Permian Investment Partners LP bought a new position in Spirit Realty Capital, Inc (NYSE:SRC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,899,704 shares of the real estate investment trust’s stock, valued at approximately $16,280,000. Spirit Realty Capital makes up 2.6% of Permian Investment Partners LP’s portfolio, making the stock its 13th biggest holding. Permian Investment Partners LP owned approximately 0.42% of Spirit Realty Capital at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Canada Pension Plan Investment Board lifted its holdings in Spirit Realty Capital by 104.6% during the 2nd 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 in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in Spirit Realty Capital by 49.8% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 591,951 shares of the real estate investment trust’s stock worth $4,386,000 after buying an additional 196,710 shares in the last quarter. Lasalle Investment Management Securities LLC lifted its holdings in Spirit Realty Capital by 52.2% during the 2nd quarter. Lasalle Investment Management Securities LLC now owns 22,481,416 shares of the real estate investment trust’s stock worth $166,587,000 after buying an additional 7,707,615 shares in the last quarter. Legal & General Group Plc lifted its holdings in Spirit Realty Capital by 9.3% during the 2nd quarter. Legal & General Group Plc now owns 1,386,221 shares of the real estate investment trust’s stock worth $10,272,000 after buying an additional 118,073 shares in the last quarter. Finally, Gruss Capital Management LP acquired a new position in Spirit Realty Capital during the 2nd quarter worth $35,012,000. 92.68% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have issued reports on SRC. B. Riley reaffirmed a “buy” rating on shares of Spirit Realty Capital in a report on Friday, November 3rd. Zacks Investment Research downgraded Spirit Realty Capital from a “hold” rating to a “sell” rating in a report on Tuesday, August 15th. BidaskClub raised Spirit Realty Capital from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 17th. FBR & Co reaffirmed a “buy” rating on shares of Spirit Realty Capital in a report on Friday, October 20th. Finally, Bank of America raised Spirit Realty Capital from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $6.50 to $9.75 in a report on Wednesday, August 16th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $9.47.

Shares of Spirit Realty Capital, Inc (NYSE SRC) traded up $0.05 during trading on Friday, hitting $8.36. 2,996,600 shares of the company’s stock traded hands, compared to its average volume of 10,084,885. The company has a market cap of $3,788.50, a PE ratio of 9.78 and a beta of 0.56. Spirit Realty Capital, Inc has a 52 week low of $6.64 and a 52 week high of $11.29. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.19.

Spirit Realty Capital announced that its Board of Directors has approved a stock repurchase plan on Monday, August 14th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the real estate investment trust to reacquire up to 6.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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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.

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

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