Spirit Realty Capital (SRC) Sets New 12-Month High at $40.47

Spirit Realty Capital Inc (NYSE:SRC) shares hit a new 52-week high during trading on Monday . The company traded as high as $40.47 and last traded at $40.47, with a volume of 806507 shares trading hands. The stock had previously closed at $39.79.

SRC has been the subject of a number of analyst reports. ValuEngine raised shares of Spirit Realty Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. Bank of America cut shares of Spirit Realty Capital from a “neutral” rating to an “underperform” rating and set a $40.00 target price for the company. in a research note on Thursday, November 15th. Raymond James cut shares of Spirit Realty Capital from a “market perform” rating to an “underperform” rating in a research note on Thursday, December 6th. Zacks Investment Research cut shares of Spirit Realty Capital from a “hold” rating to a “sell” rating in a research note on Friday, December 7th. Finally, Mizuho upgraded shares of Spirit Realty Capital to a “buy” rating and set a $42.00 target price for the company in a research note on Wednesday, January 23rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Spirit Realty Capital currently has a consensus rating of “Hold” and a consensus target price of $42.38.

The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market capitalization of $3.47 billion, a PE ratio of 9.52 and a beta of 0.54.

In related news, CFO Michael C. Hughes bought 13,605 shares of the business’s stock in a transaction dated Friday, November 30th. The stock was bought at an average price of $7.35 per share, for a total transaction of $99,996.75. Following the purchase, the chief financial officer now owns 103,525 shares in the company, valued at approximately $760,908.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.48% of the company’s stock.

A number of institutional investors have recently modified their holdings of SRC. FMR LLC raised its stake in Spirit Realty Capital by 30.8% in the 2nd quarter. FMR LLC now owns 55,511,319 shares of the real estate investment trust’s stock worth $445,756,000 after purchasing an additional 13,075,802 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Spirit Realty Capital by 2,087.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 4,284,051 shares of the real estate investment trust’s stock worth $34,644,000 after purchasing an additional 4,088,167 shares in the last quarter. Cohen & Steers Inc. raised its stake in Spirit Realty Capital by 106.0% in the 3rd quarter. Cohen & Steers Inc. now owns 6,095,107 shares of the real estate investment trust’s stock worth $49,127,000 after purchasing an additional 3,136,863 shares in the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in Spirit Realty Capital in the 3rd quarter worth about $24,390,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Spirit Realty Capital in the 3rd quarter worth about $10,827,000.

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About Spirit Realty Capital (NYSE:SRC)

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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