Brokerages Expect Spirit Realty Capital, Inc. (NYSE:SRC) Will Post Earnings of $0.89 Per Share

Analysts forecast that Spirit Realty Capital, Inc. (NYSE:SRC – Get Rating) will report $0.88 earnings per share for the current quarter, according to Zacks. Six analysts have issued estimates for Spirit Realty Capital’s earnings. The highest EPS estimate is $0.89 and the lowest is $0.87. Spirit Realty Capital posted earnings per share of $0.86 in the same quarter last year, which suggests a positive year-over-year growth rate of 2.3%. The business is expected to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Spirit Realty Capital will report full year earnings of $3.55 per share for the current financial year, with EPS estimates ranging from $3.52 to $3.57. For the next year, analysts expect that the firm will post earnings of $3.69 per share, with EPS estimates ranging from $3.64 to $3.74. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Spirit Realty Capital.

Spirit Realty Capital (NYSE:SRC – Get Rating) last released its quarterly earnings data on Tuesday, May 3rd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.42). Spirit Realty Capital had a net margin of 35.32% and a return on equity of 5.90%. During the same quarter in the previous year, the business earned $0.76 earnings per share.

A number of research analysts recently weighed in on the stock. JMP Securities assumed coverage on shares of Spirit Realty Capital in a research note on Tuesday. They issued an “outperform” rating and a $54.00 price objective for the company. Zacks Investment Research upgraded shares of Spirit Realty Capital from a “sell” rating to a “hold” rating in a research note on Tuesday. StockNews.com initiated coverage on shares of Spirit Realty Capital in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Raymond James cut their price target on shares of Spirit Realty Capital from $55.00 to $53.00 and set an “outperform” rating for the company in a report on Wednesday, February 16th. Finally, Mizuho raised their price target on shares of Spirit Realty Capital from $48.00 to $49.00 in a report on Thursday, January 20th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Spirit Realty Capital has an average rating of “Buy” and an average target price of $52.91.

In other news, CAO Jay Young sold 19,037 shares of Spirit Realty Capital stock in a transaction on Friday, February 25th. The shares were sold at an average price of $46.38, for a total transaction of $882,936.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.58% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Wexford Capital LP bought a new stake in Spirit Realty Capital in the first quarter worth $222,000. Ameritas Investment Partners Inc. lifted its stake in Spirit Realty Capital by 3.5% in the first quarter. Ameritas Investment Partners Inc. now owns 34,112 shares of the real estate investment trust’s stock worth $1,570,000 after purchasing an additional 1,140 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its stake in Spirit Realty Capital by 109.8% in the first quarter. Ontario Teachers Pension Plan Board now owns 36,111 shares of the real estate investment trust’s stock worth $1,662,000 after purchasing an additional 18,899 shares during the last quarter. Northern Trust Corp lifted its stake in Spirit Realty Capital by 0.8% in the first quarter. Northern Trust Corp now owns 1,365,359 shares of the real estate investment trust’s stock worth $62,834,000 after purchasing an additional 11,224 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new position in shares of Spirit Realty Capital in the first quarter valued at about $658,000. 97.40% of the stock is owned by institutional investors and hedge funds.

Spirit Realty Capital stock traded up $1.42 during mid-day trading on Monday, reaching $42.02. The company’s stock had a trading volume of 868,471 shares, compared to its average volume of 778,487. Spirit Realty Capital has a 12-month low of $38.74 and a 12-month high of $52.29. The company has a market capitalization of $5.64 billion, a P/E ratio of 23.09 and a beta of 1.22. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.31 and a current ratio of 0.31. The firm’s fifty day moving average price is $45.07 and its two-hundred day moving average price is $46.43.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 14th. Stockholders of record on Thursday, March 31st were issued a dividend of $0.638 per share. This represents a $2.55 dividend on an annualized basis and a dividend yield of 6.07%. The ex-dividend date was Wednesday, March 30th. Spirit Realty Capital’s dividend payout ratio is currently 140.11%.

Spirit Realty Capital Company Profile (Get Rating)

Spirit Realty Capital, Inc (NYSE: SRC) is a premier net-lease REIT that primarily invests in single-tenant, operationally essential real estate assets, subject to long-term leases. As of September 30, 2020, our diverse portfolio of 1,778 owned properties, with an aggregate leasable area of 37.2 million square feet in 48 states, included retail, industrial and office buildings leased to 296 tenants across 28 retail industries.

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