Brokerages Expect Spirit Realty Capital Inc (NYSE:SRC) to Post $0.85 Earnings Per Share

Brokerages predict that Spirit Realty Capital Inc (NYSE:SRC) will post earnings of $0.85 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Spirit Realty Capital’s earnings, with the highest EPS estimate coming in at $0.87 and the lowest estimate coming in at $0.83. Spirit Realty Capital posted earnings per share of $1.00 during the same quarter last year, which would indicate a negative year-over-year growth rate of 15%. The business is expected to issue its next earnings report on Tuesday, August 6th.

On average, analysts expect that Spirit Realty Capital will report full-year earnings of $3.35 per share for the current year, with EPS estimates ranging from $3.28 to $3.38. For the next fiscal year, analysts anticipate that the firm will post earnings of $3.13 per share, with EPS estimates ranging from $3.00 to $3.28. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that follow Spirit Realty Capital.

Spirit Realty Capital (NYSE:SRC) last announced its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.48 EPS for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.33). Spirit Realty Capital had a net margin of 31.91% and a return on equity of 5.82%. The business had revenue of $112.59 million for the quarter, compared to analysts’ expectations of $104.71 million. During the same period in the prior year, the company posted $1.07 earnings per share. The firm’s quarterly revenue was up 8.7% on a year-over-year basis.

A number of analysts have recently issued reports on SRC shares. ValuEngine raised shares of Spirit Realty Capital from a “hold” rating to a “buy” rating in a research note on Monday, June 3rd. Zacks Investment Research raised shares of Spirit Realty Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. Deutsche Bank cut shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Spirit Realty Capital from $41.00 to $44.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 4th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Spirit Realty Capital currently has a consensus rating of “Hold” and an average target price of $42.00.

Shares of NYSE SRC traded up $0.19 during midday trading on Tuesday, reaching $44.77. The stock had a trading volume of 612,402 shares, compared to its average volume of 1,097,998. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.42 and a quick ratio of 0.42. The stock has a market cap of $3.91 billion, a PE ratio of 11.84 and a beta of 0.43. Spirit Realty Capital has a 12-month low of $33.86 and a 12-month high of $45.06.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.625 dividend. The ex-dividend date is Thursday, June 27th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.58%. Spirit Realty Capital’s dividend payout ratio (DPR) is presently 66.14%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Osborn Williams & Donohoe LLC purchased a new stake in shares of Spirit Realty Capital in the first quarter worth $25,000. Pinnacle Financial Partners Inc. purchased a new stake in shares of Spirit Realty Capital in the first quarter worth $44,000. Advisory Services Network LLC increased its stake in shares of Spirit Realty Capital by 43.9% in the first quarter. Advisory Services Network LLC now owns 1,640 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 500 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in shares of Spirit Realty Capital in the first quarter worth $111,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of Spirit Realty Capital in the first quarter worth $244,000. 90.61% 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 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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