Spirit Realty Capital (NYSE: SRC) was downgraded from a “buy” rating to a “hold” rating by Zacks Investment Research in a research report released on Friday, reports Zacks.com.
According to Zacks, “Spirit Realty Capital, Inc. is a real estate investment trust. It acquires single-tenant real estate that is essential for its operation, in which the tenants carry out retail, service or sales activities. The company has investments across the United States. Properties are rented to tenants in a variety of industries including restaurants, general retailers, specialty and discount stores, movie theaters, educational establishments, health, fitness and recreational facilities, auto dealerships, parts and service facilities, and supermarkets. Spirit Realty Capital, Inc. is based in Scottsdale, Arizona. “
Several other analysts have also recently commented on the company. JPMorgan Chase & Co. raised its price target on Spirit Realty Capital from $ 48.00 to $ 54.00 and rated the company as “overweight” in a research release on Tuesday June 22nd. Jefferies Financial Group set a price target of $ 48.63 for Spirit Realty Capital and gave the company a “Buy” rating in a research note on Friday, July 16. Mizuho raised his price target on Spirit Realty Capital from $ 43.00 to $ 45.00 and valued the company on Monday 19th. Raymond James raised his price target on Spirit Realty Capital from $ 50.00 US $ 55.00 and rated the company as “outperform” in a research note on Thursday, June 17th. Eventually, Morgan Stanley raised its price target on Spirit Realty Capital from $ 45.00 to $ 49.00 and announced the company on Thursday the 3rd. Five investment analysts have a hold rating and four have a buy -Rating rated. The company currently has an average “hold” rating and an average price target of $ 47.36.
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Spirit Realty Capital stock opened at $ 51.42 on Friday. The company has a debt of 0.87, a quick ratio of 1.89 and a current ratio of 1.89. The stock’s 50-day simple moving average is $ 49.00. Spirit Realty Capital has a 1-year low of $ 29.40 and a 1-year high of $ 51.44. The company has a market cap of $ 5.91 billion, a P / E of 183.64, a P / E of 3.85, and a beta of 1.28.
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, matching Zacks’ consensus estimate of $ 0.74. Spirit Realty Capital had a return on equity of 1.26% and a net margin of 8.28%. Analysts predict that Spirit Realty Capital will achieve earnings per share of 3.01 for the current fiscal year.
Major investors recently bought and sold shares in the stock. 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 stake in Spirit Realty Capital worth approximately $ 25,000 in the second quarter. Montag A & Associates Inc. bought a new stake in Spirit Realty Capital valued at approximately $ 48,000 in the second quarter. Harvest Fund Management Co. Ltd acquired a new stake in Spirit Realty Capital valued at approximately $ 54,000 in the first quarter. Finally, Signaturefd LLC increased its stake in Spirit Realty Capital by 19.2% in the 1st quarter. Signaturefd LLC now owns 1,412 shares of the real estate investment trust valued at $ 60,000 after purchasing an additional 227 shares during the period. 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 renters in 28 retail sectors.
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