Morgan Stanley upgraded shares of Spirit Realty Capital (NYSE:SRC) from an equal weight rating to an overweight rating in a research report report published on Wednesday, BenzingaRatingsTable reports. Morgan Stanley currently has $49.00 price target on the real estate investment trust’s stock, up from their previous price target of $41.00.
Several other research analysts have also weighed in on SRC. ValuEngine raised shares of Zogenix from a buy rating to a strong-buy rating in a research note on Thursday, June 27th. JPMorgan Chase & Co. initiated coverage on shares of INTL CONS AIRL/S in a research note on Tuesday, June 4th. They issued an overweight rating for the company. Deutsche Bank lowered shares of Ontex Group from a buy rating to a hold rating in a research note on Wednesday, May 8th. Finally, Zacks Investment Research lowered shares of HEXO from a hold rating to a sell rating in a research note on Wednesday, May 15th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $43.75.
Shares of SRC stock opened at $44.80 on Wednesday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of 11.85 and a beta of 0.41. The stock’s 50-day moving average is $43.86. Spirit Realty Capital has a 1-year low of $33.86 and a 1-year high of $45.63.
Spirit Realty Capital (NYSE:SRC) last announced its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.33). The company had revenue of $112.59 million for the quarter, compared to analysts’ expectations of $104.71 million. Spirit Realty Capital had a return on equity of 5.82% and a net margin of 31.91%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the business earned $1.07 EPS. As a group, sell-side analysts anticipate that Spirit Realty Capital 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. Stockholders of record on Friday, June 28th will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 5.58%. The ex-dividend date is Thursday, June 27th. Spirit Realty Capital’s payout ratio is 66.14%.
Several hedge funds and other institutional investors have recently bought and sold shares of SRC. Nisa Investment Advisors LLC increased its holdings in shares of Spirit Realty Capital by 11.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 11,441 shares of the real estate investment trust’s stock valued at $488,000 after acquiring an additional 1,136 shares during the period. Real Estate Management Services LLC acquired a new position in shares of Spirit Realty Capital in the 2nd quarter valued at $6,890,000. WINTON GROUP Ltd acquired a new position in shares of Spirit Realty Capital in the 2nd quarter valued at $363,000. Amundi Pioneer Asset Management Inc. increased its holdings in shares of Spirit Realty Capital by 143.1% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 152,138 shares of the real estate investment trust’s stock valued at $6,045,000 after acquiring an additional 89,560 shares during the period. Finally, Advisory Services Network LLC increased its holdings in shares of Spirit Realty Capital by 43.9% in the 1st quarter. Advisory Services Network LLC now owns 1,640 shares of the real estate investment trust’s stock valued at $65,000 after acquiring an additional 500 shares during the period. 90.59% of the stock is owned by institutional investors and hedge funds.
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.
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