Parametric Portfolio Associates LLC boosted its position in shares of Spirit Realty Capital Inc (NYSE:SRC) by 4.3% in the first quarter, Holdings Channel reports. The fund owned 296,172 shares of the real estate investment trust’s stock after purchasing an additional 12,175 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Spirit Realty Capital were worth $11,767,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can boosted its stake in shares of Spirit Realty Capital by 805.2% during the fourth quarter. Bank of Montreal Can now owns 22,847 shares of the real estate investment trust’s stock worth $805,000 after buying an additional 20,323 shares during the period. Canada Pension Plan Investment Board increased its holdings in Spirit Realty Capital by 60.3% in the fourth quarter. Canada Pension Plan Investment Board now owns 474,670 shares of the real estate investment trust’s stock valued at $16,731,000 after buying an additional 178,470 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd increased its holdings in Spirit Realty Capital by 129.0% in the fourth quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 501,501 shares of the real estate investment trust’s stock valued at $17,677,000 after buying an additional 282,497 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in Spirit Realty Capital in the fourth quarter valued at about $554,000. Finally, Massachusetts Financial Services Co. MA purchased a new position in Spirit Realty Capital in the fourth quarter valued at about $38,319,000. Institutional investors own 90.61% of the company’s stock.
A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Spirit Realty Capital from $41.00 to $44.00 and gave the company a “neutral” rating in a report on Tuesday, June 4th. ValuEngine raised shares of Spirit Realty Capital from a “hold” rating to a “buy” rating in a report on Monday, June 3rd. Zacks Investment Research raised shares of Spirit Realty Capital from a “sell” rating to a “hold” rating in a report on Wednesday, May 15th. Finally, Deutsche Bank cut shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Spirit Realty Capital currently has a consensus rating of “Hold” and an average price target of $42.00.
Spirit Realty Capital (NYSE:SRC) last issued its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.48 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.33). Spirit Realty Capital had a return on equity of 5.82% and a net margin of 31.91%. The business had revenue of $112.59 million for the quarter, compared to analysts’ expectations of $104.71 million. During the same period last year, the business earned $1.07 earnings per share. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities analysts expect that Spirit Realty Capital Inc will post 3.19 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.64%. The ex-dividend date of this dividend is Thursday, June 27th. Spirit Realty Capital’s dividend payout ratio is presently 66.14%.
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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.
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