Zacks Investment Research upgraded shares of Spirit Realty Capital, Inc. (NYSE:SRC) from a sell rating to a hold rating in a report released on Thursday.

According to Zacks, “Spirit Realty Capital, Inc. is a real estate investment trust. It acquires single tenant, operationally essential real estate where the tenants conduct retail, service or distribution activities. The Company has investments throughout the United States. Its portfolio of properties is leased to tenants operating in different industries which includes restaurants; general, specialty and discount retailers; movie theatres; education facilities; health, fitness and recreational facilities; automotive dealers, parts and service facilities; and supermarkets. Spirit Realty Capital, Inc. is based in Scottsdale, Arizona. “

Several other research firms have also recently weighed in on SRC. Ladenburg Thalmann Financial Services cut shares of Spirit Realty Capital from a buy rating to a neutral rating in a research note on Thursday, May 4th. Sandler O’Neill cut shares of Spirit Realty Capital from a buy rating to a hold rating and decreased their target price for the company from $13.00 to $9.00 in a research note on Thursday, May 4th. Janney Montgomery Scott cut shares of Spirit Realty Capital from a buy rating to a neutral rating in a research note on Thursday, May 4th. Mizuho cut shares of Spirit Realty Capital from a neutral rating to an underperform rating in a research note on Thursday, May 4th. Finally, J P Morgan Chase & Co cut shares of Spirit Realty Capital from an overweight rating to a neutral rating and decreased their target price for the company from $13.00 to $9.00 in a research note on Thursday, May 4th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $11.53.

Shares of Spirit Realty Capital (SRC) traded down 0.25% during mid-day trading on Thursday, hitting $7.85. 5,645,711 shares of the stock were exchanged. The company has a market capitalization of $3.80 billion, a PE ratio of 43.61 and a beta of 0.53. The firm has a 50-day moving average price of $7.64 and a 200 day moving average price of $9.18. Spirit Realty Capital has a 12-month low of $6.64 and a 12-month high of $13.97.

Spirit Realty Capital (NYSE:SRC) last released its earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.22 by $0.02. Spirit Realty Capital had a net margin of 13.28% and a return on equity of 2.10%. The firm had revenue of $163.19 million during the quarter, compared to the consensus estimate of $169.84 million. On average, equities research analysts expect that Spirit Realty Capital will post $0.22 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: “Spirit Realty Capital, Inc. (NYSE:SRC) Upgraded at Zacks Investment Research” was originally posted by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another publication, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece can be viewed at https://www.watchlistnews.com/spirit-realty-capital-inc-nysesrc-upgraded-at-zacks-investment-research/1464246.html.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 9.15%. The ex-dividend date of this dividend was Wednesday, June 28th. Spirit Realty Capital’s dividend payout ratio is 378.97%.

In other news, EVP Boyd Messmann bought 10,000 shares of the company’s stock in a transaction dated Wednesday, May 24th. The stock was bought at an average price of $7.19 per share, with a total value of $71,900.00. Following the completion of the acquisition, the executive vice president now owns 73,656 shares of the company’s stock, valued at $529,586.64. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jackson Hsieh bought 13,700 shares of the company’s stock in a transaction dated Wednesday, May 24th. The shares were purchased at an average cost of $7.27 per share, with a total value of $99,599.00. Following the acquisition, the insider now directly owns 546,053 shares of the company’s stock, valued at approximately $3,969,805.31. The disclosure for this purchase can be found here. Insiders have acquired a total of 43,800 shares of company stock valued at $321,378 in the last ninety days. Insiders own 0.50% of the company’s stock.

Large investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC purchased a new stake in Spirit Realty Capital during the first quarter worth $109,000. Penserra Capital Management LLC increased its stake in Spirit Realty Capital by 51.5% in the first quarter. Penserra Capital Management LLC now owns 11,730 shares of the real estate investment trust’s stock worth $118,000 after buying an additional 3,986 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Spirit Realty Capital by 24.0% in the first quarter. PNC Financial Services Group Inc. now owns 11,684 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 2,265 shares in the last quarter. Toronto Dominion Bank purchased a new stake in Spirit Realty Capital during the first quarter worth $141,000. Finally, Investment Centers of America Inc. increased its stake in Spirit Realty Capital by 2.6% in the first quarter. Investment Centers of America Inc. now owns 13,850 shares of the real estate investment trust’s stock worth $141,000 after buying an additional 350 shares in the last quarter. 99.93% of the stock is owned by institutional investors.

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.

Get a free copy of the Zacks research report on Spirit Realty Capital (SRC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Spirit Realty Capital (NYSE:SRC)

Receive News & Ratings for Spirit Realty Capital Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit Realty Capital Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.