Spirit Realty Capital Inc (NYSE:SRC) was the recipient of a significant drop in short interest in the month of June. As of June 30th, there was short interest totalling 13,684,900 shares, a drop of 15.3% from the May 30th total of 16,157,100 shares. Based on an average daily volume of 1,480,000 shares, the days-to-cover ratio is currently 9.2 days. Approximately 16.0% of the shares of the company are short sold.
Several brokerages recently weighed in on SRC. Morgan Stanley increased their price target on Williams-Sonoma from $52.00 to $56.00 and gave the stock an “underweight” rating in a report on Wednesday. Deutsche Bank downgraded Ontex Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. ValuEngine raised Zogenix from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 27th. Zacks Investment Research downgraded HEXO from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. Finally, JPMorgan Chase & Co. started coverage on INTL CONS AIRL/S in a research report on Tuesday, June 4th. They issued an “overweight” rating for the company. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Spirit Realty Capital presently has an average rating of “Hold” and a consensus target price of $43.75.
Large investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue raised its position in Spirit Realty Capital by 0.8% in the first quarter. State of Alaska Department of Revenue now owns 37,460 shares of the real estate investment trust’s stock worth $1,487,000 after acquiring an additional 283 shares in the last quarter. American Century Companies Inc. purchased a new position in shares of Spirit Realty Capital in the fourth quarter valued at $5,077,000. Pictet Asset Management Ltd. increased its position in shares of Spirit Realty Capital by 34.4% in the first quarter. Pictet Asset Management Ltd. now owns 14,755 shares of the real estate investment trust’s stock valued at $586,000 after buying an additional 3,777 shares in the last quarter. Pinnacle Financial Partners Inc. purchased a new position in shares of Spirit Realty Capital in the first quarter valued at $44,000. Finally, Bank of Montreal Can increased its position in shares of Spirit Realty Capital by 40.8% in the first quarter. Bank of Montreal Can now owns 32,176 shares of the real estate investment trust’s stock valued at $1,279,000 after buying an additional 9,329 shares in the last quarter. Hedge funds and other institutional investors own 90.59% of the company’s stock.
NYSE:SRC traded up $0.01 during trading hours on Friday, hitting $44.80. The company’s stock had a trading volume of 865,321 shares, compared to its average volume of 2,053,850. The company has a 50-day moving average price of $43.86. The firm has a market capitalization of $3.91 billion, a P/E ratio of 12.62 and a beta of 0.41. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.42 and a quick ratio of 0.42. Spirit Realty Capital has a 52-week low of $33.86 and a 52-week high of $45.63.
Spirit Realty Capital (NYSE:SRC) last released its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.33). The business had revenue of $112.59 million during the quarter, compared to analysts’ expectations of $104.71 million. Spirit Realty Capital had a return on equity of 5.82% and a net margin of 31.91%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 EPS. On average, research analysts anticipate that Spirit Realty Capital will post 3.19 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 5.58%. The ex-dividend date is Thursday, June 27th. Spirit Realty Capital’s payout ratio is 66.14%.
About Spirit Realty Capital
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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