Stock analysts predict Spirit Realty Capital, Inc. (NYSE: SRC) will have revenue of $ 140.20 million for the current quarter, Zacks reports. Five analysts have estimated Spirit Realty Capital’s earnings, with the lowest revenue estimate at $ 133.50 million and the highest estimate at $ 143.39 million. Spirit Realty Capital reported revenue of $ 112.92 million in the year-ago quarter, indicating a positive year-over-year growth rate of 24.2%. The company is expected to release its next quarterly results on Monday, November 1st.
According to Zacks, analysts expect Spirit Realty Capital to have annual sales of 556.11 million for the current fiscal year $ 643.80 million. Zacks’ revenue calculations are an average based on a survey of analysts reporting on Spirit Realty Capital.
Spirit Realty Capital (NYSE: SRC) last released its quarterly results on Tuesday, August 3rd. The Real Estate Investment Trust reported earnings per share of $ 0.74 for the quarter, meeting Zacks’ consensus estimate of $ 0.74. Spirit Realty Capital had a return on equity of 1.26% and a net margin of 8.28%.
A number of research firms have looked at SRC. Mizuho raised his price target for Spirit Realty Capital from USD 43.00 to USD 45.00 and rated the company as “neutral” in a research report on Monday, April 19th. Zacks Investment Research downgraded Spirit Realty Capital from a “buy” rating to a “hold” rating in a research report dated Friday July 30th. JPMorgan Chase & Co. raised their 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 USD to 49.00 USD and rated the company in a research report on Thursday 3. Finally, Raymond James raised his price target for Spirit Realty Capital from 50.00 USD -Dollar to $ 55.00 and rated the stock as an “outperform” in a report dated Thursday, June 17th. Five analysts have given the share a hold rating and four have given it a buy rating. The company has an average “hold” rating and a consensus price target of $ 47.36.
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NYSE SRC opened at $ 50.20 on Thursday. The company’s 50-day moving average price is $ 48.91. Spirit Realty Capital has a twelve month low of $ 29.40 and a twelve month high of $ 51.38. The company has a quick ratio of 1.89, a current ratio of 1.89 and leverage of 0.87. The stock has a market capitalization of $ 5.77 billion, a P / E of 179.29, a price to earnings / growth ratio of 3.85, and a beta of 1.28.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 15th. Investors registered on Wednesday June 30th received a dividend of $ 0.625. The ex-dividend date of this dividend was Tuesday June 29th. This equates to an annualized dividend of $ 2.50 and a dividend yield of 4.98%. Spirit Realty Capital’s payout ratio is currently 84.75%.
In related news, EVP Jay Young sold 15,000 shares in the company in a transaction dated Friday, May 7th. The stock sold at an average price of $ 47.00 for a total value of $ 705,000. Following the sale, the executive vice president now directly owns 26,412 shares in the company valued at $ 1,241,364. The transaction was announced in a legal filing with the Securities & Exchange Commission, which can be accessed on the SEC website. Company insiders hold 0.56% of the shares.
Several hedge funds and other institutional investors recently bought and sold shares in the stock. 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. Duff & Phelps Investment Management Co. increased its position in Spirit Realty Capital by 1.8% in the first quarter. Duff & Phelps Investment Management Co. now owns 1,843,980 shares of the real estate fund, valued at $ 78,369,000, after acquiring an additional 33,450 shares last quarter. Dimensional Fund Advisors LP increased its position in Spirit Realty Capital by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,793,427 shares in the real estate investment trust valued at $ 72,043,000 after acquiring an additional 73,689 shares last quarter. Massachusetts Financial Services Co. MA increased its position in Spirit Realty Capital by 3.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,690,269 shares in the real estate investment trust valued at $ 71,836,000 after purchasing an additional 58,348 shares in the most recent quarter. Finally, Geode Capital Management LLC increased its position in Spirit Realty Capital by 3.2% in the 1st quarter. Geode Capital Management LLC now owns 1,679,644 shares of the real estate investment trust valued at $ 71,384,000 after purchasing an additional 51,499 shares in the most recent quarter. 98.87% of the shares are currently owned by institutional investors.
Spirit Realty Capital company profile
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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