Spirit Realty Capital (NYSE: SRC) was upgraded from a “hold” rating to a “buy” rating by Zacks Investment Research in a research report released Tuesday, reports Zacks.com. The brokerage currently has a price target of $ 57.00 on the stock of the Real Estate Investment Trust. Zacks Investment Research’s price target suggests a potential upside of 12.51% from the stock’s previous closing price.
According to Zacks, “Spirit Realty Capital, Inc. is a real estate investment trust. It acquires operationally necessary single tenant real estate 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 SRC. Raymond James raised his price target on Spirit Realty Capital shares from $ 50.00 to $ 55.00 and rated the company as “outperform” in a report dated Thursday, June 17. Mizuho raised its price target on Spirit Realty Capital shares from $ 43.00 to $ 45.00 and rated the company as “neutral” in a report on Monday April 19. JPMorgan Chase & Co. raised its price target on Spirit Realty Capital shares from $ 48.00 to $ 54.00 and rated the company as “overweight” in a report dated June 22nd. Jefferies Financial Group set a price target of $ 48.63 on Spirit Realty Capital stock and gave the company a “Buy” rating in a report on Friday, July 16. Finally, Morgan Stanley raised its price target on Spirit Realty Capital shares from $ 45.00 to $ 49.00 and rated the company “equilibrium” in a research report on Thursday June 3rd. Four research analysts for stocks have given the stock a hold rating and five have given the company a buy rating. Spirit Realty Capital currently has an average rating of “Buy” and an average price target of $ 47.46.
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He warns that additional incentives “will create inflationary pressures like we have not seen in a generation, with implications for the value of the dollar and financial stability.”
SRC rose $ 0.01 during Tuesday’s trading to hit $ 50.66. 746 shares in the company were exchanged, compared with an average volume of 830,806. The company’s 50-day moving average price is $ 49.15. The company has a market cap of $ 6.03 billion, a P / E of 180.79, a P / E of 3.85, and a beta of 1.28. The company has a current metric of 1.89, a fast metric of 1.89, and debt of 0.87. Spirit Realty Capital has a 52-week low of $ 29.40 and a 52-week high of $ 51.95.
Spirit Realty Capital (NYSE: SRC) last announced its earnings results on Tuesday, August 3rd. The Real Estate Investment Trust reported $ 0.74 EPS for the quarter, meeting Thomson Reuters’ consensus estimate of $ 0.74. Spirit Realty Capital had a net margin of 8.28% and a return on equity of 1.26%. As a group, research analysts expect Spirit Realty Capital to post earnings per share of 3.01 for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares in the stock. Fifth Third Bancorp increased its position in Spirit Realty Capital by 17.6% in the first quarter. Fifth Third Bancorp now owns 13,427 shares in the real estate investment trust valued at $ 571,000 after purchasing an additional 2,009 shares during the period. Brookstone Capital Management bought a new position in Spirit Realty Capital in the second quarter for approximately $ 276,000. Real Estate Management Services LLC increased its position in Spirit Realty Capital by 16.7% in the first quarter. Real Estate Management Services LLC now owns 154,100 shares of the Real Estate Investment Trust valued at $ 6,549,000 after acquiring an additional 22,100 shares during the reporting period. The Swiss National Bank increased its position in Spirit Realty Capital by 6.5% in the first quarter. The Swiss National Bank now owns 248,554 shares in the Real Estate Investment Trust valued at $ 10,564,000 after purchasing an additional 15,200 shares during the reporting period. Finally, Harvest Fund Management Co. Ltd bought a new position in Spirit Realty Capital in the first quarter for approximately $ 54,000. Institutional investors own 98.87% of the company’s stock.
About Spirit Realty Capital
Spirit Realty Capital, Inc (NYSE: SRC) is a premier net lease REIT that primarily invests in essential single-tenant real estate assets 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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