Spirit Realty Capital, Inc. (NYSE: SRC) announced a quarterly dividend on Tuesday, August 3rd, reports Zacks. Shareholders registered on Thursday, September 30th, will receive a dividend of 0.638 per share from the Real Estate Investment Trust on Friday, October 15th. This equates to a dividend of $ 2.55 on an annual basis and a yield of 4.98%. The ex-dividend date is Wednesday, September 29th. This is an increase from Spirit Realty Capital’s previous quarterly dividend of $ 0.63.
Spirit Realty Capital has reduced its dividend by 30.6% over the past three years and has increased its dividend annually for the past 1 consecutive years.
Spirit Realty Capital’s stock rose $ 1.00 during trading hours on Thursday to hit $ 51.20. 2,592 shares of the company were traded in hands compared to an average volume of 835,089. The company has a debt of 0.87, a current ratio of 1.89 and a quick ratio of 1.89. Spirit Realty Capital has a 52-week low of $ 29.40 and a 52-week high of $ 51.38. The company has a market capitalization of $ 5.89 billion, a price to earnings ratio of 179.29, a price to earnings ratio of 3.85, and a beta of 1.28. The company’s 50-day moving average price is $ 48.91.
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, meeting analysts’ consensus estimate of $ 0.74. Spirit Realty Capital had a net margin of 8.28% and a return on equity of 1.26%. On average, analysts forecast that Spirit Realty Capital will report EPS 3.01 for the current financial year.
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SRC has been the subject of a number of research reports. Jefferies Financial Group set a price target of $ 48.63 on Spirit Realty Capital shares and rated the company as a “Buy” in a research report on Friday, July 16. Morgan Stanley raised its price target on Spirit Realty Capital shares from $ 45.00 to $ 49.00 and rated the company as “equilibrium” in a research report on Thursday, June 3rd. Raymond James raised his price target for Spirit Realty Capital shares from USD 50.00 to USD 55.00 and rated the company as “outperform” in a research report on Thursday, June 17th. JPMorgan Chase & Co. raised its price target on Spirit Realty Capital shares from USD 48.00 to USD 54.00 and rated the company as “overweight” in a research report on Tuesday, June 22nd. Finally, Mizuho raised its price target on shares of Spirit Realty Capital from $ 43.00 to $ 45.00 and rated the company as “neutral” in a research report on Monday April 19. Five research analysts for stocks have given the stock a hold rating and four have given the company a buy rating. The stock has a consensus rating of “Hold” and a consensus price target of $ 47.36.
In related news, EVP Jay Young sold 15,000 shares in the company in one transaction on Friday, May 7th. The shares were sold at an average price of $ 47.00 for a total of $ 705,000.00. Upon completion of the transaction, the executive vice president now directly owns 26,412 shares in the company valued at $ 1,241,364. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available via this link. Company insiders hold 0.56% of the shares.
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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