Westpac Banking Corp reduced its stake in Spirit Realty Capital Inc (NYSE:SRC) by 6.2% during the first quarter, according to its most recent filing with the SEC. The fund owned 224,006 shares of the real estate investment trust’s stock after selling 14,710 shares during the quarter. Westpac Banking Corp’s holdings in Spirit Realty Capital were worth $8,900,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Osborn Williams & Donohoe LLC purchased a new position in shares of Spirit Realty Capital in the 1st quarter worth about $25,000. Pinnacle Financial Partners Inc. purchased a new position in shares of Spirit Realty Capital in the 1st quarter worth about $44,000. Quantamental Technologies LLC purchased a new position in shares of Spirit Realty Capital in the 1st quarter worth about $111,000. Ellis Investment Partners LLC purchased a new position in shares of Spirit Realty Capital in the 1st quarter worth about $114,000. Finally, Global Retirement Partners LLC purchased a new position in shares of Spirit Realty Capital in the 1st quarter worth about $244,000. 90.61% of the stock is currently owned by institutional investors.
A number of equities analysts recently weighed in on SRC shares. JPMorgan Chase & Co. boosted their price target on shares of Spirit Realty Capital from $41.00 to $44.00 and gave the stock a “neutral” rating in a report on Tuesday, June 4th. Deutsche Bank downgraded shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. ValuEngine raised shares of Spirit Realty Capital from a “hold” rating to a “buy” rating in a report on Monday, June 3rd. Finally, Zacks Investment Research downgraded shares of Spirit Realty Capital from a “hold” rating to a “sell” rating in a report on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Spirit Realty Capital currently has an average rating of “Hold” and a consensus target price of $42.00.
Spirit Realty Capital stock traded up $0.13 during midday trading on Friday, reaching $44.71. The stock had a trading volume of 13,028 shares, compared to its average volume of 1,088,895. Spirit Realty Capital Inc has a 12 month low of $33.86 and a 12 month high of $45.06. The stock has a market capitalization of $3.91 billion, a P/E ratio of 11.77 and a beta of 0.43. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.42 and a current ratio of 0.42.
Spirit Realty Capital (NYSE:SRC) last announced its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.33). Spirit Realty Capital had a net margin of 31.91% and a return on equity of 5.82%. The firm had revenue of $112.59 million during the quarter, compared to the consensus estimate of $104.71 million. During the same quarter in the prior year, the firm posted $1.07 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. Equities research analysts forecast that Spirit Realty Capital Inc will post 3.19 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 5.59%. The ex-dividend date of this dividend is Thursday, June 27th. Spirit Realty Capital’s dividend payout ratio is currently 66.14%.
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Spirit Realty Capital Company 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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