Wall Street brokerages forecast that Spirit Realty Capital, Inc. (NYSE:SRC) will report $160.65 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Spirit Realty Capital’s earnings. The highest sales estimate is $164.09 million and the lowest is $159.60 million. Spirit Realty Capital reported sales of $165.23 million in the same quarter last year, which would suggest a negative year over year growth rate of 2.8%. The firm is scheduled to issue its next earnings report on Wednesday, November 1st.

On average, analysts expect that Spirit Realty Capital will report full year sales of $160.65 million for the current fiscal year, with estimates ranging from $644.08 million to $661.65 million. For the next financial year, analysts anticipate that the firm will post sales of $641.79 million per share, with estimates ranging from $612.01 million to $674.33 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Spirit Realty Capital.

Spirit Realty Capital (NYSE:SRC) last released its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The business had revenue of $168.65 million during the quarter, compared to analysts’ expectations of $163.19 million. Spirit Realty Capital had a return on equity of 1.74% and a net margin of 9.47%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.22 EPS.

A number of analysts recently weighed in on the stock. UBS AG cut shares of Spirit Realty Capital from a “buy” rating to a “neutral” rating and lowered their target price for the company from $12.00 to $9.00 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 lowered their target price for the company from $13.00 to $9.00 in a research note on Thursday, May 4th. 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. Mizuho cut shares of Spirit Realty Capital from a “neutral” rating to an “underperform” rating in a research note on Thursday, May 4th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $10.20.

Spirit Realty Capital (SRC) traded up 0.48% on Wednesday, hitting $8.40. The stock had a trading volume of 5,210,070 shares. The company’s 50-day moving average is $8.07 and its 200-day moving average is $8.85. The stock has a market cap of $3.85 billion, a P/E ratio of 63.64 and a beta of 0.55. Spirit Realty Capital has a one year low of $6.64 and a one year high of $13.95.

Spirit Realty Capital announced that its Board of Directors has authorized a stock buyback program on Monday, August 14th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to purchase up to 6.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

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In related news, CFO Phillip D. Joseph, Jr. bought 3,636 shares of Spirit Realty Capital stock in a transaction dated Monday, August 7th. The shares were bought at an average cost of $8.25 per share, for a total transaction 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 $1,142,658. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Phillip D. Joseph, Jr. bought 6,700 shares of Spirit Realty Capital stock in a transaction dated Friday, June 2nd. The shares were bought at an average price of $7.47 per share, for a total transaction of $50,049.00. Following the completion of the transaction, the chief financial officer now directly owns 134,868 shares of the company’s stock, valued at approximately $1,007,463.96. The disclosure for this purchase can be found here. Insiders have acquired 44,797 shares of company stock worth $357,009 over the last ninety days. Insiders own 0.50% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Global Financial Private Capital LLC bought a new position in shares of Spirit Realty Capital during the first quarter worth about $274,000. Oppenheimer & Co. Inc. bought a new position in shares of Spirit Realty Capital during the first quarter worth about $221,000. Schroder Investment Management Group raised its position in shares of Spirit Realty Capital by 16.4% in the first quarter. Schroder Investment Management Group now owns 44,267 shares of the real estate investment trust’s stock worth $444,000 after buying an additional 6,244 shares during the last quarter. Goodwin Daniel L raised its position in shares of Spirit Realty Capital by 285.7% in the second quarter. Goodwin Daniel L now owns 67,503 shares of the real estate investment trust’s stock worth $500,000 after buying an additional 50,000 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Spirit Realty Capital during the first quarter worth about $611,000. Institutional investors own 94.38% 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.

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Earnings History and Estimates for Spirit Realty Capital (NYSE:SRC)

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