![Spirit Realty Capital Earns “Hold” Recommendation from Analysts Spirit Realty Capital Earns “Hold” Recommendation from Analysts](https://www.claytoncountyregister.com/wp-content/uploads/2023/07/mfrack_realistic_photo_of_German_stock_exchange_c9e3c334-a8ef-4830-a582-d669d19509a1.jpeg)
Spirit Realty Capital, Inc. (NYSE:SRC) has received a “Hold” recommendation from the ten analysts currently covering the company, according to MarketBeat Ratings. Of these analysts, two have given the stock a sell rating, four have issued a hold rating, and four have rated the stock as a buy. The average 1-year price objective among analysts who have covered the stock in the last year is $42.30.
Stifel Nicolaus recently raised their price target on Spirit Realty Capital from $45.50 to $46.00, giving the company a “buy” rating. Mizuho also raised their target price from $40.00 to $41.00. Additionally, StockNews.com initiated coverage on Spirit Realty Capital with a “hold” rating. JPMorgan Chase & Co. reduced their price target from $47.00 to $44.00 and maintained an “overweight” rating on the stock. Truist Financial reduced their target price from $46.00 to $45.00.
Institutional investors have been active with Spirit Realty Capital recently. Money Concepts Capital Corp and CoreCap Advisors LLC both purchased new positions in the fourth quarter, while Householder Group Estate & Retirement Specialist LLC and Northwestern Mutual Wealth Management Co. also increased their holdings. Overall, institutional investors own 96.09% of the company’s stock.
Shares of Spirit Realty Capital opened at $35.23 on Friday. The stock has a 50-day moving average of $38.87 and a 200-day moving average of $38.95. Spirit Realty Capital has a market capitalization of $4.98 billion, and its stock has a price-to-earnings ratio of 17.27 and a beta of 1.25. The company has a debt-to-equity ratio of 0.87 and a current ratio of 1.05.
Spirit Realty Capital previously reported earnings of $0.36 per share for the quarter, which fell short of analysts’ consensus estimate of $0.86. The company’s revenue for the quarter was $1.00 million, compared to the consensus estimate of $187.23 million. The real estate investment trust’s net margin was 39.59%, and it had a return on equity of 6.69%. Analysts project that Spirit Realty Capital will post earnings per share of 3.45 for the current fiscal year.
The company recently announced an increase in its quarterly dividend, which will be paid on October 13th. Stockholders of record on September 29th will receive a dividend of $0.6696 per share, up from the previous quarterly dividend of $0.66. This represents an annualized dividend of $2.68 and a dividend yield of 7.60%.
Spirit Realty Capital is a net-lease real estate investment trust (REIT) that focuses on single-tenant, operationally essential real estate assets with long-term leases. The company has a diverse portfolio of properties across various industries and operates in 49 states. Please note that this article is for informational purposes only and should not be considered as financial advice.
Sources:
– MarketBeat: https://www.marketbeat.com/stocks/NYSE/SRC/
– Stifel Nicolaus: https://www.steetinsider.com/ratings/summary.php?r=SRC
– Mizuho: https://www.streetinsider.com/ratings/summary.php?r=SRC
– StockNews.com: https://www.stocknews.com/coverage/SRC/
– JPMorgan Chase & Co.: https://www.marketbeat.com/ratings/NYSE:SRC
– Truist Financial: https://www.marketbeat.com/ratings/NYSE:SRC
– Money Concepts Capital Corp: https://www.marketbeat.com/stocks/NYSE/SRC/institutional-ownership/
– CoreCap Advisors LLC: https://www.marketbeat.com/stocks/NYSE/SRC/institutional-ownership/
– Householder Group Estate & Retirement Specialist LLC: https://www.marketbeat.com/stocks/NYSE/SRC/institutional-ownership/
– Northwestern Mutual Wealth Management Co.: https://www.marketbeat.com/stocks/NYSE/SRC/institutional-ownership/
– Businesswire: https://www.businesswire.com/news/home/20200615005049/en
– MarketBeat: https://www.marketbeat.com/ratings/NYSE:SRC
– MarketBeat: https://www.marketbeat.com/stocks/NYSE/SRC/earnings/
– Investing.com: https://www.investing.com/equities/spirit-realty-capital-inc-consensus-estimates