Spirit Realty Capital (NYSE:SRC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday, Zacks.com reports.
According to Zacks, “Spirit Realty Capital, Inc. is a real estate investment trust. It acquires single tenant, operationally essential real estate where the tenants conduct retail, service or distribution activities. The Company has investments throughout the United States. Its portfolio of properties is leased to tenants operating in different industries which includes restaurants; general, specialty and discount retailers; movie theatres; education facilities; health, fitness and recreational facilities; automotive dealers, parts and service facilities; and supermarkets. Spirit Realty Capital, Inc. is based in Scottsdale, Arizona. “
A number of other equities analysts also recently weighed in on SRC. ValuEngine raised shares of Spirit Realty Capital from a “strong sell” rating to a “sell” rating in a research note on Thursday. Morgan Stanley increased their price target on shares of Spirit Realty Capital from $51.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Deutsche Bank cut their price target on shares of Spirit Realty Capital from $56.00 to $41.00 and set a “hold” rating on the stock in a research note on Wednesday, March 25th. Royal Bank of Canada reaffirmed a “hold” rating and set a $43.00 price target on shares of Spirit Realty Capital in a research note on Wednesday, March 18th. Finally, JPMorgan Chase & Co. increased their price target on shares of Spirit Realty Capital from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $51.57.
Shares of NYSE SRC opened at $22.25 on Friday. Spirit Realty Capital has a 1 year low of $18.37 and a 1 year high of $54.63. The firm’s 50 day moving average price is $40.32 and its 200 day moving average price is $47.57. The firm has a market cap of $2.37 billion, a P/E ratio of 11.96 and a beta of 1.06. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.35 and a current ratio of 0.35.
Spirit Realty Capital (NYSE:SRC) last announced its earnings results on Tuesday, February 25th. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.69). The firm had revenue of $118.61 million for the quarter, compared to analyst estimates of $114.90 million. Spirit Realty Capital had a return on equity of 5.93% and a net margin of 33.94%. During the same quarter last year, the business posted $0.84 EPS. As a group, equities analysts predict that Spirit Realty Capital will post 2.95 EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in SRC. Amundi Pioneer Asset Management Inc. increased its stake in Spirit Realty Capital by 143.1% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 152,138 shares of the real estate investment trust’s stock worth $6,045,000 after buying an additional 89,560 shares during the period. Tower Research Capital LLC TRC purchased a new stake in Spirit Realty Capital during the 3rd quarter worth $27,000. Voya Investment Management LLC increased its stake in Spirit Realty Capital by 6.7% during the 3rd quarter. Voya Investment Management LLC now owns 16,431 shares of the real estate investment trust’s stock worth $786,000 after buying an additional 1,033 shares during the period. Voya Financial Advisors Inc. increased its stake in Spirit Realty Capital by 5.2% during the 3rd quarter. Voya Financial Advisors Inc. now owns 48,404 shares of the real estate investment trust’s stock worth $2,317,000 after buying an additional 2,386 shares during the period. Finally, New Mexico Educational Retirement Board purchased a new stake in Spirit Realty Capital during the 3rd quarter worth $723,000. 93.82% of the stock is currently owned by hedge funds and other institutional investors.
About Spirit Realty Capital
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.