Spirit Realty Capital (NYSE:SRC) Stock Rating Lowered by Zacks Investment Research

Spirit Realty Capital (NYSE:SRCGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday, Zacks.com reports.

According to Zacks, “Spirit Realty Capital, Inc. is a real estate investment trust. It acquires single tenant, operationally essential real estate where the tenants conduct retail, service or distribution activities. The Company has investments throughout the United States. Its portfolio of properties is leased to tenants operating in different industries which includes restaurants; general, specialty and discount retailers; movie theatres; education facilities; health, fitness and recreational facilities; automotive dealers, parts and service facilities; and supermarkets. Spirit Realty Capital, Inc. is based in Scottsdale, Arizona. “

Other research analysts also recently issued research reports about the company. Janney Montgomery Scott raised Spirit Realty Capital from a “neutral” rating to a “buy” rating and increased their target price for the company from $52.00 to $53.00 in a report on Wednesday, January 12th. Jefferies Financial Group lowered shares of Spirit Realty Capital from a “buy” rating to a “hold” rating and cut their target price for the company from $56.00 to $52.00 in a research report on Monday, January 10th. Raymond James reduced their target price 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. Mizuho lifted their price target on shares of Spirit Realty Capital from $48.00 to $49.00 in a research note on Thursday, January 20th. Finally, StockNews.com initiated coverage on shares of Spirit Realty Capital in a research report on Thursday, March 31st. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $52.80.

Shares of NYSE:SRC opened at $46.09 on Thursday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.15 and a current ratio of 0.15. The firm has a market cap of $5.89 billion, a price-to-earnings ratio of 33.89 and a beta of 1.27. The business has a 50-day simple moving average of $46.23 and a two-hundred day simple moving average of $47.01. Spirit Realty Capital has a fifty-two week low of $43.65 and a fifty-two week high of $52.29.

Spirit Realty Capital (NYSE:SRCGet Rating) last issued its earnings results on Monday, February 14th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.50). The company had revenue of $156.06 million during the quarter, compared to analysts’ expectations of $156.35 million. Spirit Realty Capital had a return on equity of 4.60% and a net margin of 27.80%. The company’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.74 EPS. As a group, research analysts predict that Spirit Realty Capital will post 3.43 earnings per share for the current year.

In other Spirit Realty Capital news, CAO Jay Young sold 19,037 shares of the company’s stock in a transaction that occurred on Friday, February 25th. The stock was sold at an average price of $46.38, for a total value of $882,936.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lazard Asset Management LLC increased its holdings in shares of Spirit Realty Capital by 17.6% in the fourth quarter. Lazard Asset Management LLC now owns 1,489 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 223 shares during the last quarter. Cypress Wealth Services LLC raised its holdings in shares of Spirit Realty Capital by 5.1% during the 4th quarter. Cypress Wealth Services LLC now owns 4,580 shares of the real estate investment trust’s stock worth $221,000 after acquiring an additional 224 shares in the last quarter. Picton Mahoney Asset Management boosted its position in shares of Spirit Realty Capital by 0.3% during the 3rd quarter. Picton Mahoney Asset Management now owns 87,697 shares of the real estate investment trust’s stock valued at $4,038,000 after acquiring an additional 230 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Spirit Realty Capital by 1.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 16,021 shares of the real estate investment trust’s stock valued at $772,000 after acquiring an additional 238 shares during the last quarter. Finally, Adams Wealth Management grew its holdings in shares of Spirit Realty Capital by 3.2% in the third quarter. Adams Wealth Management now owns 8,141 shares of the real estate investment trust’s stock valued at $375,000 after purchasing an additional 252 shares in the last quarter. 93.92% of the stock is owned by institutional investors and hedge funds.

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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