Spirit Realty Capital, Inc. (NYSE: SRC) received a sharp drop in short rates in September. As of September 15, there was short interest totaling 2,240,000 shares, a decrease of 17.6% compared to August 31 with a total of 2,720,000 shares. Based on an average trading volume of 811,800 shares, the day-to-cover ratio is currently 2.8 days.
In related news, director Michelle M. Frymire purchased 2,386 shares in the company in a transaction dated Wednesday, September 8. The stock was purchased at an average price of $ 51.00 per share for a total transaction of $ 121,686.00. Following the transaction, the director now owns 4,772 shares in the company valued at approximately $ 243,372. The acquisition was announced in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.56% of the company’s shares.
A number of hedge funds and other institutional investors have recently added or reduced their holdings in SRC. Eaton Vance Management acquired a new stake in Spirit Realty Capital worth approximately $ 25,000 in the first quarter. Huntington National Bank bought a new position in Spirit Realty Capital worth approximately $ 25,000 in the second quarter. Meeder Asset Management Inc. increased its stake in Spirit Realty Capital by 49.1% in the second quarter. Meeder Asset Management Inc. now owns 680 shares of the real estate investment trust, valued at $ 33,000, after acquiring an additional 224 shares last quarter. Monday A & Associates Inc. bought a new position in Spirit Realty Capital for approximately $ 48,000 in the second quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in Spirit Realty Capital in the first quarter for approximately $ 54,000. 96.78% of the shares are owned by institutional investors and hedge funds.
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SRC shares rose $ 0.73 on Wednesday to hit $ 48.04. The company had a trading volume of 15,100 shares versus an average volume of 813,356. The company has a market cap of $ 5.72 billion, a P / E of 45.06, a P / E of 2.91, and a beta of 1.28. The stock’s 50-day moving average is $ 50.04 and the 200-day moving average is $ 47.88. The company has a debt of 0.78, a quick ratio of 0.06, and a current ratio of 0.06. Spirit Realty Capital has a twelve month low of $ 29.40 and a twelve month high of $ 52.29.
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 the consensus estimate of $ 0.74. The company had revenue of $ 164.45 million for the quarter, compared to analyst expectations of $ 136.69 million. Spirit Realty Capital had a return on equity of 3.84% and a net margin of 23.87%. Equity research analysts predict that Spirit Realty Capital will post 3.05 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Thursday September 30th will receive a dividend of $ 0.638 per share. The ex-dividend date of this dividend is Wednesday September 29th. This equates to an annualized dividend of $ 2.55 and a yield of 5.31%. This is an increase from Spirit Realty Capital’s previous quarterly dividend of $ 0.63. Spirit Realty Capital’s dividend payout ratio (DPR) is currently 86.44%.
SRC has been the subject of several new analyst reports. TheStreet upgraded Spirit Realty Capital from a “c +” rating to a “b” rating in a research report on Monday, August 9th. Truist Securities raised its price target for Spirit Realty Capital from USD 50.00 to USD 55.00 and rated the stock as a “buy” in a research report on Monday, August 16. Raymond James raised his price target for Spirit Realty Capital from USD 50.00 to USD 55.00 and rated the stock as “outperform” in a research report on Thursday, June 17th. The Royal Bank of Canada reported on Spirit Realty Capital in a research report on Friday, September 17th. They set a “Sector Performance” rating and a target price of $ 53.00 for the company. Finally, JPMorgan Chase & Co. raised its price target for Spirit Realty Capital from $ 48.00 to $ 54.00 and rated the stock as “overweight” in a research report on Tuesday, June 22nd. Five investment analysts have given the stock a hold rating and six have given the company’s stock a buy rating. The company currently has an average rating of “Buy” and a consensus price target of $ 50.15, according to MarketBeat.
Spirit Realty Capital company profile
Spirit Realty Capital, Inc. acts as the 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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