California State Teachers Retirement System reduced its holdings in Spirit Realty Capital Inc (NYSE:SRC) by 2.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,372 shares of the real estate investment trust’s stock after selling 3,157 shares during the quarter. California State Teachers Retirement System’s holdings in Spirit Realty Capital were worth $5,378,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MERIAN GLOBAL INVESTORS UK Ltd raised its holdings in shares of Spirit Realty Capital by 129.0% during the fourth quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 501,501 shares of the real estate investment trust’s stock valued at $17,677,000 after acquiring an additional 282,497 shares during the period. Blueshift Asset Management LLC purchased a new position in Spirit Realty Capital during the fourth quarter valued at approximately $1,324,000. State of Alaska Department of Revenue grew its position in Spirit Realty Capital by 0.8% during the first quarter. State of Alaska Department of Revenue now owns 37,460 shares of the real estate investment trust’s stock valued at $1,487,000 after purchasing an additional 283 shares in the last quarter. American Century Companies Inc. purchased a new position in Spirit Realty Capital during the fourth quarter valued at approximately $5,077,000. Finally, Quantum Capital Management purchased a new position in Spirit Realty Capital during the fourth quarter valued at approximately $804,000. Institutional investors and hedge funds own 90.61% of the company’s stock.
A number of brokerages recently commented on SRC. JPMorgan Chase & Co. boosted their price objective on shares of Spirit Realty Capital from $41.00 to $44.00 and gave the company a “neutral” rating in a research report on Tuesday, June 4th. ValuEngine raised 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 report on Wednesday, May 15th. Finally, Deutsche Bank downgraded shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Spirit Realty Capital currently has an average rating of “Hold” and an average price target of $42.00.
Shares of SRC opened at $44.58 on Thursday. Spirit Realty Capital Inc has a 52 week low of $33.86 and a 52 week high of $44.76. The company has a market cap of $3.88 billion, a P/E ratio of 11.79 and a beta of 0.42. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.79.
Spirit Realty Capital (NYSE:SRC) last announced its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.48 EPS for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.33). Spirit Realty Capital had a net margin of 31.91% and a return on equity of 5.82%. The company had revenue of $112.59 million for the quarter, compared to analysts’ expectations of $104.71 million. During the same period in the previous year, the firm posted $1.07 earnings per share. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities research analysts predict that Spirit Realty Capital Inc will post 3.19 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 5.61%. The ex-dividend date of this dividend is Thursday, June 27th. Spirit Realty Capital’s payout ratio is presently 66.14%.
Spirit Realty Capital Company Profile
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.
See Also: Return on Investment (ROI)
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