Sumitomo Mitsui Asset Management Company LTD Reduces Holdings in Spirit Realty Capital Inc (SRC)

Sumitomo Mitsui Asset Management Company LTD reduced its position in Spirit Realty Capital Inc (NYSE:SRC) by 93.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,320 shares of the real estate investment trust’s stock after selling 233,466 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Spirit Realty Capital were worth $131,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SRC. Virtu Financial LLC acquired a new position in Spirit Realty Capital during the 2nd quarter worth approximately $113,000. Trust Co. of Oklahoma purchased a new stake in Spirit Realty Capital during the 2nd quarter worth approximately $117,000. Fort Washington Investment Advisors Inc. OH purchased a new stake in Spirit Realty Capital during the 2nd quarter worth approximately $147,000. Fox Run Management L.L.C. purchased a new stake in Spirit Realty Capital during the 2nd quarter worth approximately $161,000. Finally, Verition Fund Management LLC purchased a new stake in Spirit Realty Capital during the 1st quarter worth approximately $197,000. 91.32% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have issued reports on the company. ValuEngine downgraded Spirit Realty Capital from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Zacks Investment Research downgraded Spirit Realty Capital from a “buy” rating to a “hold” rating in a report on Tuesday, June 19th. TheStreet upgraded Spirit Realty Capital from a “c” rating to a “b-” rating in a research note on Wednesday, August 8th. Finally, BTIG Research downgraded Spirit Realty Capital from a “buy” rating to a “neutral” rating in a research note on Thursday, June 21st. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $9.08.

Shares of Spirit Realty Capital stock traded up $0.02 during trading on Friday, hitting $8.37. The stock had a trading volume of 6,844,900 shares, compared to its average volume of 5,769,778. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.69. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 9.85 and a beta of 0.47. Spirit Realty Capital Inc has a fifty-two week low of $7.34 and a fifty-two week high of $8.84.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.97%. The ex-dividend date is Thursday, September 27th. Spirit Realty Capital’s dividend payout ratio (DPR) is presently 84.71%.

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 providing superior risk adjusted returns and steady dividend growth for our stockholders.

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

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