Spirit Realty Capital (NYSE:SRC) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Spirit Realty Capital (NYSE:SRC) from a hold rating to a sell rating in a report released on Thursday, Zacks.com reports.

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. “

Several other equities analysts have also recently commented on SRC. JPMorgan Chase & Co. initiated coverage on shares of INTL CONS AIRL/S in a research note on Tuesday, June 4th. They set an overweight rating for the company. Deutsche Bank cut shares of Ontex Group from a buy rating to a hold rating in a research note on Wednesday, May 8th. Morgan Stanley upped their target price on shares of Williams-Sonoma from $52.00 to $56.00 and gave the company an underweight rating in a research note on Wednesday, July 10th. Finally, ValuEngine upgraded shares of Zogenix from a buy rating to a strong-buy rating in a research note on Thursday, June 27th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Spirit Realty Capital has a consensus rating of Hold and a consensus price target of $43.75.

NYSE:SRC opened at $43.60 on Thursday. The firm has a market cap of $3.81 billion, a PE ratio of 12.28 and a beta of 0.41. Spirit Realty Capital has a one year low of $33.86 and a one year high of $45.63. The firm’s fifty day moving average is $44.12. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.79.

Spirit Realty Capital (NYSE:SRC) last released its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.33). The company had revenue of $112.59 million for the quarter, compared to analyst estimates of $104.71 million. Spirit Realty Capital had a net margin of 31.91% and a return on equity of 5.82%. Spirit Realty Capital’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.07 earnings per share. On average, research analysts forecast that Spirit Realty Capital will post 3.18 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 5.73%. The ex-dividend date was Thursday, June 27th. Spirit Realty Capital’s payout ratio is currently 66.14%.

A number of large investors have recently added to or reduced their stakes in the stock. Osborn Williams & Donohoe LLC bought a new stake in Spirit Realty Capital in the 1st quarter valued at $25,000. Pinnacle Financial Partners Inc. bought a new stake in Spirit Realty Capital in the 1st quarter valued at $44,000. Advisory Services Network LLC increased its holdings in Spirit Realty Capital by 43.9% in the 1st quarter. Advisory Services Network LLC now owns 1,640 shares of the real estate investment trust’s stock valued at $65,000 after buying an additional 500 shares during the period. Quantamental Technologies LLC bought a new stake in Spirit Realty Capital in the 1st quarter valued at $111,000. Finally, Ellis Investment Partners LLC bought a new stake in Spirit Realty Capital in the 1st quarter valued at $114,000. Hedge funds and other institutional investors own 90.03% 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.

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