Spirit Realty Capital, Inc. (NYSE:SRC) was downgraded by research analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a research report issued on Friday. They presently have a $9.00 price target on the real estate investment trust’s stock, down from their prior price target of $10.00. Robert W. Baird’s price target suggests a potential upside of 5.14% from the stock’s previous close.

A number of other analysts have also commented on the company. B. Riley reaffirmed a “buy” rating on shares of Spirit Realty Capital in a research report on Friday, November 3rd. SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $8.50 target price on shares of Spirit Realty Capital in a research report on Friday, November 3rd. Mizuho set a $9.00 target price on Spirit Realty Capital and gave the company a “buy” rating in a research report on Sunday, October 22nd. Deutsche Bank AG reaffirmed a “buy” rating and issued a $11.00 target price on shares of Spirit Realty Capital in a research report on Friday, October 20th. Finally, FBR & Co reaffirmed a “buy” rating on shares of Spirit Realty Capital in a research report on Friday, October 20th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $9.51.

Shares of Spirit Realty Capital (NYSE:SRC) opened at $8.56 on Friday. Spirit Realty Capital has a 12-month low of $6.64 and a 12-month high of $11.29. The company has a market capitalization of $3,929.83, a PE ratio of 10.14 and a beta of 0.56. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.59 and a quick ratio of 0.59.

Spirit Realty Capital declared that its Board of Directors has authorized a share repurchase program on Monday, August 14th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to reacquire up to 6.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Canada Pension Plan Investment Board boosted its stake in shares of Spirit Realty Capital by 104.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 165,900 shares of the real estate investment trust’s stock worth $1,229,000 after buying an additional 84,800 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Spirit Realty Capital by 49.8% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 591,951 shares of the real estate investment trust’s stock worth $4,386,000 after buying an additional 196,710 shares during the last quarter. Lasalle Investment Management Securities LLC boosted its stake in shares of Spirit Realty Capital by 52.2% in 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 last quarter. Goodwin Daniel L boosted its stake in shares of Spirit Realty Capital by 285.7% in the 2nd 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, Legal & General Group Plc boosted its stake in shares of Spirit Realty Capital by 9.3% in the 2nd quarter. Legal & General Group Plc now owns 1,386,221 shares of the real estate investment trust’s stock worth $10,272,000 after buying an additional 118,073 shares during the last quarter. Hedge funds and other institutional investors own 94.52% 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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