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.
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.
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