Spirit Realty Capital (SRC) PT Lowered to $8.00 at JPMorgan Chase

Spirit Realty Capital (NYSE:SRC) had its price target reduced by analysts at JPMorgan Chase from $9.00 to $8.00 in a report released on Tuesday. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase’s price objective suggests a potential upside of 1.27% from the company’s current price.

SRC has been the subject of a number of other reports. Bank of America cut shares of Spirit Realty Capital from a “buy” rating to a “neutral” rating and set a $9.00 price objective for the company. in a research note on Monday, February 26th. ValuEngine cut shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Zacks Investment Research cut shares of Spirit Realty Capital from a “hold” rating to a “sell” rating in a research note on Thursday, March 15th. B. Riley reissued a “buy” rating on shares of Spirit Realty Capital in a research note on Thursday, February 22nd. Finally, SunTrust Banks raised shares of Spirit Realty Capital from a “hold” rating to a “buy” rating in a research note on Monday, January 22nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Spirit Realty Capital presently has an average rating of “Hold” and a consensus target price of $9.37.

SRC opened at $7.90 on Tuesday. The firm has a market cap of $3,509.89, a P/E ratio of 9.29 and a beta of 0.46. Spirit Realty Capital has a fifty-two week low of $6.64 and a fifty-two week high of $10.08. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.60 and a quick ratio of 0.60.

Spirit Realty Capital (NYSE:SRC) last posted its earnings results on Thursday, February 22nd. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.15). The company had revenue of $165.35 million for the quarter, compared to analysts’ expectations of $166.69 million. Spirit Realty Capital had a net margin of 11.53% and a return on equity of 2.84%. The business’s revenue was down 4.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.21 earnings per share. research analysts predict that Spirit Realty Capital will post 0.82 EPS for the current year.

In other news, Director Richard I. Gilchrist bought 7,500 shares of the stock in a transaction dated Thursday, March 15th. The stock was purchased at an average price of $8.00 per share, for a total transaction of $60,000.00. Following the acquisition, the director now owns 67,929 shares of the company’s stock, valued at $543,432. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Thomas D. Senkbeil bought 25,200 shares of the stock in a transaction dated Tuesday, March 6th. The stock was purchased at an average price of $7.93 per share, with a total value of $199,836.00. Following the acquisition, the director now directly owns 67,052 shares in the company, valued at approximately $531,722.36. The disclosure for this purchase can be found here. 0.50% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in SRC. Dimensional Fund Advisors LP lifted its holdings in shares of Spirit Realty Capital by 5.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 7,298,760 shares of the real estate investment trust’s stock worth $62,548,000 after acquiring an additional 366,545 shares during the last quarter. California Public Employees Retirement System lifted its holdings in Spirit Realty Capital by 13.6% during the 3rd quarter. California Public Employees Retirement System now owns 1,125,564 shares of the real estate investment trust’s stock valued at $9,646,000 after buying an additional 135,118 shares in the last quarter. Pensionfund DSM Netherlands lifted its holdings in Spirit Realty Capital by 40.4% during the 4th quarter. Pensionfund DSM Netherlands now owns 139,000 shares of the real estate investment trust’s stock valued at $1,193,000 after buying an additional 40,000 shares in the last quarter. Pensionfund Sabic lifted its holdings in Spirit Realty Capital by 47.4% during the 4th quarter. Pensionfund Sabic now owns 56,000 shares of the real estate investment trust’s stock valued at $480,000 after buying an additional 18,000 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in Spirit Realty Capital by 162.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 68,700 shares of the real estate investment trust’s stock valued at $589,000 after buying an additional 42,500 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

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About Spirit Realty Capital

Spirit Realty Capital, Inc (NYSE:SRC) is a premier net lease real estate investment trust (REIT) that primarily invests in high-quality, operationally essential retail 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 and office properties providing superior risk adjusted returns and steady dividend growth for our shareholders.

Analyst Recommendations for Spirit Realty Capital (NYSE:SRC)

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