Mizuho upgraded shares of Spirit Realty Capital, Inc. (NYSE:SRC) from a neutral rating to a buy rating in a report published on Thursday. Mizuho currently has $9.00 price target on the real estate investment trust’s stock, up from their prior price target of $7.50.

SRC has been the subject of a number of other reports. Ladenburg Thalmann Financial Services downgraded Spirit Realty Capital from a buy rating to a neutral rating in a research note on Thursday, May 4th. BidaskClub raised Spirit Realty Capital from a strong sell rating to a sell rating in a research note on Tuesday, June 13th. Morgan Stanley downgraded Spirit Realty Capital from an overweight rating to an equal weight rating and dropped their price objective for the company from $11.50 to $8.40 in a research note on Tuesday, May 9th. Sandler O’Neill downgraded Spirit Realty Capital from a buy rating to a hold rating and dropped their price objective for the company from $13.00 to $9.00 in a research note on Thursday, May 4th. Finally, FBR & Co raised their price objective on Spirit Realty Capital from $8.00 to $13.00 and gave the company an outperform rating in a research note on Friday, May 5th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Hold and a consensus price target of $10.33.

Shares of Spirit Realty Capital (NYSE SRC) traded down 0.172% on Thursday, reaching $8.685. The company had a trading volume of 4,421,095 shares. The company’s 50-day moving average price is $8.18 and its 200 day moving average price is $8.78. Spirit Realty Capital has a 52 week low of $6.64 and a 52 week high of $13.95. The firm has a market capitalization of $3.98 billion, a P/E ratio of 65.795 and a beta of 0.55.

Spirit Realty Capital (NYSE:SRC) last issued its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The business had revenue of $168.65 million during the quarter, compared to the consensus estimate of $163.19 million. Spirit Realty Capital had a return on equity of 1.74% and a net margin of 9.47%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.22 EPS. On average, analysts expect that Spirit Realty Capital will post $0.21 EPS for the current year.

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Spirit Realty Capital declared that its board has approved a stock repurchase plan on Monday, August 14th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

In other Spirit Realty Capital news, CFO Phillip D. Joseph, Jr. bought 3,636 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were acquired at an average cost of $8.25 per share, with a total value of $29,997.00. Following the completion of the transaction, the chief financial officer now owns 138,504 shares in the company, valued at $1,142,658. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jackson Hsieh bought 13,400 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were acquired at an average cost of $7.45 per share, for a total transaction of $99,830.00. Following the completion of the transaction, the insider now owns 559,453 shares of the company’s stock, valued at approximately $4,167,924.85. The disclosure for this purchase can be found here. Insiders acquired 38,097 shares of company stock worth $306,960 over the last three months. 0.50% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in SRC. World Asset Management Inc raised its stake in shares of Spirit Realty Capital by 0.4% in the second quarter. World Asset Management Inc now owns 24,245 shares of the real estate investment trust’s stock worth $180,000 after buying an additional 108 shares during the last quarter. Cornerstone Wealth Management LLC raised its stake in shares of Spirit Realty Capital by 0.5% in the first quarter. Cornerstone Wealth Management LLC now owns 22,501 shares of the real estate investment trust’s stock worth $232,000 after buying an additional 120 shares during the last quarter. Lincoln National Corp raised its stake in shares of Spirit Realty Capital by 1.2% in the first quarter. Lincoln National Corp now owns 18,027 shares of the real estate investment trust’s stock worth $183,000 after buying an additional 218 shares during the last quarter. Investment Centers of America Inc. raised its stake in shares of 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 during the last quarter. Finally, 1st Global Advisors Inc. raised its stake in shares of Spirit Realty Capital by 1.1% in the first quarter. 1st Global Advisors Inc. now owns 38,296 shares of the real estate investment trust’s stock worth $388,000 after buying an additional 411 shares during the last quarter. 94.38% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Spirit Realty Capital (NYSE:SRC)

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