Cambridge Investment Research Advisors Inc. Cuts Position in Spirit Realty Capital, Inc. (NYSE:SRC)

Cambridge Investment Research Advisors Inc. decreased its position in Spirit Realty Capital, Inc. (NYSE:SRC) by 1.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,673 shares of the real estate investment trust’s stock after selling 246 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Spirit Realty Capital were worth $624,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Concord Wealth Partners purchased a new stake in Spirit Realty Capital in the fourth quarter valued at approximately $34,000. Signaturefd LLC raised its position in Spirit Realty Capital by 19.2% in the first quarter. Signaturefd LLC now owns 1,412 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 227 shares during the period. Koshinski Asset Management Inc. purchased a new stake in Spirit Realty Capital in the fourth quarter valued at approximately $182,000. Van ECK Associates Corp raised its position in Spirit Realty Capital by 36.7% in the fourth quarter. Van ECK Associates Corp now owns 4,741 shares of the real estate investment trust’s stock valued at $190,000 after purchasing an additional 1,272 shares during the period. Finally, Sunbelt Securities Inc. purchased a new stake in shares of Spirit Realty Capital during the fourth quarter worth $201,000. 98.95% of the stock is currently owned by institutional investors.

Shares of SRC stock opened at $50.92 on Friday. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.87. The stock’s fifty day moving average price is $46.31. The firm has a market capitalization of $5.85 billion, a P/E ratio of 181.86, a P/E/G ratio of 3.65 and a beta of 1.27. Spirit Realty Capital, Inc. has a 12 month low of $29.40 and a 12 month high of $51.17.

Spirit Realty Capital (NYSE:SRC) last released its quarterly earnings data on Wednesday, May 5th. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.74). Spirit Realty Capital had a net margin of 8.28% and a return on equity of 1.26%. The company had revenue of $134.66 million during the quarter, compared to analyst estimates of $130.84 million. As a group, equities analysts expect that Spirit Realty Capital, Inc. will post 3 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 15th. Shareholders of record on Wednesday, June 30th will be paid a $0.625 dividend. The ex-dividend date is Tuesday, June 29th. This represents a $2.50 annualized dividend and a yield of 4.91%. Spirit Realty Capital’s dividend payout ratio is presently 84.75%.

In other Spirit Realty Capital news, EVP Jay Young sold 15,000 shares of the company’s stock in a transaction on Friday, May 7th. The shares were sold at an average price of $47.00, for a total value of $705,000.00. Following the completion of the transaction, the executive vice president now owns 26,412 shares in the company, valued at $1,241,364. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

SRC has been the topic of a number of recent research reports. UBS Group raised Spirit Realty Capital from a “sell” rating to a “neutral” rating in a research report on Friday, February 26th. Morgan Stanley upped their price objective on Spirit Realty Capital from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 3rd. Mizuho upped their price objective on Spirit Realty Capital from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, April 19th. Truist upped their price objective on Spirit Realty Capital from $43.00 to $48.00 in a research report on Monday, March 22nd. Finally, Zacks Investment Research lowered Spirit Realty Capital from a “buy” rating to a “hold” rating in a research report on Friday, May 7th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $44.33.

About Spirit Realty Capital

Spirit Realty Capital, Inc (NYSE: SRC) is a premier net-lease REIT that primarily invests in single-tenant, operationally essential real estate assets, subject to long-term leases. As of September 30, 2020, our diverse portfolio of 1,778 owned properties, with an aggregate leasable area of 37.2 million square feet in 48 states, included retail, industrial and office buildings leased to 296 tenants across 28 retail industries.

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

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