Spirit Realty Capital (NYSE:SRC) posted its earnings results on Tuesday. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.69), Fidelity Earnings reports. Spirit Realty Capital had a net margin of 33.94% and a return on equity of 5.93%. The company had revenue of $118.61 million during the quarter, compared to analyst estimates of $114.90 million. During the same quarter last year, the business posted $0.84 EPS. Spirit Realty Capital updated its FY 2020
Pre-Market guidance to 3.14-3.18 EPS and its FY20 guidance to $3.14-3.18 EPS.
Shares of SRC traded down $1.96 during mid-day trading on Friday, hitting $44.61. The stock had a trading volume of 46,871 shares, compared to its average volume of 606,379. The company has a market cap of $4.58 billion, a PE ratio of 23.84 and a beta of 0.41. Spirit Realty Capital has a fifty-two week low of $36.69 and a fifty-two week high of $54.63. The company has a quick ratio of 2.89, a current ratio of 0.35 and a debt-to-equity ratio of 0.66. The company’s fifty day simple moving average is $52.34 and its two-hundred day simple moving average is $49.68.
SRC has been the subject of a number of recent research reports. Zacks Investment Research upgraded Spirit Realty Capital from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Thursday, December 19th. Bank of America upgraded Spirit Realty Capital from an “underperform” rating to a “neutral” rating in a research note on Monday, January 6th. Capital One Financial upgraded Spirit Realty Capital from an “equal weight” rating to an “overweight” rating and set a $56.00 price objective for the company in a research note on Tuesday, December 3rd. Royal Bank of Canada raised their price objective on Spirit Realty Capital from $46.00 to $52.00 and gave the company a “sector perform” rating in a research note on Tuesday, December 10th. Finally, Stifel Nicolaus raised their price objective on Spirit Realty Capital from $53.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Spirit Realty Capital presently has a consensus rating of “Buy” and a consensus price target of $55.00.
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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