$0.77 EPS Expected for Spirit Realty Capital, Inc. (NYSE:SRC) This Quarter

Wall Street analysts expect Spirit Realty Capital, Inc. (NYSE:SRC) to report earnings per share (EPS) of $0.77 for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Spirit Realty Capital’s earnings, with the lowest EPS estimate coming in at $0.76 and the highest estimate coming in at $0.81. Spirit Realty Capital posted earnings per share of $0.71 in the same quarter last year, which would indicate a positive year over year growth rate of 8.5%. The company is scheduled to report its next quarterly earnings results after the market closes on Tuesday, August 3rd.

According to Zacks, analysts expect that Spirit Realty Capital will report full year earnings of $3.13 per share for the current year, with EPS estimates ranging from $3.05 to $3.28. For the next fiscal year, analysts anticipate that the firm will report earnings of $3.31 per share, with EPS estimates ranging from $3.23 to $3.38. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow Spirit Realty Capital.

Spirit Realty Capital (NYSE:SRC) last released its quarterly earnings data on Wednesday, May 5th. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.74). Spirit Realty Capital had a net margin of 8.28% and a return on equity of 1.26%. The company had revenue of $134.66 million during the quarter, compared to analyst estimates of $130.84 million.

SRC has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Spirit Realty Capital from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Thursday. Jefferies Financial Group set a $48.63 target price on shares of Spirit Realty Capital and gave the company a “buy” rating in a report on Friday, July 16th. JPMorgan Chase & Co. increased their target price on shares of Spirit Realty Capital from $48.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, June 22nd. Mizuho increased their target price on shares of Spirit Realty Capital from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, April 19th. Finally, Morgan Stanley raised their price objective on shares of Spirit Realty Capital from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 3rd. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $46.78.

In other Spirit Realty Capital news, EVP Jay Young sold 15,000 shares of Spirit Realty Capital stock in a transaction on Friday, May 7th. The shares were sold at an average price of $47.00, for a total value of $705,000.00. Following the transaction, the executive vice president now owns 26,412 shares in the company, valued at approximately $1,241,364. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.56% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in shares of Spirit Realty Capital by 6.6% in the 1st quarter. BlackRock Inc. now owns 15,837,534 shares of the real estate investment trust’s stock valued at $673,095,000 after purchasing an additional 976,318 shares during the last quarter. Long Pond Capital LP acquired a new position in shares of Spirit Realty Capital in the 4th quarter valued at $82,079,000. Duff & Phelps Investment Management Co. boosted its holdings in shares of Spirit Realty Capital by 1.8% in the 1st quarter. Duff & Phelps Investment Management Co. now owns 1,843,980 shares of the real estate investment trust’s stock valued at $78,369,000 after purchasing an additional 33,450 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Spirit Realty Capital by 4.3% in the 4th 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 during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Spirit Realty Capital by 3.6% during 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 acquiring an additional 58,348 shares in the last quarter. Institutional investors own 98.87% of the company’s stock.

Shares of SRC traded down $0.32 during mid-day trading on Thursday, hitting $49.23. 13,973 shares of the company’s stock were exchanged, compared to its average volume of 1,134,536. Spirit Realty Capital has a fifty-two week low of $29.40 and a fifty-two week high of $51.17. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of 175.29, a P/E/G ratio of 3.81 and a beta of 1.29. The company has a 50 day simple moving average of $48.16. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.89 and a quick ratio of 1.89.

The company also recently announced a quarterly dividend, which was paid on Thursday, July 15th. Shareholders of record on Wednesday, June 30th were paid a $0.625 dividend. The ex-dividend date was Tuesday, June 29th. This represents a $2.50 annualized dividend and a yield of 5.08%. Spirit Realty Capital’s payout ratio is currently 84.75%.

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, 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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Earnings History and Estimates for Spirit Realty Capital (NYSE:SRC)

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