Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Spirit Realty Capital Inc (NYSE:SRC) by 25.4% during the third quarter, HoldingsChannel reports. The fund owned 123,446 shares of the real estate investment trust’s stock after buying an additional 25,034 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Spirit Realty Capital were worth $5,908,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Spirit Realty Capital by 5.5% during the 2nd quarter. Vanguard Group Inc. now owns 14,663,135 shares of the real estate investment trust’s stock worth $625,530,000 after acquiring an additional 763,350 shares during the last quarter. Scopia Capital Management LP grew its position in Spirit Realty Capital by 4.3% during the 2nd quarter. Scopia Capital Management LP now owns 2,695,324 shares of the real estate investment trust’s stock worth $114,983,000 after acquiring an additional 111,851 shares during the last quarter. V3 Capital Management L.P. grew its position in Spirit Realty Capital by 8.2% during the 2nd quarter. V3 Capital Management L.P. now owns 2,345,072 shares of the real estate investment trust’s stock worth $100,041,000 after acquiring an additional 177,900 shares during the last quarter. Long Pond Capital LP grew its position in Spirit Realty Capital by 463.2% during the 2nd quarter. Long Pond Capital LP now owns 1,811,310 shares of the real estate investment trust’s stock worth $77,270,000 after acquiring an additional 1,489,696 shares during the last quarter. Finally, Brookfield Asset Management Inc. bought a new stake in Spirit Realty Capital during the 2nd quarter worth $72,835,000. Institutional investors and hedge funds own 91.84% of the company’s stock.
A number of brokerages recently weighed in on SRC. Morgan Stanley boosted their price objective on Spirit Realty Capital from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 17th. Stifel Nicolaus began coverage on Spirit Realty Capital in a research report on Thursday, August 29th. They set a “buy” rating and a $51.50 price objective on the stock. Zacks Investment Research lowered Spirit Realty Capital from a “hold” rating to a “sell” rating in a research report on Thursday, October 24th. Liberum Capital boosted their price objective on Spirit Realty Capital from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. upgraded Spirit Realty Capital from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $50.00 to $52.00 in a research report on Tuesday, October 8th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $50.25.
Shares of NYSE SRC traded up $0.15 during trading on Monday, reaching $49.49. The company had a trading volume of 780,785 shares, compared to its average volume of 1,071,900. The company’s fifty day moving average price is $48.58 and its 200-day moving average price is $45.34. Spirit Realty Capital Inc has a 12 month low of $33.86 and a 12 month high of $50.97. The stock has a market cap of $4.44 billion, a P/E ratio of 13.09 and a beta of 0.36. The company has a quick ratio of 0.36, a current ratio of 2.89 and a debt-to-equity ratio of 0.66.
Spirit Realty Capital (NYSE:SRC) last released its quarterly earnings results on Tuesday, November 5th. The real estate investment trust reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.65. Spirit Realty Capital had a return on equity of 8.03% and a net margin of 42.82%. The firm had revenue of $167.00 million for the quarter, compared to analyst estimates of $113.15 million. During the same quarter in the previous year, the company posted $0.16 EPS. The business’s revenue was up 52.4% on a year-over-year basis. As a group, equities analysts predict that Spirit Realty Capital Inc will post 3.14 earnings per share for the current year.
The business also recently declared a — dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.625 dividend. The ex-dividend date was Friday, September 27th. This represents a dividend yield of 5.3%. Spirit Realty Capital’s dividend payout ratio (DPR) is presently 66.14%.
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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