Pensionfund DSM Netherlands raised its holdings in Spirit Realty Capital, Inc. (NYSE:SRC) by 25.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,600 shares of the real estate investment trust’s stock after buying an additional 16,000 shares during the quarter. Pensionfund DSM Netherlands’ holdings in Spirit Realty Capital were worth $3,383,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of SRC. Concord Wealth Partners acquired a new position in shares of Spirit Realty Capital in the 4th quarter valued at about $34,000. Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Spirit Realty Capital by 37.9% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 1,780 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 489 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Spirit Realty Capital by 36.7% in the 4th quarter. Van ECK Associates Corp now owns 4,741 shares of the real estate investment trust’s stock valued at $190,000 after purchasing an additional 1,272 shares in the last quarter. Telemus Capital LLC acquired a new position in shares of Spirit Realty Capital in the 4th quarter valued at about $201,000. Finally, Sunbelt Securities Inc. acquired a new position in shares of Spirit Realty Capital in the 4th quarter valued at about $201,000. Institutional investors own 98.65% of the company’s stock.
SRC has been the topic of several research analyst reports. Mizuho reaffirmed a “neutral” rating and issued a $43.00 price objective (up from $39.00) on shares of Spirit Realty Capital in a research note on Wednesday, March 10th. Robert W. Baird initiated coverage on Spirit Realty Capital in a research note on Wednesday, December 16th. They issued a “neutral” rating on the stock. Morgan Stanley lifted their price objective on Spirit Realty Capital from $37.00 to $40.00 and gave the company an “equal weight” rating in a research note on Thursday, February 25th. Truist lifted their price objective on Spirit Realty Capital from $43.00 to $48.00 in a research note on Monday, March 22nd. Finally, UBS Group raised Spirit Realty Capital from a “sell” rating to a “neutral” rating in a research report on Thursday, March 4th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $42.62.
Spirit Realty Capital (NYSE:SRC) last announced its earnings results on Thursday, February 18th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.06. Spirit Realty Capital had a return on equity of 0.07% and a net margin of 0.46%. The company had revenue of $128.60 million for the quarter, compared to analyst estimates of $118.87 million. During the same period in the prior year, the company posted $0.76 EPS. Spirit Realty Capital’s quarterly revenue was up 5.9% on a year-over-year basis. On average, analysts forecast that Spirit Realty Capital, Inc. will post 2.8 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Wednesday, March 31st will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.71%. The ex-dividend date is Tuesday, March 30th. Spirit Realty Capital’s payout ratio is 74.85%.
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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