Spirit Realty Capital, Inc. (SRC) CFO Phillip D. Joseph, Jr. Acquires 3,636 Shares
Spirit Realty Capital, Inc. (NYSE:SRC) CFO Phillip D. Joseph, Jr. bought 3,636 shares of the company’s stock in a transaction on Monday, August 7th. The shares were bought at an average price 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 legal filing with the SEC, which is available at this link.
Spirit Realty Capital, Inc. (NYSE:SRC) traded up 1.57% on Wednesday, hitting $8.43. 7,808,438 shares of the stock traded hands. The company’s 50 day moving average price is $7.70 and its 200-day moving average price is $9.09. The stock has a market cap of $4.08 billion, a price-to-earnings ratio of 46.83 and a beta of 0.55. Spirit Realty Capital, Inc. has a 52-week low of $6.64 and a 52-week high of $13.95.
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, beating analysts’ consensus estimates of $0.20 by $0.01. Spirit Realty Capital had a net margin of 9.47% and a return on equity of 1.74%. The company had revenue of $168.65 million for the quarter, compared to analysts’ expectations of $163.19 million. During the same quarter in the previous year, the company earned $0.22 EPS. Spirit Realty Capital’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, analysts forecast that Spirit Realty Capital, Inc. will post $0.23 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 8.54%. The ex-dividend date of this dividend was Wednesday, June 28th. Spirit Realty Capital’s dividend payout ratio (DPR) is 514.29%.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vivaldi Capital Management LLC purchased a new position in Spirit Realty Capital during the second quarter worth $111,000. Ffcm LLC boosted its position in Spirit Realty Capital by 191.8% in the second quarter. Ffcm LLC now owns 21,167 shares of the real estate investment trust’s stock worth $161,000 after buying an additional 13,914 shares during the period. Oppenheimer & Co. Inc. boosted its position in Spirit Realty Capital by 15.6% in the second quarter. Oppenheimer & Co. Inc. now owns 25,233 shares of the real estate investment trust’s stock worth $187,000 after buying an additional 3,400 shares during the period. Delta Lloyd Asset Management N.V. purchased a new position in Spirit Realty Capital during the second quarter worth $1,021,000. Finally, Swiss National Bank boosted its position in Spirit Realty Capital by 1.4% in the second quarter. Swiss National Bank now owns 808,273 shares of the real estate investment trust’s stock worth $5,989,000 after buying an additional 11,400 shares during the period. Institutional investors own 93.75% of the company’s stock.
Several equities research analysts have issued reports on the company. Ladenburg Thalmann Financial Services restated a “hold” rating on shares of Spirit Realty Capital in a research report on Friday, August 4th. Royal Bank Of Canada increased their target price on Spirit Realty Capital from $8.00 to $9.00 and gave the stock a “sector perform” rating in a research report on Friday, August 4th. BidaskClub upgraded Spirit Realty Capital from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research upgraded Spirit Realty Capital from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, Mizuho upgraded Spirit Realty Capital from an “underperform” rating to a “neutral” rating and set a $7.50 target price on the stock in a research report on Monday, July 10th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $11.34.
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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