Spirit Realty Capital Inc (NYSE:SRC) CFO Michael C. Hughes bought 13,605 shares of Spirit Realty Capital stock in a transaction that occurred on Friday, November 30th. The shares were acquired at an average cost of $7.35 per share, for a total transaction of $99,996.75. Following the acquisition, the chief financial officer now owns 103,525 shares in the company, valued at approximately $760,908.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Spirit Realty Capital stock traded up $0.27 during trading hours on Monday, reaching $7.69. The stock had a trading volume of 8,559,400 shares, compared to its average volume of 5,505,852. The firm has a market cap of $3.18 billion, a PE ratio of 9.04 and a beta of 0.36. Spirit Realty Capital Inc has a 52 week low of $7.22 and a 52 week high of $8.84. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.78.
Spirit Realty Capital shares are going to reverse split on Thursday, December 13th. The 1-5 reverse split was announced on Tuesday, November 13th. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, December 12th.
Several equities analysts recently commented on SRC shares. ValuEngine lowered shares of Spirit Realty Capital from a “hold” rating to a “sell” rating in a report on Tuesday, September 4th. Bank of America lowered shares of Spirit Realty Capital from a “neutral” rating to an “underperform” rating and set a $8.00 target price on the stock. in a report on Thursday, November 15th. Zacks Investment Research raised shares of Spirit Realty Capital from a “sell” rating to a “hold” rating in a report on Saturday, August 11th. Finally, TheStreet raised shares of Spirit Realty Capital from a “c” rating to a “b-” rating in a report on Wednesday, August 8th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $8.71.
A number of institutional investors have recently made changes to their positions in the business. FMR LLC grew its holdings in Spirit Realty Capital by 4.0% in the 3rd quarter. FMR LLC now owns 57,715,627 shares of the real estate investment trust’s stock worth $465,189,000 after acquiring an additional 2,204,308 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Spirit Realty Capital by 168.8% in the 2nd quarter. Renaissance Technologies LLC now owns 8,029,500 shares of the real estate investment trust’s stock worth $64,477,000 after acquiring an additional 5,042,600 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Spirit Realty Capital by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 7,584,421 shares of the real estate investment trust’s stock worth $61,127,000 after acquiring an additional 19,467 shares during the last quarter. LSV Asset Management grew its holdings in Spirit Realty Capital by 5.3% in the 3rd quarter. LSV Asset Management now owns 7,079,210 shares of the real estate investment trust’s stock worth $57,058,000 after acquiring an additional 355,110 shares during the last quarter. Finally, Cohen & Steers Inc. grew its holdings in Spirit Realty Capital by 106.0% in the 3rd quarter. Cohen & Steers Inc. now owns 6,095,107 shares of the real estate investment trust’s stock worth $49,127,000 after acquiring an additional 3,136,863 shares during the last quarter. 91.42% of the stock is currently owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION WARNING: “Insider Buying: Spirit Realty Capital Inc (SRC) CFO Buys 13,605 Shares of Stock” was posted by Baseball Daily News and is owned by of Baseball Daily News. If you are reading this piece on another publication, it was copied illegally and republished in violation of United States and international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.baseballdailydigest.com/news/2018/12/03/insider-buying-spirit-realty-capital-inc-src-cfo-buys-13605-shares-of-stock.html.
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.
Read More: Fundamental Analysis and Choosing Stocks
Receive News & Ratings for Spirit Realty Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit Realty Capital and related companies with MarketBeat.com's FREE daily email newsletter.