Sound Income Strategies LLC Increases Stake in Spirit Realty Capital, Inc. (NYSE:SRC)

Sound Income Strategies LLC lifted its stake in shares of Spirit Realty Capital, Inc. (NYSE:SRC – Get Rating) by 23.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 174,494 shares of the real estate investment trust’s stock after buying an additional 32,758 shares during the quarter. Sound Income Strategies LLC owned about 0.12% of Spirit Realty Capital worth $6,968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Foundations Investment Advisors LLC increased its position in shares of Spirit Realty Capital by 74.6% during the fourth quarter. Foundations Investment Advisors LLC now owns 13,510 shares of the real estate investment trust’s stock valued at $539,000 after buying an additional 5,773 shares during the period. MADDEN SECURITIES Corp grew its holdings in Spirit Realty Capital by 10.5% in the fourth quarter. MADDEN SECURITIES Corp now owns 41,450 shares of the real estate investment trust’s stock worth $1,655,000 after purchasing an additional 3,925 shares during the period. Coldstream Capital Management Inc. purchased a new stake in Spirit Realty Capital in the fourth quarter worth about $256,000. Yousif Capital Management LLC grew its holdings in Spirit Realty Capital by 3.2% in the fourth quarter. Yousif Capital Management LLC now owns 71,795 shares of the real estate investment trust’s stock worth $2,867,000 after purchasing an additional 2,256 shares during the period. Finally, Bernzott Capital Advisors purchased a new stake in Spirit Realty Capital in the third quarter worth about $12,384,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Spirit Realty Capital Stock Performance

Spirit Realty Capital stock traded down $0.15 during midday trading on Friday, reaching $38.73. 1,960,466 shares of the company traded hands, compared to its average volume of 905,988. The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of 18.99, a price-to-earnings-growth ratio of 5.94 and a beta of 1.27. The business has a 50 day moving average of $42.14 and a two-hundred day moving average of $40.37. Spirit Realty Capital, Inc. has a 12 month low of $34.31 and a 12 month high of $48.24. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.15 and a quick ratio of 0.15.

Spirit Realty Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Friday, March 31st will be given a $0.663 dividend. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $2.65 annualized dividend and a yield of 6.85%. Spirit Realty Capital’s payout ratio is presently 129.90%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Raymond James cut shares of Spirit Realty Capital from an “outperform” rating to a “market perform” rating in a report on Monday, January 9th. StockNews.com assumed coverage on shares of Spirit Realty Capital in a report on Thursday. They issued a “hold” rating on the stock. Mizuho upped their price objective on shares of Spirit Realty Capital from $37.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, December 8th. Oppenheimer reiterated a “market perform” rating and set a $38.00 price target on shares of Spirit Realty Capital in a report on Tuesday, March 7th. Finally, Truist Financial cut their price target on shares of Spirit Realty Capital from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, December 2nd. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $43.89.

About Spirit Realty Capital

(Get Rating)

Spirit Realty Capital, Inc operates as a holding company, which engages in investments in real estate. Its in-house capabilities include acquisition, portfolio management, asset management, credit research, real estate research, legal, finance, accounting, and capital markets. The company was founded on August 14, 2003, and is headquartered in Dallas, TX.