Zweig DiMenna Associates LLC Buys 26,857 Shares of Spirit Realty Capital, Inc. (SRC)
Zweig DiMenna Associates LLC increased its stake in Spirit Realty Capital, Inc. (NYSE:SRC) by 27.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 125,000 shares of the real estate investment trust’s stock after purchasing an additional 26,857 shares during the quarter. Zweig DiMenna Associates LLC’s holdings in Spirit Realty Capital were worth $1,071,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. New England Investment & Retirement Group Inc. purchased a new position in shares of Spirit Realty Capital in the second quarter valued at $100,000. Vivaldi Capital Management LLC purchased a new position in shares of Spirit Realty Capital in the second quarter valued at $111,000. PNC Financial Services Group Inc. grew its position in shares of Spirit Realty Capital by 24.0% in the first quarter. PNC Financial Services Group Inc. now owns 11,684 shares of the real estate investment trust’s stock valued at $119,000 after purchasing an additional 2,265 shares in the last quarter. Chicago Equity Partners LLC purchased a new position in shares of Spirit Realty Capital in the second quarter valued at $119,000. Finally, Harvest Fund Management Co. Ltd grew its position in shares of Spirit Realty Capital by 123.3% in the second quarter. Harvest Fund Management Co. Ltd now owns 16,662 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 9,200 shares in the last quarter. Institutional investors own 92.86% of the company’s stock.
Spirit Realty Capital, Inc. (NYSE SRC) traded down $0.06 on Monday, hitting $8.56. The stock had a trading volume of 4,535,900 shares, compared to its average volume of 10,538,602. Spirit Realty Capital, Inc. has a 1 year low of $6.64 and a 1 year high of $11.29. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a market cap of $3,902.48, a PE ratio of 10.07 and a beta of 0.56.
Spirit Realty Capital declared that its board has initiated a share repurchase program on Monday, August 14th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the real estate investment trust to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.
Several equities analysts have recently weighed in on SRC shares. ValuEngine cut Spirit Realty Capital from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. FBR & Co restated a “buy” rating on shares of Spirit Realty Capital in a research report on Friday, October 20th. SunTrust Banks, Inc. restated a “hold” rating and set a $8.50 target price on shares of Spirit Realty Capital in a research report on Friday, November 3rd. Zacks Investment Research upgraded Spirit Realty Capital from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a research report on Thursday, October 12th. Finally, Ladenburg Thalmann Financial Services restated a “hold” rating on shares of Spirit Realty Capital in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Spirit Realty Capital currently has a consensus rating of “Hold” and a consensus target price of $9.51.
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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.
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