Spirit Realty Capital, Inc. (NYSE:SRC) Expected to Announce Earnings of $0.73 Per Share


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Brokerages expect Spirit Realty Capital, Inc. (NYSE:SRC) to post earnings per share of $0.73 for the current quarter, according to Zacks. Three analysts have provided estimates for Spirit Realty Capital’s earnings. The highest EPS estimate is $0.74 and the lowest is $0.71. Spirit Realty Capital reported earnings per share of $0.78 during the same quarter last year, which suggests a negative year over year growth rate of 6.4%. The firm is expected to announce its next quarterly earnings results after the market closes on Wednesday, May 5th.

According to Zacks, analysts expect that Spirit Realty Capital will report full year earnings of $3.07 per share for the current fiscal year, with EPS estimates ranging from $3.05 to $3.10. For the next year, analysts expect that the firm will report earnings of $3.22 per share, with EPS estimates ranging from $3.15 to $3.24. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Spirit Realty Capital.

Spirit Realty Capital (NYSE:SRC) last issued its quarterly earnings data on Thursday, February 18th. The real estate investment trust reported $0.24 EPS for the quarter, beating the consensus estimate of $0.18 by $0.06. The firm had revenue of $128.60 million during the quarter, compared to the consensus estimate of $118.87 million. Spirit Realty Capital had a net margin of 0.46% and a return on equity of 0.07%. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.76 earnings per share.

SRC has been the topic of several research reports. UBS Group upgraded Spirit Realty Capital from a “sell” rating to a “neutral” rating in a research note on Thursday, March 4th. Truist boosted their price target on shares of Spirit Realty Capital from $43.00 to $48.00 in a research report on Monday, March 22nd. Raymond James boosted their target price on shares of Spirit Realty Capital from $41.00 to $46.00 and gave the company an “outperform” rating in a research note on Tuesday, January 12th. Mizuho increased their price target on shares of Spirit Realty Capital from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, April 19th. Finally, Truist Securities upped their price target on shares of Spirit Realty Capital from $43.00 to $48.00 in a research note on Monday, March 22nd. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Spirit Realty Capital presently has a consensus rating of “Hold” and a consensus price target of $44.00.

A number of hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. lifted its position in Spirit Realty Capital by 3.8% in the 4th quarter. Federated Hermes Inc. now owns 24,644 shares of the real estate investment trust’s stock worth $990,000 after buying an additional 896 shares in the last quarter. Real Estate Management Services LLC lifted its holdings in shares of Spirit Realty Capital by 16.7% during the 1st quarter. Real Estate Management Services LLC now owns 154,100 shares of the real estate investment trust’s stock worth $6,549,000 after acquiring an additional 22,100 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Spirit Realty Capital by 103.3% in the 4th quarter. JPMorgan Chase & Co. now owns 865,657 shares of the real estate investment trust’s stock valued at $34,774,000 after purchasing an additional 439,954 shares in the last quarter. Alpha Omega Wealth Management LLC increased its stake in shares of Spirit Realty Capital by 0.5% in the fourth quarter. Alpha Omega Wealth Management LLC now owns 115,442 shares of the real estate investment trust’s stock valued at $4,637,000 after buying an additional 608 shares in the last quarter. Finally, Semmax Financial Advisors Inc. grew its stake in shares of Spirit Realty Capital by 2.9% during the fourth quarter. Semmax Financial Advisors Inc. now owns 58,864 shares of the real estate investment trust’s stock valued at $2,365,000 after purchasing an additional 1,648 shares during the last quarter. 98.65% of the stock is owned by institutional investors.

Shares of SRC traded down $0.10 during trading hours on Thursday, hitting $47.14. The company had a trading volume of 677,979 shares, compared to its average volume of 823,213. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of -590.43 and a beta of 1.17. Spirit Realty Capital has a 52-week low of $23.88 and a 52-week high of $48.05. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a fifty day moving average price of $44.12 and a 200-day moving average price of $39.76.

The business also recently announced a quarterly dividend, which was paid on Thursday, April 15th. Shareholders of record on Wednesday, March 31st were paid a dividend of $0.625 per share. The ex-dividend date of this dividend was Tuesday, March 30th. This represents a $2.50 annualized dividend and a yield of 5.30%. Spirit Realty Capital’s payout ratio is 74.85%.

Spirit Realty Capital Company Profile

Spirit Realty Capital, Inc (NYSE: SRC) is a premier net-lease REIT that primarily invests in single-tenant, operationally essential real estate assets, subject to long-term leases. As of September 30, 2020, our diverse portfolio of 1,778 owned properties, with an aggregate leasable area of 37.2 million square feet in 48 states, included retail, industrial and office buildings leased to 296 tenants across 28 retail industries.

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