Spirit Realty Capital, Inc. (NYSE:SRC)‘s stock had its “buy” rating reiterated by equities research analysts at Robert W. Baird in a report issued on Friday. They currently have a $10.00 price target on the real estate investment trust’s stock. Robert W. Baird’s price objective would suggest a potential upside of 20.92% from the company’s previous close.

A number of other analysts have also weighed in on SRC. Zacks Investment Research lowered Spirit Realty Capital from a “buy” rating to a “hold” rating in a research note on Wednesday. Royal Bank Of Canada raised their target price on 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. BidaskClub upgraded Spirit Realty Capital from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 17th. Ladenburg Thalmann Financial Services restated a “hold” rating on shares of Spirit Realty Capital in a research note on Friday, August 4th. Finally, Mizuho upgraded Spirit Realty Capital from an “underperform” rating to a “neutral” rating and set a $7.50 target price for the company in a research note on Monday, July 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $9.60.

Spirit Realty Capital (NYSE SRC) opened at 8.27 on Friday. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 62.65 and a beta of 0.53. The company has a 50-day moving average of $8.57 and a 200-day moving average of $8.32. Spirit Realty Capital has a 12 month low of $6.64 and a 12 month high of $12.66.

Spirit Realty Capital (NYSE:SRC) last announced its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.21 earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $168.65 million during the quarter, compared to analyst estimates of $163.19 million. During the same period last year, the company posted $0.22 earnings per share. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. Analysts predict that Spirit Realty Capital will post $0.21 EPS for the current year.

Spirit Realty Capital announced that its Board of Directors has approved a share buyback program 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 programs are usually an indication that the company’s leadership believes its shares are undervalued.

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In related news, CFO Phillip D. Joseph, Jr. bought 3,636 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was bought at an average cost of $8.25 per share, for a total transaction of $29,997.00. Following the transaction, the chief financial officer now owns 138,504 shares of the company’s stock, valued at $1,142,658. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Todd A. Dunn bought 14,000 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were bought at an average price of $8.49 per share, with a total value of $118,860.00. Following the completion of the transaction, the director now directly owns 64,560 shares in the company, valued at approximately $548,114.40. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 24,697 shares of company stock valued at $207,130. Corporate insiders own 0.50% of the company’s stock.

Several institutional investors have recently bought and sold shares of SRC. Lasalle Investment Management Securities LLC grew its position in shares of 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 during the period. V3 Capital Management L.P. grew its position in shares of Spirit Realty Capital by 96.9% during the 2nd quarter. V3 Capital Management L.P. now owns 9,642,585 shares of the real estate investment trust’s stock worth $71,452,000 after buying an additional 4,745,800 shares during the period. Gruss Capital Management LP acquired a new position in shares of Spirit Realty Capital during the 2nd quarter worth about $35,012,000. Prudential Financial Inc. grew its position in shares of Spirit Realty Capital by 55.5% during the 2nd quarter. Prudential Financial Inc. now owns 12,337,803 shares of the real estate investment trust’s stock worth $91,423,000 after buying an additional 4,403,654 shares during the period. Finally, Davidson Kempner Capital Management LP acquired a new position in shares of Spirit Realty Capital during the 2nd quarter worth about $30,863,000. Institutional investors own 94.51% 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.

Analyst Recommendations for Spirit Realty Capital (NYSE:SRC)

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