Brookstone Capital Management Invests $207,000 in Spirit Realty Capital Inc (NYSE:SRC)

Brookstone Capital Management acquired a new stake in shares of Spirit Realty Capital Inc (NYSE:SRC) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 6,144 shares of the real estate investment trust’s stock, valued at approximately $207,000.

Other hedge funds have also recently bought and sold shares of the company. Amundi Pioneer Asset Management Inc. raised its stake in shares of Spirit Realty Capital by 143.1% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 152,138 shares of the real estate investment trust’s stock worth $6,045,000 after buying an additional 89,560 shares during the period. Nuveen Asset Management LLC raised its stake in Spirit Realty Capital by 6.7% during the first quarter. Nuveen Asset Management LLC now owns 370,876 shares of the real estate investment trust’s stock valued at $9,699,000 after purchasing an additional 23,247 shares in the last quarter. M&T Bank Corp raised its stake in Spirit Realty Capital by 35.4% during the first quarter. M&T Bank Corp now owns 9,260 shares of the real estate investment trust’s stock valued at $242,000 after purchasing an additional 2,421 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Spirit Realty Capital by 0.9% in the first quarter. Alliancebernstein L.P. now owns 208,514 shares of the real estate investment trust’s stock valued at $5,453,000 after acquiring an additional 1,943 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Spirit Realty Capital by 33.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,463 shares of the real estate investment trust’s stock valued at $614,000 after acquiring an additional 5,872 shares during the period.

Several research analysts have issued reports on the stock. BofA Securities upgraded shares of Spirit Realty Capital from a “neutral” rating to a “buy” rating in a report on Monday, August 24th. Berenberg Bank started coverage on shares of Spirit Realty Capital in a report on Tuesday, June 30th. They issued a “buy” rating and a $47.00 price target on the stock. Zacks Investment Research cut shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a report on Tuesday, October 6th. Jefferies Financial Group assumed coverage on shares of Spirit Realty Capital in a research report on Monday, June 29th. They set a “buy” rating and a $43.00 target price on the stock. Finally, Morgan Stanley lifted their price objective on shares of Spirit Realty Capital from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Friday, August 21st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $42.09.

SRC stock opened at $32.45 on Friday. The firm has a market cap of $3.34 billion, a PE ratio of 47.72 and a beta of 1.04. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93. The firm’s 50 day moving average price is $35.37 and its 200-day moving average price is $32.63. Spirit Realty Capital Inc has a one year low of $18.37 and a one year high of $54.63.

Spirit Realty Capital (NYSE:SRC) last released its quarterly earnings results on Friday, July 31st. The real estate investment trust reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.57). The firm had revenue of $117.19 million for the quarter, compared to analysts’ expectations of $113.65 million. Spirit Realty Capital had a net margin of 13.17% and a return on equity of 2.19%. During the same period in the previous year, the firm posted $0.86 EPS. Equities research analysts predict that Spirit Realty Capital Inc will post 2.61 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 7.70%. The ex-dividend date was Tuesday, September 29th. Spirit Realty Capital’s payout ratio is presently 74.85%.

Spirit Realty Capital 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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Institutional Ownership by Quarter for Spirit Realty Capital (NYSE:SRC)

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