Zacks: Analysts Expect Spirit Realty Capital, Inc. (NYSE:SRC) to Announce $0.77 Earnings Per Share

Equities analysts expect Spirit Realty Capital, Inc. (NYSE:SRC) to report earnings of $0.77 per share for the current quarter, according to Zacks. Five analysts have made estimates for Spirit Realty Capital’s earnings. The lowest EPS estimate is $0.76 and the highest is $0.81. Spirit Realty Capital reported earnings of $0.71 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 8.5%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Tuesday, August 3rd.

On average, analysts expect that Spirit Realty Capital will report full year earnings of $3.13 per share for the current year, with EPS estimates ranging from $3.05 to $3.28. For the next year, analysts expect that the business will post earnings of $3.31 per share, with EPS estimates ranging from $3.23 to $3.38. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Spirit Realty Capital.

Spirit Realty Capital (NYSE:SRC) last announced its quarterly earnings results on Wednesday, May 5th. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.74). The business had revenue of $134.66 million for the quarter, compared to the consensus estimate of $130.84 million. Spirit Realty Capital had a net margin of 8.28% and a return on equity of 1.26%.

A number of research analysts have recently issued reports on SRC shares. Morgan Stanley upped their price target on Spirit Realty Capital from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Thursday, June 3rd. Zacks Investment Research upgraded Spirit Realty Capital from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Thursday. JPMorgan Chase & Co. upped their price objective on Spirit Realty Capital from $48.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, June 22nd. Mizuho upped their price objective on Spirit Realty Capital from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, April 19th. Finally, Jefferies Financial Group set a $48.63 price objective on Spirit Realty Capital and gave the company a “buy” rating in a research report on Friday, July 16th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $46.78.

Shares of NYSE:SRC traded down $0.32 during midday trading on Thursday, reaching $49.23. 13,973 shares of the company’s stock traded hands, compared to its average volume of 1,134,536. The company has a market capitalization of $5.66 billion, a P/E ratio of 175.29, a price-to-earnings-growth ratio of 3.81 and a beta of 1.29. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.87. Spirit Realty Capital has a one year low of $29.40 and a one year high of $51.17. The stock’s 50 day moving average price is $48.16.

The business also recently declared a quarterly dividend, which was paid on Thursday, July 15th. Shareholders of record on Wednesday, June 30th were given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date was Tuesday, June 29th. Spirit Realty Capital’s payout ratio is 84.75%.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SRC. Eaton Vance Management bought a new position in shares of Spirit Realty Capital in the first quarter worth about $25,000. Concord Wealth Partners bought a new position in shares of Spirit Realty Capital in the fourth quarter worth about $34,000. Harvest Fund Management Co. Ltd bought a new position in shares of Spirit Realty Capital in the first quarter worth about $54,000. Signaturefd LLC boosted its stake in shares of 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 worth $60,000 after acquiring an additional 227 shares during the period. Finally, Acadian Asset Management LLC bought a new position in shares of Spirit Realty Capital in the first quarter worth about $118,000. 98.87% of the stock is owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Spirit Realty Capital (NYSE:SRC)

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