Spirit Realty Capital, Inc. (SRC) Stake Boosted by Honeywell International Inc.

Honeywell International Inc. lifted its stake in Spirit Realty Capital, Inc. (NYSE:SRC) by 27.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,494 shares of the real estate investment trust’s stock after purchasing an additional 26,174 shares during the quarter. Honeywell International Inc.’s holdings in Spirit Realty Capital were worth $1,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Aperio Group LLC raised its position in shares of Spirit Realty Capital by 32.7% in the 3rd quarter. Aperio Group LLC now owns 583,761 shares of the real estate investment trust’s stock worth $5,003,000 after purchasing an additional 143,796 shares during the last quarter. First Trust Advisors LP raised its position in shares of Spirit Realty Capital by 184.0% in the 3rd quarter. First Trust Advisors LP now owns 406,108 shares of the real estate investment trust’s stock worth $3,480,000 after purchasing an additional 263,112 shares during the last quarter. Meeder Asset Management Inc. raised its position in shares of Spirit Realty Capital by 2,184.7% in the 3rd quarter. Meeder Asset Management Inc. now owns 41,832 shares of the real estate investment trust’s stock worth $358,000 after purchasing an additional 40,001 shares during the last quarter. Orinda Asset Management LLC raised its position in shares of Spirit Realty Capital by 42.0% in the 3rd quarter. Orinda Asset Management LLC now owns 161,447 shares of the real estate investment trust’s stock worth $1,384,000 after purchasing an additional 47,775 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC raised its position in shares of Spirit Realty Capital by 499.8% in the 3rd quarter. Quantitative Systematic Strategies LLC now owns 103,810 shares of the real estate investment trust’s stock worth $890,000 after purchasing an additional 86,504 shares during the last quarter. 94.72% of the stock is owned by hedge funds and other institutional investors.

SRC has been the subject of several recent analyst reports. BidaskClub raised Spirit Realty Capital from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Bank of America Corporation raised Spirit Realty Capital from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $6.50 to $9.75 in a research report on Wednesday, August 16th. Mizuho raised Spirit Realty Capital from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $7.50 to $9.00 in a research report on Thursday, August 31st. Zacks Investment Research raised Spirit Realty Capital from a “hold” rating to a “buy” rating and set a $9.50 price target for the company in a research report on Thursday, October 12th. Finally, FBR & Co reaffirmed a “buy” rating on shares of Spirit Realty Capital in a research report on Friday, October 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $9.97.

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In other news, CFO Phillip D. Joseph, Jr. acquired 3,636 shares of Spirit Realty Capital stock in a transaction dated Monday, August 7th. The stock was purchased at an average cost of $8.25 per share, for a total transaction of $29,997.00. Following the completion of the purchase, the chief financial officer now directly owns 138,504 shares in the company, valued at approximately $1,142,658. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Phillip D. Joseph, Jr. acquired 6,061 shares of Spirit Realty Capital stock in a transaction dated Tuesday, August 8th. The stock was purchased at an average price of $8.25 per share, with a total value of $50,003.25. Following the completion of the purchase, the chief financial officer now owns 138,504 shares of the company’s stock, valued at $1,142,658. The disclosure for this purchase can be found here. In the last three months, insiders acquired 24,697 shares of company stock valued at $207,130. Corporate insiders own 0.50% of the company’s stock.

Spirit Realty Capital, Inc. (NYSE SRC) opened at 8.31 on Wednesday. Spirit Realty Capital, Inc. has a 12 month low of $6.64 and a 12 month high of $11.73. The firm has a 50-day moving average price of $8.44 and a 200-day moving average price of $8.17. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 62.95 and a beta of 0.53.

Spirit Realty Capital (NYSE:SRC) last issued its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. The business had revenue of $168.65 million during the quarter, compared to the consensus estimate of $163.19 million. Spirit Realty Capital had a return on equity of 1.74% and a net margin of 9.47%. The company’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the company earned $0.22 earnings per share. Equities research analysts expect that Spirit Realty Capital, Inc. will post $0.21 earnings per share for the current fiscal year.

Spirit Realty Capital declared that its Board of Directors has initiated a stock repurchase program on Monday, August 14th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the real estate investment trust to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 8.66%. The ex-dividend date was Thursday, September 28th. Spirit Realty Capital’s dividend payout ratio is presently 514.29%.

About Spirit Realty Capital

Spirit Realty Capital, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company’s operations are carried out through Spirit Realty, L.P. (the Operating Partnership). The Company invests in single-tenant, operationally essential real estate throughout the United States that is leased on a long-term, triple-net basis primarily to tenants engaged in retail, service and distribution industries.

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

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