Private Advisor Group LLC Cuts Stake in Spirit Realty Capital, Inc. (SRC)
Private Advisor Group LLC decreased its holdings in Spirit Realty Capital, Inc. (NYSE:SRC) by 8.8% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 58,740 shares of the real estate investment trust’s stock after selling 5,642 shares during the period. Private Advisor Group LLC’s holdings in Spirit Realty Capital were worth $430,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Vivaldi Capital Management LLC purchased a new stake in shares of Spirit Realty Capital in the 2nd quarter valued at $111,000. Ffcm LLC boosted its stake in shares of Spirit Realty Capital by 191.8% in the 2nd quarter. Ffcm LLC now owns 21,167 shares of the real estate investment trust’s stock valued at $161,000 after purchasing an additional 13,914 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Spirit Realty Capital by 15.6% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 25,233 shares of the real estate investment trust’s stock valued at $187,000 after purchasing an additional 3,400 shares in the last quarter. Delta Lloyd Asset Management N.V. purchased a new stake in shares of Spirit Realty Capital in the 2nd quarter valued at $1,021,000. Finally, Swiss National Bank boosted its stake in shares of Spirit Realty Capital by 1.4% in the 2nd quarter. Swiss National Bank now owns 808,273 shares of the real estate investment trust’s stock valued at $5,989,000 after purchasing an additional 11,400 shares in the last quarter. 94.38% of the stock is owned by institutional investors.
In other Spirit Realty Capital news, Director Todd A. Dunn bought 14,000 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was acquired at an average cost of $8.49 per share, for a total transaction of $118,860.00. Following the completion of the transaction, the director now owns 64,560 shares in the company, valued at $548,114.40. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Phillip D. Joseph, Jr. bought 3,636 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were acquired at an average price of $8.25 per share, with a total value of $29,997.00. Following the completion of the transaction, the chief financial officer now owns 138,504 shares of the company’s stock, valued at approximately $1,142,658. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 24,697 shares of company stock valued at $207,130. Corporate insiders own 0.50% of the company’s stock.
Spirit Realty Capital, Inc. (NYSE SRC) opened at 8.74 on Friday. Spirit Realty Capital, Inc. has a one year low of $6.64 and a one year high of $13.86. The firm has a 50-day moving average of $8.44 and a 200 day moving average of $8.63. The company has a market capitalization of $4.01 billion, a price-to-earnings ratio of 66.21 and a beta of 0.53.
Spirit Realty Capital (NYSE:SRC) last released its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.21 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $168.65 million during the quarter, compared to the consensus estimate of $163.19 million. During the same period last year, the company earned $0.22 earnings per share. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. Equities research analysts predict that Spirit Realty Capital, Inc. will post $0.21 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.72 annualized dividend and a dividend yield of 8.24%. Spirit Realty Capital’s dividend payout ratio (DPR) is 514.29%.
Spirit Realty Capital announced that its board has authorized a stock repurchase plan on Monday, August 14th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the real estate investment trust to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
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A number of equities research analysts have recently issued reports on SRC shares. BidaskClub raised shares of Spirit Realty Capital from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. ValuEngine cut shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Ladenburg Thalmann Financial Services reaffirmed a “hold” rating on shares of Spirit Realty Capital in a research note on Friday, August 4th. Royal Bank Of Canada upped their price objective on shares of Spirit Realty Capital from $8.00 to $9.00 and gave the company a “sector perform” rating in a research note on Friday, August 4th. Finally, Zacks Investment Research raised shares of Spirit Realty Capital from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $9.92.
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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