Long Pond Capital LP lifted its holdings in Spirit Realty Capital Inc (NYSE:SRC) by 463.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,811,310 shares of the real estate investment trust’s stock after buying an additional 1,489,696 shares during the quarter. Spirit Realty Capital comprises 2.3% of Long Pond Capital LP’s portfolio, making the stock its 10th biggest holding. Long Pond Capital LP’s holdings in Spirit Realty Capital were worth $77,270,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Spirit Realty Capital in the second quarter valued at about $27,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Spirit Realty Capital during the 2nd quarter worth about $34,000. Advisory Services Network LLC grew its position in shares of Spirit Realty Capital by 43.9% during the 1st quarter. Advisory Services Network LLC now owns 1,640 shares of the real estate investment trust’s stock worth $65,000 after buying an additional 500 shares during the period. Pacer Advisors Inc. grew its position in shares of Spirit Realty Capital by 18.9% during the 2nd quarter. Pacer Advisors Inc. now owns 2,305 shares of the real estate investment trust’s stock worth $98,000 after buying an additional 366 shares during the period. Finally, Machina Capital S.A.S. acquired a new position in shares of Spirit Realty Capital during the 2nd quarter worth about $125,000. 91.84% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Jay Young sold 10,648 shares of Spirit Realty Capital stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $45.79, for a total transaction of $487,571.92. Following the transaction, the executive vice president now owns 18,890 shares in the company, valued at approximately $864,973.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.92% of the company’s stock.
NYSE:SRC opened at $47.24 on Friday. Spirit Realty Capital Inc has a fifty-two week low of $33.86 and a fifty-two week high of $48.59. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market capitalization of $4.26 billion, a PE ratio of 12.50 and a beta of 0.39. The business’s 50-day simple moving average is $45.92 and its 200-day simple moving average is $42.61.
Spirit Realty Capital (NYSE:SRC) last released its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.49 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.33). Spirit Realty Capital had a net margin of 37.11% and a return on equity of 6.54%. The business had revenue of $115.70 million for the quarter, compared to the consensus estimate of $108.48 million. During the same quarter last year, the firm earned $0.20 EPS. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, research analysts expect that Spirit Realty Capital Inc will post 3.14 earnings per share for the current year.
The firm also recently disclosed a — dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.625 per share. This represents a dividend yield of 5.3%. The ex-dividend date of this dividend is Friday, September 27th. Spirit Realty Capital’s dividend payout ratio (DPR) is presently 66.14%.
Several equities analysts have recently issued reports on SRC shares. JPMorgan Chase & Co. boosted their target price on Spirit Realty Capital from $41.00 to $44.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 4th. ValuEngine lowered Spirit Realty Capital from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Morgan Stanley upgraded Spirit Realty Capital from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $41.00 to $49.00 in a research report on Wednesday, July 10th. Stifel Nicolaus started coverage on Spirit Realty Capital in a research report on Thursday, August 29th. They set a “buy” rating and a $51.50 target price for the company. Finally, Zacks Investment Research upgraded Spirit Realty Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $45.30.
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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