Research analysts for stocks expect Spirit Realty Capital, Inc. (NYSE: SRC) to have revenue of $ 146.65 million for the current quarter, according to Zacks. Five analysts have released estimates for Spirit Realty Capital’s earnings, with the highest revenue estimate at $ 164.70 million and the lowest estimate at $ 139.03 million. Spirit Realty Capital posted revenue of $ 112.92 million for the same quarter last year, indicating a positive growth rate of 29.9% year over year. The company is expected to announce its next quarterly earnings report on Monday, November 1st.
According to Zacks, analysts expect Spirit Realty Capital to report annual sales of $ 576.12 million for the current fiscal year, with estimates ranging from $ 551.97 million to $ 632.20 million. For the next fiscal year, analysts expect sales of 635.57 million US dollars, with estimates ranging between 584.90 million US dollars and 718.10 million US dollars. Zacks Investment Research averages based on a survey of research firms covering Spirit Realty Capital.
Spirit Realty Capital (NYSE: SRC) last released its earnings results on Tuesday, August 3rd. The Real Estate Investment Trust reported earnings per share (EPS) of $ 0.74 for the quarter, matching Zacks’ consensus estimate of $ 0.74. Spirit Realty Capital had a return on equity of 3.84% and a net margin of 23.87%.
A number of brokerage firms have published reports on SRC. Truist raised his price target for Spirit Realty Capital from USD 50.00 to USD 55.00 and rated the company as a “Buy” in a research report on Monday, August 16. They discovered that the move was a call for evaluation. JPMorgan Chase & Co. raised its price target for Spirit Realty Capital from USD 48.00 to USD 54.00 and rated the company as “overweight” in a research report on Tuesday, June 22nd. Morgan Stanley raised its price target for Spirit Realty Capital from $ 45.00 to $ 49.00 and rated the company as “equilibrium” in a research report on Thursday, June 3rd. Jefferies Financial Group set a price target of $ 48.63 for Spirit Realty Capital and gave the company a “Buy” rating in a research report on Friday, July 16. Finally, Zacks Investment Research downgraded Spirit Realty Capital from a “buy” rating to a “hold” rating in a research report on Saturday. Five research analysts have given the share a hold rating and six have given it a buy rating. The company currently has an average rating of “Buy” and a consensus price target of $ 48.76.
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Several major investors recently increased or reduced their stake in the company. Brookfield Asset Management Inc. bought a new position in Spirit Realty Capital in the first quarter for approximately $ 41,774,000. BlackRock Inc. increased its stake in Spirit Realty Capital by 6.6% in the first quarter. BlackRock Inc. now owns 15,837,534 shares in the real estate investment trust valued at $ 673,095,000 after purchasing an additional 976,318 shares last quarter. Cbre Clarion Securities LLC increased its stake in Spirit Realty Capital by 117.4% in the second quarter. Cbre Clarion Securities LLC now owns 1,737,428 shares of the real estate investment trust valued at $ 83,119,000 after purchasing an additional 938,340 shares last quarter. Long Pond Capital LP increased its stake in Spirit Realty Capital by 45.2% in the second quarter. Long Pond Capital LP now owns 2,592,426 shares in the real estate investment trust valued at $ 124,022,000 after purchasing an additional 807,265 shares last quarter. Finally, Morgan Stanley increased its stake in Spirit Realty Capital by 102.6% in the second quarter. Morgan Stanley now owns 1,557,234 shares of the real estate investment trust valued at $ 74,499,000 after purchasing an additional 788,722 shares last quarter. 94.98% of the shares are owned by institutional investors.
NYSE SRC opened at $ 49.42 on Tuesday. The stock has a market cap of $ 5.89 billion, a P / E of 47.07, a PEG ratio of 3.91, and a beta of 1.28. Spirit Realty Capital has a 52-week low of $ 29.40 and a 52-week high of $ 51.95. The company has a 50-day moving average of $ 49.24. The company has a debt of 0.78, a quick ratio of 0.06, and a current ratio of 0.06.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Thursday September 30th will receive a dividend of $ 0.638. This is an increase from Spirit Realty Capital’s previous quarterly dividend of $ 0.63. The ex-dividend date of this dividend is Wednesday September 29th. This equates to an annualized dividend of $ 2.55 and a dividend yield of 5.16%. Spirit Realty Capital’s payout ratio is currently 84.75%.
About Spirit Realty Capital
Spirit Realty Capital, Inc (NYSE: SRC) is a leading net lease REIT primarily investing in essential single-tenant real estate investments that are subject to long-term leases. As of September 30, 2020, our diverse portfolio of 1,778 condominiums with total rental space of 37.2 million square feet in 48 states included retail, industrial and office buildings rented to 296 tenants across 28 retail sectors.
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