Brokerages expect Spirit Realty Capital (NYSE:SRC) to report earnings per share (EPS) of $0.20 for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Spirit Realty Capital’s earnings. The lowest EPS estimate is $0.20 and the highest is $0.21. Spirit Realty Capital reported earnings of $0.21 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 4.8%. The firm is expected to announce its next earnings results on Thursday, August 2nd.
On average, analysts expect that Spirit Realty Capital will report full year earnings of $0.82 per share for the current financial year, with EPS estimates ranging from $0.78 to $0.85. For the next fiscal year, analysts forecast that the firm will report earnings of $0.83 per share, with EPS estimates ranging from $0.78 to $0.85. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow Spirit Realty Capital.
Spirit Realty Capital (NYSE:SRC) last issued its quarterly earnings results on Tuesday, May 1st. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. Spirit Realty Capital had a return on equity of 3.53% and a net margin of 14.21%. The firm had revenue of $165.30 million for the quarter, compared to analyst estimates of $165.12 million. During the same period last year, the company earned $0.20 EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis.
SRC has been the topic of several research analyst reports. Zacks Investment Research raised Spirit Realty Capital from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a research note on Wednesday, May 9th. B. Riley reaffirmed a “buy” rating on shares of Spirit Realty Capital in a research note on Thursday, February 22nd. Capital One raised Spirit Realty Capital from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, January 24th. Morgan Stanley reduced their price objective on Spirit Realty Capital from $8.75 to $8.25 and set an “equal weight” rating on the stock in a research note on Monday, February 5th. Finally, ValuEngine lowered Spirit Realty Capital from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $9.08.
NYSE SRC opened at $8.58 on Friday. The stock has a market capitalization of $3.69 billion, a PE ratio of 10.09 and a beta of 0.43. Spirit Realty Capital has a 1-year low of $7.15 and a 1-year high of $8.81. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.25.
In related news, Director Richard I. Gilchrist purchased 7,500 shares of Spirit Realty Capital stock in a transaction that occurred on Thursday, March 15th. The shares were purchased at an average cost of $8.00 per share, with a total value of $60,000.00. Following the transaction, the director now owns 67,929 shares of the company’s stock, valued at approximately $543,432. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas D. Senkbeil purchased 25,200 shares of Spirit Realty Capital stock in a transaction that occurred on Tuesday, March 6th. The shares were bought at an average cost of $7.93 per share, for a total transaction of $199,836.00. Following the completion of the transaction, the director now directly owns 67,052 shares in the company, valued at approximately $531,722.36. The disclosure for this purchase can be found here. Insiders own 0.48% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Scopia Capital Management LP lifted its position in Spirit Realty Capital by 7.1% during the 1st quarter. Scopia Capital Management LP now owns 29,595,858 shares of the real estate investment trust’s stock worth $229,664,000 after acquiring an additional 1,949,213 shares in the last quarter. Principal Financial Group Inc. lifted its position in Spirit Realty Capital by 4.8% during the 1st quarter. Principal Financial Group Inc. now owns 15,292,381 shares of the real estate investment trust’s stock worth $118,670,000 after acquiring an additional 697,153 shares in the last quarter. V3 Capital Management L.P. lifted its position in Spirit Realty Capital by 13.7% during the 1st quarter. V3 Capital Management L.P. now owns 10,413,802 shares of the real estate investment trust’s stock worth $80,811,000 after acquiring an additional 1,253,250 shares in the last quarter. Cbre Clarion Securities LLC lifted its position in Spirit Realty Capital by 150.6% during the 4th quarter. Cbre Clarion Securities LLC now owns 9,992,562 shares of the real estate investment trust’s stock worth $85,736,000 after acquiring an additional 6,004,382 shares in the last quarter. Finally, HG Vora Capital Management LLC acquired a new position in Spirit Realty Capital during the 1st quarter worth approximately $65,960,000. 93.33% of the stock is currently owned by hedge funds and other institutional investors.
About Spirit Realty Capital
Spirit Realty Capital, Inc (NYSE:SRC) is a premier net lease real estate investment trust (REIT) that primarily invests in high-quality, operationally essential retail 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 and office properties providing superior risk adjusted returns and steady dividend growth for our shareholders.
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