Zacks Investment Research upgraded shares of Spirit Realty Capital (NYSE:SRC) from a sell rating to a hold rating in a research report report published on Friday morning.

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. “

A number of other research analysts have also recently commented on SRC. ValuEngine cut Spirit Realty Capital from a hold rating to a sell rating in a research report on Monday, July 2nd. BTIG Research cut Spirit Realty Capital from a buy rating to a neutral rating in a research report on Thursday, June 21st. TheStreet upgraded Spirit Realty Capital from a c rating to a b- rating in a research report on Wednesday, August 8th. Finally, Bank of America raised their price target on Spirit Realty Capital from $8.00 to $8.25 and gave the stock a neutral rating in a research report on Monday, September 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. Spirit Realty Capital currently has an average rating of Hold and an average price target of $9.00.

Shares of SRC traded up $0.10 during midday trading on Friday, reaching $7.90. 5,038,948 shares of the stock were exchanged, compared to its average volume of 5,803,551. Spirit Realty Capital has a twelve month low of $7.34 and a twelve month high of $8.84. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.53 and a current ratio of 0.53. The company has a market capitalization of $3.34 billion, a P/E ratio of 9.29 and a beta of 0.42.

Spirit Realty Capital (NYSE:SRC) last issued its quarterly earnings results on Tuesday, August 7th. The real estate investment trust reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.11). Spirit Realty Capital had a return on equity of 3.42% and a net margin of 14.77%. The company had revenue of $98.24 million during the quarter, compared to the consensus estimate of $104.88 million. On average, equities research analysts predict that Spirit Realty Capital will post 0.73 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 6.33%. The ex-dividend date was Thursday, September 27th. Spirit Realty Capital’s dividend payout ratio is presently 58.82%.

Institutional investors have recently added to or reduced their stakes in the business. First Hawaiian Bank bought a new position in Spirit Realty Capital in the third quarter valued at about $106,000. Clear Harbor Asset Management LLC bought a new position in Spirit Realty Capital in the second quarter valued at about $108,000. Virtu Financial LLC bought a new stake in shares of Spirit Realty Capital during the second quarter worth about $113,000. Trust Co. of Oklahoma bought a new stake in shares of Spirit Realty Capital during the second quarter worth about $117,000. Finally, Rehmann Capital Advisory Group grew its holdings in shares of Spirit Realty Capital by 324.1% during the second quarter. Rehmann Capital Advisory Group now owns 15,387 shares of the real estate investment trust’s stock worth $124,000 after purchasing an additional 11,759 shares during the last quarter. Hedge funds and other institutional investors own 91.85% of the company’s stock.

About Spirit Realty Capital

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 providing superior risk adjusted returns and steady dividend growth for our stockholders.

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