Pictet Asset Management Ltd. boosted its holdings in Spirit Realty Capital Inc (NYSE:SRC) by 34.4% in the 1st quarter, Holdings Channel reports. The firm owned 14,755 shares of the real estate investment trust’s stock after purchasing an additional 3,777 shares during the period. Pictet Asset Management Ltd.’s holdings in Spirit Realty Capital were worth $586,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the business. Osborn Williams & Donohoe LLC purchased a new position in shares of Spirit Realty Capital during the first quarter valued at about $25,000. Pinnacle Financial Partners Inc. purchased a new position in shares of Spirit Realty Capital during the first quarter valued at about $44,000. Quantamental Technologies LLC purchased a new position in shares of Spirit Realty Capital during the first quarter valued at about $111,000. Global Retirement Partners LLC purchased a new position in shares of Spirit Realty Capital during the first quarter valued at about $244,000. Finally, HighPoint Advisor Group LLC purchased a new position in shares of Spirit Realty Capital during the first quarter valued at about $273,000. Hedge funds and other institutional investors own 90.61% of the company’s stock.
NYSE:SRC opened at $44.58 on Thursday. Spirit Realty Capital Inc has a one year low of $33.86 and a one year high of $44.76. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a market cap of $3.86 billion, a P/E ratio of 11.79 and a beta of 0.43.
Spirit Realty Capital (NYSE:SRC) last posted its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.48 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.33). Spirit Realty Capital had a return on equity of 5.82% and a net margin of 31.91%. The business had revenue of $112.59 million for the quarter, compared to the consensus estimate of $104.71 million. During the same period in the previous year, the firm earned $1.07 EPS. The company’s revenue was up 8.7% on a year-over-year basis. Research analysts anticipate that Spirit Realty Capital Inc will post 3.19 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 5.61%. The ex-dividend date is Thursday, June 27th. Spirit Realty Capital’s payout ratio is currently 66.14%.
Several equities analysts recently issued reports on the stock. ValuEngine upgraded shares of Spirit Realty Capital from a “hold” rating to a “buy” rating in a research report on Monday, June 3rd. Zacks Investment Research raised shares of Spirit Realty Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. Deutsche Bank lowered shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Spirit Realty Capital from $41.00 to $44.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 4th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $42.00.
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About Spirit Realty Capital
Spirit Realty Capital, Inc (NYSE: SRC) is a premier net-lease REIT that primarily invests in high-quality, operationally essential real estate, subject to long-term, net leases. Over the past decade, Spirit has become an industry leader and owner of income-producing, strategically located retail, industrial, office and data center properties.
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