Spirit Realty Capital (NYSE:SRC – Get Free Report) had its price objective increased by equities researchers at Mizuho from $41.00 to $45.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s price objective indicates a potential downside of 0.73% from the company’s current price.
Several other research firms have also weighed in on SRC. TheStreet lowered shares of Spirit Realty Capital from a “b-” rating to a “c+” rating in a research report on Monday, October 16th. StockNews.com assumed coverage on shares of Spirit Realty Capital in a report on Wednesday, January 3rd. They set a “hold” rating on the stock. Wells Fargo & Company assumed coverage on shares of Spirit Realty Capital in a report on Wednesday, September 20th. They set an “underweight” rating and a $36.00 price objective on the stock. Janney Montgomery Scott downgraded shares of Spirit Realty Capital from a “buy” rating to a “neutral” rating and set a $40.00 price objective on the stock. in a report on Thursday, November 2nd. Finally, Royal Bank of Canada upped their price objective on shares of Spirit Realty Capital from $40.00 to $43.00 and gave the company a “sector perform” rating in a report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $41.91.
Spirit Realty Capital Stock Up 0.4 %
Shares of NYSE SRC traded up $0.16 during trading on Wednesday, hitting $45.33. The stock had a trading volume of 191,610 shares, compared to its average volume of 859,824. Spirit Realty Capital has a 12 month low of $32.22 and a 12 month high of $45.54. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $6.41 billion, a PE ratio of 25.92 and a beta of 1.35. The firm has a fifty day moving average of $41.75 and a two-hundred day moving average of $38.92.
Spirit Realty Capital (NYSE:SRC – Get Free Report) last posted its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.61). The firm had revenue of $188.21 million during the quarter, compared to the consensus estimate of $189.48 million. Spirit Realty Capital had a return on equity of 5.83% and a net margin of 33.98%. As a group, equities research analysts forecast that Spirit Realty Capital will post 3.45 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Sound Income Strategies LLC increased its position in shares of Spirit Realty Capital by 6.8% in the fourth quarter. Sound Income Strategies LLC now owns 250,242 shares of the real estate investment trust’s stock worth $10,933,000 after purchasing an additional 16,009 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Spirit Realty Capital by 3.5% in the third quarter. Public Employees Retirement System of Ohio now owns 261,329 shares of the real estate investment trust’s stock worth $8,762,000 after purchasing an additional 8,741 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of Spirit Realty Capital by 96.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 47,411 shares of the real estate investment trust’s stock worth $1,590,000 after purchasing an additional 23,285 shares during the last quarter. Citigroup Inc. increased its position in shares of Spirit Realty Capital by 227.9% in the third quarter. Citigroup Inc. now owns 137,361 shares of the real estate investment trust’s stock worth $4,606,000 after purchasing an additional 95,464 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Spirit Realty Capital by 33.4% in the third quarter. Wellington Management Group LLP now owns 1,016,481 shares of the real estate investment trust’s stock worth $34,083,000 after purchasing an additional 254,318 shares during the last quarter. 96.09% of the stock is currently owned by institutional investors.
Spirit Realty Capital Company 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, 2023, our diverse portfolio consisted of 2,037 retail, industrial and other properties across 49 states, which were leased to 338 tenants operating in 37 industries.