Scopia Capital Management LP raised its stake in shares of Spirit Realty Capital Inc (NYSE:SRC) by 4.3% in the second quarter, Holdings Channel reports. The institutional investor owned 2,695,324 shares of the real estate investment trust’s stock after buying an additional 111,851 shares during the quarter. Spirit Realty Capital accounts for about 5.1% of Scopia Capital Management LP’s holdings, making the stock its 6th biggest position. Scopia Capital Management LP’s holdings in Spirit Realty Capital were worth $114,983,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC purchased a new position in Spirit Realty Capital during the second quarter valued at $27,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Spirit Realty Capital in the second quarter worth $34,000. Advisory Services Network LLC grew its holdings 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 acquiring an additional 500 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Spirit Realty Capital by 18.9% in the second quarter. Pacer Advisors Inc. now owns 2,305 shares of the real estate investment trust’s stock worth $98,000 after acquiring an additional 366 shares during the period. Finally, Machina Capital S.A.S. bought a new stake in shares of Spirit Realty Capital in the second quarter worth $125,000.
In related news, EVP Jay Young sold 10,648 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $45.79, for a total value of $487,571.92. Following the sale, the executive vice president now directly owns 18,890 shares in the company, valued at $864,973.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.92% of the stock is currently owned by insiders.
Spirit Realty Capital (NYSE:SRC) last released its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.33). The business had revenue of $115.70 million during the quarter, compared to the consensus estimate of $108.48 million. Spirit Realty Capital had a return on equity of 6.54% and a net margin of 37.11%. The business’s revenue was up 12.9% on a year-over-year basis. During the same period last year, the company earned $0.20 EPS. Analysts anticipate that Spirit Realty Capital Inc will post 3.14 EPS for the current fiscal year.
The company also recently announced a — dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.625 dividend. The ex-dividend date is Friday, September 27th. This represents a dividend yield of 5.3%. Spirit Realty Capital’s dividend payout ratio is currently 66.14%.
Several analysts have issued reports on SRC shares. ValuEngine lowered Spirit Realty Capital from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. Stifel Nicolaus initiated coverage on Spirit Realty Capital in a research note on Thursday, August 29th. They issued a “buy” rating and a $51.50 price objective for the company. Morgan Stanley upped their price objective on Spirit Realty Capital from $49.00 to $51.00 and gave the stock an “overweight” rating in a research note on Tuesday. JPMorgan Chase & Co. upped their price objective on Spirit Realty Capital from $41.00 to $44.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 4th. Finally, Zacks Investment Research raised Spirit Realty Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Spirit Realty Capital currently has a consensus rating of “Hold” and an average target price of $45.70.
Spirit Realty Capital Company Profile
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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