Spirit Realty Capital Inc (SRC) EVP Kenneth Heimlich Acquires 3,100 Shares

Spirit Realty Capital Inc (NYSE:SRC) EVP Kenneth Heimlich purchased 3,100 shares of the stock in a transaction dated Tuesday, June 12th. The shares were acquired at an average cost of $7.95 per share, for a total transaction of $24,645.00. Following the completion of the acquisition, the executive vice president now directly owns 58,600 shares of the company’s stock, valued at approximately $465,870. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Spirit Realty Capital traded up $0.18, reaching $8.13, during mid-day trading on Thursday, MarketBeat reports. 6,755,804 shares of the stock were exchanged, compared to its average volume of 6,228,058. The firm has a market cap of $3.38 billion, a P/E ratio of 9.56 and a beta of 0.48. Spirit Realty Capital Inc has a 1-year low of $7.22 and a 1-year high of $8.84. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.25.

Spirit Realty Capital (NYSE:SRC) last released its earnings results on Tuesday, May 1st. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. The firm had revenue of $165.30 million for the quarter, compared to analyst estimates of $165.12 million. Spirit Realty Capital had a return on equity of 3.53% and a net margin of 14.21%. Spirit Realty Capital’s revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.20 earnings per share. sell-side analysts expect that Spirit Realty Capital Inc will post 0.82 EPS for the current year.



The company also recently announced a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Friday, June 29th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 8.86%. The ex-dividend date of this dividend is Thursday, June 28th. Spirit Realty Capital’s payout ratio is currently 84.71%.

Large investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd boosted its position in shares of Spirit Realty Capital by 76.1% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 57,212 shares of the real estate investment trust’s stock valued at $444,000 after purchasing an additional 24,727 shares during the period. Principal Financial Group Inc. boosted its position in shares of Spirit Realty Capital by 4.8% in the 1st quarter. Principal Financial Group Inc. now owns 15,292,381 shares of the real estate investment trust’s stock valued at $118,670,000 after purchasing an additional 697,153 shares during the period. Xact Kapitalforvaltning AB boosted its position in shares of Spirit Realty Capital by 64.5% in the 1st quarter. Xact Kapitalforvaltning AB now owns 63,779 shares of the real estate investment trust’s stock valued at $495,000 after purchasing an additional 25,000 shares during the period. Legal & General Group Plc boosted its position in shares of Spirit Realty Capital by 11.1% in the 1st quarter. Legal & General Group Plc now owns 1,705,357 shares of the real estate investment trust’s stock valued at $13,234,000 after purchasing an additional 170,880 shares during the period. Finally, HG Vora Capital Management LLC acquired a new position in shares of Spirit Realty Capital in the 1st quarter valued at $65,960,000. 93.34% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have recently commented on SRC shares. Bank of America lowered Spirit Realty Capital from a “buy” rating to a “neutral” rating and set a $9.00 price target on the stock. in a report on Monday, February 26th. B. Riley reissued a “buy” rating on shares of Spirit Realty Capital in a report on Thursday, February 22nd. Zacks Investment Research lowered Spirit Realty Capital from a “hold” rating to a “sell” rating in a report on Thursday, March 15th. JPMorgan Chase & Co. lowered their price target on Spirit Realty Capital from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Tuesday, April 24th. Finally, ValuEngine lowered Spirit Realty Capital from a “hold” rating to a “sell” rating in a report on Saturday, June 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $9.08.

Spirit Realty Capital Company Profile

Spirit Realty Capital, Inc (NYSE: SRC) is a premier net-lease real estate investment trust (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 and office properties providing superior risk adjusted returns and steady dividend growth for our stockholders.

Receive News & Ratings for Spirit Realty Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit Realty Capital and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply