Zacks: Analysts Anticipate Spirit Realty Capital, Inc (SRC) Will Post Quarterly Sales of $163.72 Million

Wall Street analysts forecast that Spirit Realty Capital, Inc (NYSE:SRC) will report sales of $163.72 million for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Spirit Realty Capital’s earnings. The lowest sales estimate is $159.77 million and the highest is $166.31 million. Spirit Realty Capital reported sales of $173.38 million during the same quarter last year, which indicates a negative year-over-year growth rate of 5.6%. The firm is expected to report its next earnings results on Wednesday, February 28th.

On average, analysts expect that Spirit Realty Capital will report full-year sales of $163.72 million for the current fiscal year, with estimates ranging from $652.41 million to $669.92 million. For the next financial year, analysts forecast that the firm will post sales of $650.98 million per share, with estimates ranging from $625.77 million to $668.62 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Spirit Realty Capital.

SRC has been the topic of several research analyst reports. Zacks Investment Research raised Spirit Realty Capital from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a research report on Thursday, October 12th. Mizuho reaffirmed a “buy” rating and set a $9.50 price target on shares of Spirit Realty Capital in a research report on Thursday, December 21st. B. Riley set a $9.00 price target on Spirit Realty Capital and gave the stock a “buy” rating in a research report on Tuesday, November 14th. SunTrust Banks reaffirmed a “hold” rating and set a $8.50 price target on shares of Spirit Realty Capital in a research report on Friday, November 3rd. Finally, Robert W. Baird lowered Spirit Realty Capital from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $10.00 to $9.00 in a research report on Friday, November 10th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $9.51.

Hedge funds have recently made changes to their positions in the business. State Board of Administration of Florida Retirement System grew its stake in shares of Spirit Realty Capital by 49.8% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 591,951 shares of the real estate investment trust’s stock valued at $4,386,000 after purchasing an additional 196,710 shares during the last quarter. Gruss Capital Management LP grew its stake in shares of Spirit Realty Capital by 56.1% in the 3rd quarter. Gruss Capital Management LP now owns 7,375,000 shares of the real estate investment trust’s stock valued at $63,204,000 after purchasing an additional 2,650,000 shares during the last quarter. First Allied Advisory Services Inc. grew its stake in shares of Spirit Realty Capital by 77.0% in the 2nd quarter. First Allied Advisory Services Inc. now owns 63,452 shares of the real estate investment trust’s stock valued at $470,000 after purchasing an additional 27,594 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of Spirit Realty Capital in the 2nd quarter valued at approximately $434,000. Finally, Orinda Asset Management LLC boosted its stake in shares of Spirit Realty Capital by 42.0% in the third quarter. Orinda Asset Management LLC now owns 161,447 shares of the real estate investment trust’s stock valued at $1,384,000 after buying an additional 47,775 shares in the last quarter. Institutional investors own 92.54% of the company’s stock.

Spirit Realty Capital (NYSE SRC) opened at $8.18 on Friday. The company has a market capitalization of $3,720.00, a P/E ratio of 90.89 and a beta of 0.17. Spirit Realty Capital has a 12-month low of $6.64 and a 12-month high of $11.28. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.59 and a current ratio of 0.59.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be paid a $0.18 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.72 annualized dividend and a dividend yield of 8.80%. Spirit Realty Capital’s dividend payout ratio (DPR) is currently 800.00%.

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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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