Spirit Realty Capital Inc (NYSE:SRC) Position Cut by V3 Capital Management L.P.

V3 Capital Management L.P. lessened its holdings in shares of Spirit Realty Capital Inc (NYSE:SRC) by 76.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,257,172 shares of the real estate investment trust’s stock after selling 4,036,195 shares during the quarter. Spirit Realty Capital accounts for 10.1% of V3 Capital Management L.P.’s portfolio, making the stock its 4th largest position. V3 Capital Management L.P. owned 1.47% of Spirit Realty Capital worth $44,315,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. We Are One Seven LLC bought a new stake in shares of Spirit Realty Capital in the 4th quarter worth approximately $29,000. Stevens Capital Management LP bought a new stake in Spirit Realty Capital during the 3rd quarter valued at $269,000. Resources Management Corp CT ADV bought a new stake in Spirit Realty Capital during the 3rd quarter valued at $313,000. Neuberger Berman Group LLC raised its stake in Spirit Realty Capital by 182.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 40,373 shares of the real estate investment trust’s stock valued at $325,000 after acquiring an additional 26,073 shares in the last quarter. Finally, Virtu Financial LLC raised its stake in Spirit Realty Capital by 197.8% during the 3rd quarter. Virtu Financial LLC now owns 41,730 shares of the real estate investment trust’s stock valued at $336,000 after acquiring an additional 27,719 shares in the last quarter. Hedge funds and other institutional investors own 91.15% of the company’s stock.

Shares of SRC stock traded down $0.21 during mid-day trading on Monday, hitting $40.69. 567,291 shares of the stock traded hands, compared to its average volume of 945,721. Spirit Realty Capital Inc has a twelve month low of $33.86 and a twelve month high of $44.20. The stock has a market cap of $3.52 billion, a PE ratio of 10.76 and a beta of 0.53. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.51 and a current ratio of 0.51.

Spirit Realty Capital (NYSE:SRC) last issued its quarterly earnings results on Wednesday, February 20th. The real estate investment trust reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.04. The company had revenue of $129.48 million for the quarter, compared to analysts’ expectations of $107.01 million. Spirit Realty Capital had a return on equity of 5.16% and a net margin of 26.05%. The firm’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same period last year, the firm earned $1.06 EPS. Equities research analysts predict that Spirit Realty Capital Inc will post 3.22 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 6.14%. This is a boost from Spirit Realty Capital’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, March 28th. Spirit Realty Capital’s payout ratio is presently 66.14%.

Several analysts have weighed in on SRC shares. Zacks Investment Research downgraded Spirit Realty Capital from a “hold” rating to a “sell” rating in a research note on Thursday, March 21st. Mizuho raised Spirit Realty Capital to a “buy” rating and set a $42.00 target price on the stock in a research note on Wednesday, January 23rd. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $42.38.

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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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