Duff & Phelps Investment Management Co. Buys 323,700 Shares of Spirit Realty Capital Inc (NYSE:SRC)

Duff & Phelps Investment Management Co. boosted its stake in Spirit Realty Capital Inc (NYSE:SRC) by 34.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,261,000 shares of the real estate investment trust’s stock after purchasing an additional 323,700 shares during the quarter. Duff & Phelps Investment Management Co. owned about 1.44% of Spirit Realty Capital worth $53,794,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swiss National Bank lifted its position in shares of Spirit Realty Capital by 2.6% in the second quarter. Swiss National Bank now owns 160,154 shares of the real estate investment trust’s stock valued at $6,832,000 after buying an additional 4,000 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Spirit Realty Capital by 19.8% in the second quarter. Envestnet Asset Management Inc. now owns 52,985 shares of the real estate investment trust’s stock valued at $2,260,000 after buying an additional 8,772 shares during the last quarter. Westpac Banking Corp lifted its position in shares of Spirit Realty Capital by 78.8% in the second quarter. Westpac Banking Corp now owns 400,453 shares of the real estate investment trust’s stock valued at $17,083,000 after buying an additional 176,447 shares during the last quarter. Stevens Capital Management LP lifted its position in shares of Spirit Realty Capital by 44.1% in the second quarter. Stevens Capital Management LP now owns 39,283 shares of the real estate investment trust’s stock valued at $1,676,000 after buying an additional 12,018 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Spirit Realty Capital by 2,070.7% in the second quarter. CWM LLC now owns 6,512 shares of the real estate investment trust’s stock valued at $278,000 after buying an additional 6,212 shares during the last quarter. Institutional investors and hedge funds own 90.09% of the company’s stock.

In other news, EVP Jay Young sold 10,648 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $45.79, for a total transaction of $487,571.92. Following the transaction, the executive vice president now owns 18,890 shares in the company, valued at $864,973.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.92% of the stock is currently owned by company insiders.



Shares of NYSE SRC traded up $0.27 during trading hours on Friday, reaching $45.77. 10,497 shares of the stock were exchanged, compared to its average volume of 1,023,100. The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of 12.06 and a beta of 0.42. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.36 and a current ratio of 0.36. Spirit Realty Capital Inc has a 52 week low of $33.86 and a 52 week high of $46.56. The stock’s fifty day simple moving average is $44.28 and its 200 day simple moving average is $41.68.

Spirit Realty Capital (NYSE:SRC) last announced its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.49 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.33). The firm had revenue of $115.70 million for the quarter, compared to the consensus estimate of $108.48 million. Spirit Realty Capital had a return on equity of 6.54% and a net margin of 37.11%. Spirit Realty Capital’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter last year, the business posted $0.20 EPS. Research analysts predict that Spirit Realty Capital Inc will post 3.18 EPS for the current fiscal year.

A number of analysts have recently issued reports on the company. ValuEngine cut Spirit Realty Capital from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. JPMorgan Chase & Co. raised their price objective on Spirit Realty Capital from $41.00 to $44.00 and gave the company a “neutral” rating in a research report on Tuesday, June 4th. Zacks Investment Research raised Spirit Realty Capital from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Morgan Stanley raised Spirit Realty Capital from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $41.00 to $49.00 in a research report on Wednesday, July 10th. Finally, Deutsche Bank cut Spirit Realty Capital from a “buy” rating to a “hold” rating in a research 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 issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $43.75.

Spirit Realty Capital Profile

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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Institutional Ownership by Quarter for Spirit Realty Capital (NYSE:SRC)

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