BlackRock Inc. Lowers Stock Holdings in Spirit Realty Capital, Inc. (NYSE:SRC)

BlackRock Inc. decreased its position in shares of Spirit Realty Capital, Inc. (NYSE:SRC) by 13.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,636,130 shares of the real estate investment trust’s stock after selling 2,141,152 shares during the period. BlackRock Inc. owned approximately 12.54% of Spirit Realty Capital worth $460,219,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SRC. Prospera Financial Services Inc purchased a new stake in Spirit Realty Capital during the third quarter valued at about $69,000. Ellevest Inc. increased its holdings in shares of Spirit Realty Capital by 37.8% in the third quarter. Ellevest Inc. now owns 3,003 shares of the real estate investment trust’s stock worth $101,000 after buying an additional 823 shares during the period. Cypress Capital Management LLC WY increased its holdings in shares of Spirit Realty Capital by 106.7% in the second quarter. Cypress Capital Management LLC WY now owns 3,100 shares of the real estate investment trust’s stock worth $108,000 after buying an additional 1,600 shares during the period. Planned Solutions Inc. purchased a new position in shares of Spirit Realty Capital in the third quarter worth about $150,000. Finally, Shelton Capital Management purchased a new position in shares of Spirit Realty Capital in the second quarter worth about $203,000.

Shares of SRC opened at $35.60 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The business’s 50 day moving average price is $33.53 and its 200-day moving average price is $33.70. Spirit Realty Capital, Inc. has a 52 week low of $18.37 and a 52 week high of $54.63. The stock has a market cap of $3.87 billion, a P/E ratio of 52.35 and a beta of 1.04.

Spirit Realty Capital (NYSE:SRC) last issued its quarterly earnings results on Saturday, November 7th. The real estate investment trust reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.08). Spirit Realty Capital had a return on equity of 2.19% and a net margin of 13.17%. During the same period in the prior year, the firm earned $1.27 earnings per share. On average, equities analysts anticipate that Spirit Realty Capital, Inc. will post 2.64 EPS for the current year.

Several research firms recently issued reports on SRC. Morgan Stanley raised their target price on Spirit Realty Capital from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Friday, August 21st. Zacks Investment Research raised Spirit Realty Capital from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Friday, November 6th. JPMorgan Chase & Co. cut their target price on Spirit Realty Capital from $55.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 29th. Bank of America raised Spirit Realty Capital from a “neutral” rating to a “buy” rating in a research note on Monday, August 24th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Spirit Realty Capital from $41.00 to $42.00 and gave the stock a “hold” rating in a research note on Monday, July 27th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $41.45.

Spirit Realty Capital Profile

Spirit Realty Capital, Inc (NYSE: SRC) is a premier net-lease REIT that primarily invests in single-tenant, operationally essential real estate assets, subject to long-term leases. As of September 30, 2020, our diverse portfolio of 1,778 owned properties, with an aggregate leasable area of 37.2 million square feet in 48 states, included retail, industrial and office buildings leased to 296 tenants across 28 retail industries.

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

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