Point72 Asset Management L.P. increased its position in Spirit Realty Capital Inc (NYSE:SRC) by 972.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,498 shares of the real estate investment trust’s stock after acquiring an additional 46,698 shares during the period. Point72 Asset Management L.P.’s holdings in Spirit Realty Capital were worth $2,465,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brookfield Asset Management Inc. acquired a new position in Spirit Realty Capital during the second quarter worth $72,835,000. Long Pond Capital LP grew its holdings in Spirit Realty Capital by 463.2% in the second quarter. Long Pond Capital LP now owns 1,811,310 shares of the real estate investment trust’s stock valued at $77,270,000 after purchasing an additional 1,489,696 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of Spirit Realty Capital in the second quarter valued at $49,585,000. State Street Corp increased its position in shares of Spirit Realty Capital by 43.9% in the third quarter. State Street Corp now owns 3,359,961 shares of the real estate investment trust’s stock valued at $162,879,000 after buying an additional 1,024,631 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Spirit Realty Capital by 5.5% during the 2nd quarter. Vanguard Group Inc. now owns 14,663,135 shares of the real estate investment trust’s stock worth $625,530,000 after buying an additional 763,350 shares during the last quarter. 92.31% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. raised shares of Spirit Realty Capital from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $50.00 to $52.00 in a research note on Tuesday, October 8th. Stifel Nicolaus lifted their target price on shares of Spirit Realty Capital from $53.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Zacks Investment Research downgraded shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a report on Tuesday. Morgan Stanley increased their price target on shares of Spirit Realty Capital from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Tuesday, September 17th. Finally, Capital One Financial raised shares of Spirit Realty Capital from an “equal weight” rating to an “overweight” rating and set a $56.00 price objective for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $52.14.
Spirit Realty Capital (NYSE:SRC) last posted its quarterly earnings data on Tuesday, November 5th. The real estate investment trust reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.65. The firm had revenue of $167.00 million during the quarter, compared to analysts’ expectations of $113.15 million. Spirit Realty Capital had a return on equity of 8.03% and a net margin of 42.82%. The firm’s quarterly revenue was up 52.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.16 EPS. As a group, equities analysts expect that Spirit Realty Capital Inc will post 3.16 EPS for the current fiscal year.
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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