (NYSE SRC) opened at 8.43 on Thursday. The company has a 50-day moving average of $7.75 and a 200 day moving average of $9.02. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of 46.83 and a beta of 0.55. Spirit Realty Capital, Inc. has a one year low of $6.64 and a one year high of $13.95.
Spirit Realty Capital (NYSE:SRC) last released its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. Spirit Realty Capital had a return on equity of 1.74% and a net margin of 9.47%. The company had revenue of $168.65 million for the quarter, compared to the consensus estimate of $163.19 million. During the same period last year, the business posted $0.22 EPS. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. Equities research analysts forecast that Spirit Realty Capital, Inc. will post $0.22 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were given a $0.18 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $0.72 annualized dividend and a dividend yield of 8.54%. Spirit Realty Capital’s payout ratio is 514.29%.
Several research analysts have recently commented on the company. UBS AG lowered Spirit Realty Capital from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $12.00 to $9.00 in a report on Thursday, May 4th. Royal Bank Of Canada lifted their price target on Spirit Realty Capital from $8.00 to $9.00 and gave the stock a “sector perform” rating in a report on Friday, August 4th. Zacks Investment Research upgraded Spirit Realty Capital from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. BidaskClub upgraded Spirit Realty Capital from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Finally, Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of Spirit Realty Capital in a report on Friday, August 4th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $10.67.
In other news, EVP Boyd Messmann bought 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The stock was bought at an average price of $7.19 per share, for a total transaction of $71,900.00. Following the transaction, the executive vice president now owns 73,656 shares in the company, valued at $529,586.64. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jackson Hsieh bought 13,700 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The stock was purchased at an average price of $7.27 per share, with a total value of $99,599.00. Following the transaction, the insider now owns 546,053 shares in the company, valued at approximately $3,969,805.31. The disclosure for this purchase can be found here. In the last quarter, insiders bought 53,497 shares of company stock valued at $401,378. Insiders own 0.50% of the company’s stock.
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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