Wall Street brokers expect Spirit Realty Capital, Inc. (NYSE: SRC) to announce revenue of $ 151.95 million for the current quarter, Zacks reports. Five analysts have estimated Spirit Realty Capital’s earnings. The lowest revenue estimate is $ 143.39 million and the highest is $ 164.70 million. Spirit Realty Capital posted revenue of $ 112.92 million for the year-ago quarter, indicating a positive year-over-year growth rate of 34.6%. The company is expected to release its next quarterly earnings report after the market closes on Tuesday, November 2nd.
According to Zacks, analysts expect Spirit Realty Capital to report annual sales of $ 601.16 million for the current fiscal year, with estimates ranging between $ 564.97 million and $ 632.20 million. For the next year, analysts are forecasting revenue of $ 657.68 million, with estimates ranging between $ 584.90 million and $ 729.10 million. Zacks’ revenue calculations are an average average 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 of $ 0.74 for the quarter, meeting the consensus estimate of $ 0.74. Spirit Realty Capital had a net margin of 23.87% and a return on equity of 3.84%. The company had revenue of $ 164.45 million for the quarter, compared to analyst expectations of $ 136.69 million.
Several stock research analysts have released reports on the company. Truist Securities raised its price target on Spirit Realty Capital from $ 50.00 to $ 55.00 and rated the company as a “Buy” in a report on Monday, August 16. Mizuho raised its price target for Spirit Realty Capital from $ 50.00 to $ 52.00 and rated the company as “neutral” in a report on Tuesday, August 24th. The Royal Bank of Canada took over coverage of Spirit Realty Capital in a report on Friday, September 17th. They set a “Sector Performance” rating and a target price of $ 53.00 for the company. Morgan Stanley raised its price target for Spirit Realty Capital from $ 49.00 to $ 55.00 and rated the company “equally weighted” in a report on Tuesday, September 7th. Finally, Truist raised its price target on Spirit Realty Capital stock from $ 50.00 to $ 55.00 and gave the company a “Buy” rating in a research report on Monday, August 16. They discovered that the move was a call for evaluation. Five research analysts have given the share a hold rating and six have given it a buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $ 52.46.
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Spirit Realty Capital stock opened at $ 48.31 on Thursday. The company has a fifty day simple moving average of $ 49.51 and a two hundred day simple moving average of $ 48.26. Spirit Realty Capital has a 1 year low of $ 29.40 and a 1 year high of $ 52.29. The company has a market capitalization of $ 5.75 billion, a price / earnings ratio of 46.01, a P / E of 2.91, and a beta of 1.28. The company has a debt of 0.78, a current ratio of 0.06, and a quick ratio of 0.06.
The company also recently announced a quarterly dividend, which was paid on Friday, October 15th. Shareholders of record on Thursday, September 30th, received a dividend of $ 0.638 per share. This equates to an annual dividend of $ 2.55 and a dividend yield of 5.28%. The ex-dividend date of this dividend was Wednesday September 29th. This is an increase from Spirit Realty Capital’s previous quarterly dividend of $ 0.63. Spirit Realty Capital’s payout ratio is 86.44%.
In other news, director Michelle M. Frymire bought 2,386 shares in the company in a transaction dated Wednesday, September 8th. The stock was purchased at an average price of $ 51.00 per share for a total value of $ 121,686.00. Following the acquisition, the director now owns 4,772 shares in the company valued at approximately $ 243,372. The acquisition was announced in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. Company insiders own 0.56% of the company’s shares.
A number of major investors recently changed their holdings in the stock. Vanguard Group Inc. increased its stake in Spirit Realty Capital by 2.8% in the second quarter. Vanguard Group Inc. now owns 17,023,985 shares in the real estate investment trust valued at $ 814,428,000 after purchasing an additional 463,369 shares last quarter. FMR LLC increased its stake in Spirit Realty Capital by 7.6% in the second quarter. FMR LLC now owns 8,159,260 shares of the real estate investment trust valued at $ 390,340,000 after purchasing an additional 579,043 shares in the most recent quarter. State Street Corp increased its stake in Spirit Realty Capital by 4.5% in the second quarter. State Street Corp now owns 5,172,969 shares of the real estate investment trust valued at $ 250,721,000 after acquiring an additional 224,534 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 acquiring an additional 807,265 shares in the most recent quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Spirit Realty Capital by 13.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,924,595 shares in the real estate investment trust valued at $ 92,073,000, after acquiring an additional 234,326 shares in the most recent quarter. 96.78% of the shares are owned by institutional investors and hedge funds.
Spirit Realty Capital company profile
Spirit Realty Capital, Inc. is a holding company. His in-house skills include acquisition, portfolio management, asset management, credit research, real estate research, law, finance and accounting, and capital markets. The company was founded on August 14, 2003 and is headquartered in Dallas, TX.
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