Bank of Montreal Can grew its stake in Spirit Realty Capital Inc (NYSE:SRC) by 40.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,176 shares of the real estate investment trust’s stock after buying an additional 9,329 shares during the period. Bank of Montreal Can’s holdings in Spirit Realty Capital were worth $1,279,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in SRC. Massachusetts Financial Services Co. MA purchased a new position in Spirit Realty Capital in the 4th quarter worth approximately $38,319,000. Norges Bank purchased a new position in Spirit Realty Capital in the 4th quarter worth approximately $33,686,000. Duff & Phelps Investment Management Co. grew its stake in Spirit Realty Capital by 104.7% in the 1st quarter. Duff & Phelps Investment Management Co. now owns 937,300 shares of the real estate investment trust’s stock worth $37,239,000 after buying an additional 479,420 shares in the last quarter. Millennium Management LLC purchased a new position in Spirit Realty Capital in the 4th quarter worth approximately $12,477,000. Finally, MERIAN GLOBAL INVESTORS UK Ltd grew its stake in Spirit Realty Capital by 129.0% in the 4th quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 501,501 shares of the real estate investment trust’s stock worth $17,677,000 after buying an additional 282,497 shares in the last quarter. 90.10% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Spirit Realty Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. Deutsche Bank cut shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Finally, Mizuho raised shares of Spirit Realty Capital to a “buy” rating and set a $42.00 price target for the company in a research note on Wednesday, January 23rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $41.00.
Spirit Realty Capital (NYSE:SRC) last announced its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.48 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.33). The business had revenue of $112.59 million during the quarter, compared to the consensus estimate of $104.71 million. Spirit Realty Capital had a return on equity of 5.82% and a net margin of 31.91%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.07 earnings per share. Equities research analysts expect that Spirit Realty Capital Inc will post 3.22 earnings per share for the current year.
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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.
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