Spirit Realty Capital (SRC) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Spirit Realty Capital (NYSE:SRC) from a sell rating to a hold rating in a research report released on Wednesday morning, Zacks.com reports.

According to Zacks, “Spirit Realty Capital, Inc. is a real estate investment trust. It acquires single tenant, operationally essential real estate where the tenants conduct retail, service or distribution activities. The Company has investments throughout the United States. Its portfolio of properties is leased to tenants operating in different industries which includes restaurants; general, specialty and discount retailers; movie theatres; education facilities; health, fitness and recreational facilities; automotive dealers, parts and service facilities; and supermarkets. Spirit Realty Capital, Inc. is based in Scottsdale, Arizona. “

Several other analysts have also recently issued reports on SRC. Deutsche Bank cut Spirit Realty Capital from a buy rating to a hold rating in a report on Wednesday, May 8th. Mizuho raised Spirit Realty Capital to a buy rating and set a $42.00 price objective on the stock in a report on Wednesday, January 23rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $41.00.

Shares of SRC opened at $43.05 on Wednesday. The company has a market cap of $3.76 billion, a PE ratio of 11.39 and a beta of 0.53. Spirit Realty Capital has a 1 year low of $33.86 and a 1 year high of $44.20. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.42 and a current ratio of 0.42.

Spirit Realty Capital (NYSE:SRC) last issued its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.33). The firm had revenue of $112.59 million for the quarter, compared to analysts’ expectations of $104.71 million. Spirit Realty Capital had a return on equity of 5.82% and a net margin of 31.91%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the company earned $1.07 earnings per share. As a group, equities analysts forecast that Spirit Realty Capital will post 3.22 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in SRC. Massachusetts Financial Services Co. MA purchased a new stake in Spirit Realty Capital during the 4th quarter valued at $38,319,000. Norges Bank purchased a new stake in Spirit Realty Capital during the 4th quarter valued at $33,686,000. Cbre Clarion Securities LLC raised its holdings in Spirit Realty Capital by 404.4% during the 1st quarter. Cbre Clarion Securities LLC now owns 866,242 shares of the real estate investment trust’s stock valued at $34,416,000 after buying an additional 694,502 shares during the period. Duff & Phelps Investment Management Co. raised its holdings in Spirit Realty Capital by 104.7% during the 1st quarter. Duff & Phelps Investment Management Co. now owns 937,300 shares of the real estate investment trust’s stock valued at $37,239,000 after buying an additional 479,420 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Spirit Realty Capital by 31.2% during the 1st quarter. Renaissance Technologies LLC now owns 1,688,802 shares of the real estate investment trust’s stock valued at $67,096,000 after buying an additional 401,268 shares during the period. Institutional investors own 90.10% of the company’s stock.

Spirit Realty Capital Company 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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