Spirit Realty Capital (NYSE:SRC) Posts Earnings Results, Misses Estimates By $0.57 EPS

Spirit Realty Capital (NYSE:SRC) announced its quarterly earnings data on Friday. The real estate investment trust reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.57), MarketWatch Earnings reports. Spirit Realty Capital had a net margin of 22.00% and a return on equity of 3.75%. The company had revenue of $117.19 million for the quarter, compared to analysts’ expectations of $113.65 million. During the same quarter in the previous year, the firm posted $0.86 EPS.

SRC opened at $34.46 on Friday. The company has a fifty day simple moving average of $34.30 and a 200 day simple moving average of $36.81. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 11.04 and a beta of 1.09. Spirit Realty Capital has a twelve month low of $18.37 and a twelve month high of $54.63. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.80.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 7.25%. The ex-dividend date was Monday, June 29th. Spirit Realty Capital’s dividend payout ratio is presently 74.85%.

Several equities analysts have recently commented on the company. Morgan Stanley downgraded Spirit Realty Capital from an “overweight” rating to an “equal weight” rating and set a $31.00 price objective on the stock. in a research report on Monday, May 4th. Jefferies Financial Group assumed coverage on Spirit Realty Capital in a research note on Monday, June 29th. They set a “buy” rating and a $43.00 target price on the stock. Deutsche Bank upped their target price on Spirit Realty Capital from $41.00 to $42.00 and gave the company a “hold” rating in a research note on Monday, July 27th. ValuEngine raised Spirit Realty Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Finally, Berenberg Bank started coverage on Spirit Realty Capital in a research note on Tuesday, June 30th. They issued a “buy” rating and a $47.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Spirit Realty Capital presently has an average rating of “Hold” and an average price target of $44.60.

Spirit Realty Capital Company 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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Earnings History for Spirit Realty Capital (NYSE:SRC)

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