Swiss National Bank Lowers Stake in Spirit Realty Capital Inc (SRC)

Swiss National Bank reduced its position in shares of Spirit Realty Capital Inc (NYSE:SRC) by 6.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 747,473 shares of the real estate investment trust’s stock after selling 50,000 shares during the quarter. Swiss National Bank owned about 0.17% of Spirit Realty Capital worth $6,025,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SRC. Schwab Charles Investment Management Inc. lifted its position in Spirit Realty Capital by 41.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 3,597,028 shares of the real estate investment trust’s stock worth $28,885,000 after buying an additional 1,056,325 shares during the last quarter. Chicago Equity Partners LLC lifted its position in Spirit Realty Capital by 4,549.1% in the second quarter. Chicago Equity Partners LLC now owns 1,450,520 shares of the real estate investment trust’s stock worth $11,648,000 after buying an additional 1,419,320 shares during the last quarter. First Trust Advisors LP lifted its position in Spirit Realty Capital by 11.5% in the second quarter. First Trust Advisors LP now owns 272,082 shares of the real estate investment trust’s stock worth $2,185,000 after buying an additional 28,168 shares during the last quarter. Kestrel Investment Management Corp lifted its position in Spirit Realty Capital by 38.2% in the second quarter. Kestrel Investment Management Corp now owns 1,049,200 shares of the real estate investment trust’s stock worth $8,425,000 after buying an additional 289,900 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in Spirit Realty Capital by 2.8% in the second quarter. California Public Employees Retirement System now owns 1,348,031 shares of the real estate investment trust’s stock worth $10,825,000 after buying an additional 36,540 shares during the last quarter. Hedge funds and other institutional investors own 94.41% of the company’s stock.

In other news, CEO Jackson Hsieh sold 186,087 shares of Spirit Realty Capital stock in a transaction on Friday, November 16th. The stock was sold at an average price of $7.81, for a total transaction of $1,453,339.47. Following the completion of the sale, the chief executive officer now directly owns 1,153,557 shares in the company, valued at $9,009,280.17. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.48% of the stock is currently owned by company insiders.

SRC has been the subject of a number of analyst reports. TheStreet upgraded Spirit Realty Capital from a “c” rating to a “b-” rating in a research report on Wednesday, August 8th. Zacks Investment Research upgraded Spirit Realty Capital from a “sell” rating to a “hold” rating in a research report on Saturday, August 11th. ValuEngine downgraded Spirit Realty Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. Finally, Bank of America raised their price target on Spirit Realty Capital from $8.00 to $8.25 and gave the stock a “neutral” rating in a research report on Monday, September 10th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $8.71.

NYSE:SRC opened at $7.42 on Friday. Spirit Realty Capital Inc has a twelve month low of $7.22 and a twelve month high of $8.84. The firm has a market cap of $3.18 billion, a PE ratio of 9.27 and a beta of 0.34. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.78.

Shares of Spirit Realty Capital are set to reverse split on Thursday, December 13th. The 1-5 reverse split was announced on Tuesday, November 13th. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, December 12th.

Spirit Realty Capital (NYSE:SRC) last released its earnings results on Monday, November 5th. The real estate investment trust reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. Spirit Realty Capital had a return on equity of 4.27% and a net margin of 20.95%. The business had revenue of $109.64 million during the quarter, compared to the consensus estimate of $101.43 million. During the same period last year, the company earned $0.21 earnings per share. The business’s revenue for the quarter was up .8% compared to the same quarter last year. On average, sell-side analysts anticipate that Spirit Realty Capital Inc will post 0.73 earnings per share for the current year.

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About Spirit Realty Capital

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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