Long Pond Capital LP cut its position in Spirit Realty Capital, Inc. (NYSE:SRC) by 12.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,785,161 shares of the real estate investment trust’s stock after selling 258,118 shares during the quarter. Spirit Realty Capital makes up about 2.6% of Long Pond Capital LP’s holdings, making the stock its 15th biggest position. Long Pond Capital LP owned about 1.55% of Spirit Realty Capital worth $75,869,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Spirit Realty Capital by 6.6% in the first quarter. BlackRock Inc. now owns 15,837,534 shares of the real estate investment trust’s stock worth $673,095,000 after acquiring an additional 976,318 shares in the last quarter. Duff & Phelps Investment Management Co. boosted its holdings in Spirit Realty Capital by 1.8% during the first quarter. Duff & Phelps Investment Management Co. now owns 1,843,980 shares of the real estate investment trust’s stock worth $78,369,000 after purchasing an additional 33,450 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Spirit Realty Capital by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,793,427 shares of the real estate investment trust’s stock valued at $72,043,000 after purchasing an additional 73,689 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Spirit Realty Capital by 3.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,690,269 shares of the real estate investment trust’s stock valued at $71,836,000 after buying an additional 58,348 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Spirit Realty Capital by 3.2% during the 1st quarter. Geode Capital Management LLC now owns 1,679,644 shares of the real estate investment trust’s stock worth $71,384,000 after buying an additional 51,499 shares in the last quarter. 98.95% of the stock is owned by institutional investors.
In other Spirit Realty Capital news, EVP Jay Young sold 15,000 shares of the stock in a transaction that occurred on Friday, May 7th. The stock was sold at an average price of $47.00, for a total transaction of $705,000.00. Following the transaction, the executive vice president now directly owns 26,412 shares in the company, valued at approximately $1,241,364. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.56% of the stock is currently owned by insiders.
Spirit Realty Capital (NYSE:SRC) last posted its quarterly earnings data on Wednesday, May 5th. The real estate investment trust reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of $0.70 by ($0.74). Spirit Realty Capital had a return on equity of 1.26% and a net margin of 8.28%. The company had revenue of $134.66 million during the quarter, compared to analyst estimates of $130.84 million. On average, analysts forecast that Spirit Realty Capital, Inc. will post 3 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 15th. Investors of record on Wednesday, June 30th will be paid a dividend of $0.625 per share. The ex-dividend date is Tuesday, June 29th. This represents a $2.50 annualized dividend and a yield of 4.92%. Spirit Realty Capital’s dividend payout ratio is currently 84.75%.
Several equities research analysts have recently commented on SRC shares. Truist increased their price objective on Spirit Realty Capital from $43.00 to $48.00 in a report on Monday, March 22nd. Truist Securities boosted their price objective on shares of Spirit Realty Capital from $43.00 to $48.00 in a research note on Monday, March 22nd. Zacks Investment Research downgraded shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a research note on Friday, May 7th. Mizuho boosted their price target on Spirit Realty Capital from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, April 19th. Finally, UBS Group upgraded shares of Spirit Realty Capital from a “sell” rating to a “neutral” rating in a report on Friday, February 26th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Spirit Realty Capital presently has an average rating of “Hold” and an average price target of $44.33.
About Spirit Realty Capital
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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