Spirit Realty Capital (NYSE:SRC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

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 brokerages have also recently commented on SRC. ValuEngine cut Spirit Realty Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. Raymond James cut Spirit Realty Capital from a “market perform” rating to an “underperform” rating in a research report on Thursday. Finally, Bank of America raised their price objective on Spirit Realty Capital from $8.00 to $8.25 and gave the company a “neutral” rating in a research report on Monday, September 10th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Spirit Realty Capital currently has a consensus rating of “Hold” and a consensus price target of $8.71.

Shares of NYSE SRC opened at $7.88 on Friday. Spirit Realty Capital has a 52 week low of $7.22 and a 52 week high of $8.84. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.78. The company has a market cap of $3.32 billion, a P/E ratio of 9.27 and a beta of 0.35.

Spirit Realty Capital shares are set to reverse split before the market opens on Thursday, December 13th. The 1-5 reverse split was announced on Tuesday, November 13th. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, December 12th.

Spirit Realty Capital (NYSE:SRC) last issued its quarterly earnings results on Monday, November 5th. The real estate investment trust reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. Spirit Realty Capital had a return on equity of 4.27% and a net margin of 20.95%. The firm had revenue of $109.64 million during the quarter, compared to analysts’ expectations of $101.43 million. During the same period in the prior year, the firm posted $0.21 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. As a group, equities research analysts anticipate that Spirit Realty Capital will post 0.72 EPS for the current year.

In other Spirit Realty Capital news, CFO Michael C. Hughes acquired 13,605 shares of the business’s stock in a transaction dated Friday, November 30th. The stock was bought at an average cost of $7.35 per share, with a total value of $99,996.75. Following the completion of the transaction, the chief financial officer now directly owns 103,525 shares in the company, valued at approximately $760,908.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jackson Hsieh sold 186,087 shares of the firm’s stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $7.81, for a total value of $1,453,339.47. Following the completion of the sale, the chief executive officer now directly owns 1,153,557 shares of the company’s stock, valued at $9,009,280.17. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. increased its stake in shares of Spirit Realty Capital by 41.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 3,597,028 shares of the real estate investment trust’s stock worth $28,885,000 after purchasing an additional 1,056,325 shares during the period. Chicago Equity Partners LLC increased its stake in shares of Spirit Realty Capital by 4,549.1% during the second quarter. Chicago Equity Partners LLC now owns 1,450,520 shares of the real estate investment trust’s stock worth $11,648,000 after purchasing an additional 1,419,320 shares during the period. First Trust Advisors LP increased its stake in shares of Spirit Realty Capital by 11.5% during the second quarter. First Trust Advisors LP now owns 272,082 shares of the real estate investment trust’s stock worth $2,185,000 after purchasing an additional 28,168 shares during the period. Kestrel Investment Management Corp increased its stake in shares of Spirit Realty Capital by 38.2% during the second quarter. Kestrel Investment Management Corp now owns 1,049,200 shares of the real estate investment trust’s stock worth $8,425,000 after purchasing an additional 289,900 shares during the period. Finally, California Public Employees Retirement System increased its stake in shares of Spirit Realty Capital by 2.8% during the second quarter. California Public Employees Retirement System now owns 1,348,031 shares of the real estate investment trust’s stock worth $10,825,000 after purchasing an additional 36,540 shares during the period. Institutional investors own 91.42% of the company’s stock.

Spirit Realty Capital Company Profile

Spirit Realty Capital, Inc (NYSE: SRC) is a premier net-lease REIT that primarily invests in high-quality, operationally essential real estate, subject to long-term net leases. Over the past decade, Spirit has become an industry leader and owner of income-producing, strategically located retail, industrial, office and data center properties.

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