Scopia Capital Management LP Acquires 111,851 Shares of Spirit Realty Capital Inc (NYSE:SRC)

Scopia Capital Management LP raised its holdings in Spirit Realty Capital Inc (NYSE:SRC) by 4.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,695,324 shares of the real estate investment trust’s stock after buying an additional 111,851 shares during the quarter. Spirit Realty Capital accounts for 5.1% of Scopia Capital Management LP’s investment portfolio, making the stock its 6th largest holding. Scopia Capital Management LP owned about 2.99% of Spirit Realty Capital worth $114,983,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of SRC. Pacer Advisors Inc. raised its position in shares of Spirit Realty Capital by 18.9% during the second quarter. Pacer Advisors Inc. now owns 2,305 shares of the real estate investment trust’s stock worth $98,000 after purchasing an additional 366 shares during the period. Van ECK Associates Corp grew its holdings in Spirit Realty Capital by 2.1% during the second quarter. Van ECK Associates Corp now owns 20,045 shares of the real estate investment trust’s stock worth $855,000 after buying an additional 412 shares in the last quarter. Advisory Services Network LLC grew its holdings in Spirit Realty Capital by 43.9% during the first quarter. Advisory Services Network LLC now owns 1,640 shares of the real estate investment trust’s stock worth $65,000 after buying an additional 500 shares in the last quarter. Private Advisor Group LLC grew its holdings in Spirit Realty Capital by 5.5% during the second quarter. Private Advisor Group LLC now owns 10,919 shares of the real estate investment trust’s stock worth $466,000 after buying an additional 567 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in Spirit Realty Capital by 4.3% during the second quarter. Daiwa Securities Group Inc. now owns 14,660 shares of the real estate investment trust’s stock worth $625,000 after buying an additional 600 shares in the last quarter.

Spirit Realty Capital stock traded up $0.32 during trading on Friday, hitting $47.98. 23,679 shares of the company were exchanged, compared to its average volume of 768,662. The business’s 50 day moving average is $46.39 and its 200 day moving average is $42.90. Spirit Realty Capital Inc has a 52 week low of $33.86 and a 52 week high of $48.59. The company has a market capitalization of $4.30 billion, a P/E ratio of 12.69 and a beta of 0.39. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.77.

Spirit Realty Capital (NYSE:SRC) last announced its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.33). The business had revenue of $115.70 million during the quarter, compared to the consensus estimate of $108.48 million. Spirit Realty Capital had a net margin of 37.11% and a return on equity of 6.54%. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.20 EPS. Equities analysts expect that Spirit Realty Capital Inc will post 3.14 EPS for the current year.

The firm also recently disclosed a — dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.625 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a yield of 5.3%. Spirit Realty Capital’s dividend payout ratio (DPR) is presently 66.14%.

Several equities research analysts recently issued reports on SRC shares. Stifel Nicolaus started coverage on Spirit Realty Capital in a report on Thursday, August 29th. They set a “buy” rating and a $51.50 price target for the company. ValuEngine downgraded Spirit Realty Capital from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. Zacks Investment Research upgraded Spirit Realty Capital from a “sell” rating to a “hold” rating in a report on Wednesday, August 28th. Morgan Stanley upped their price target on Spirit Realty Capital from $49.00 to $51.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. upped their price target on Spirit Realty Capital from $41.00 to $44.00 and gave the stock a “neutral” rating in a report on Tuesday, June 4th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $45.70.

In other Spirit Realty Capital news, EVP Jay Young sold 10,648 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $45.79, for a total value of $487,571.92. Following the completion of the transaction, the executive vice president now owns 18,890 shares in the company, valued at approximately $864,973.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.92% of the stock is owned by corporate insiders.

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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Institutional Ownership by Quarter for Spirit Realty Capital (NYSE:SRC)

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