Brokerages expect that Spirit Realty Capital Inc (NYSE:SRC) will report $109.87 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Spirit Realty Capital’s earnings, with estimates ranging from $107.65 million to $112.52 million. Spirit Realty Capital reported sales of $100.83 million in the same quarter last year, which indicates a positive year-over-year growth rate of 9%. The firm is expected to report its next quarterly earnings report on Monday, November 4th.
On average, analysts expect that Spirit Realty Capital will report full-year sales of $433.49 million for the current fiscal year, with estimates ranging from $426.38 million to $441.62 million. For the next year, analysts anticipate that the business will post sales of $472.63 million, with estimates ranging from $459.96 million to $486.47 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Spirit Realty Capital.
Spirit Realty Capital (NYSE:SRC) last issued its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.49 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.33). The business had revenue of $115.70 million for the quarter, compared to the consensus estimate of $108.48 million. Spirit Realty Capital had a net margin of 37.11% and a return on equity of 6.54%. The business’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.20 EPS.
Shares of Spirit Realty Capital stock opened at $45.88 on Tuesday. The firm has a fifty day moving average of $44.73 and a two-hundred day moving average of $41.90. The stock has a market capitalization of $4.20 billion, a price-to-earnings ratio of 13.66 and a beta of 0.42. Spirit Realty Capital has a 52 week low of $33.86 and a 52 week high of $46.86. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.36 and a current ratio of 0.36.
In related news, EVP Jay Young sold 10,648 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $45.79, for a total value of $487,571.92. Following the completion of the sale, the executive vice president now owns 18,890 shares in the company, valued at approximately $864,973.10. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.92% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Osborn Williams & Donohoe LLC acquired a new position in Spirit Realty Capital in the 1st quarter worth $25,000. Patriot Financial Group Insurance Agency LLC acquired a new position in Spirit Realty Capital in the 2nd quarter worth $27,000. Steward Partners Investment Advisory LLC acquired a new position in Spirit Realty Capital in the 2nd quarter worth $34,000. Pinnacle Financial Partners Inc. acquired a new position in Spirit Realty Capital in the 1st quarter worth $44,000. Finally, Prestige Wealth Management Group LLC acquired a new position in Spirit Realty Capital in the 2nd quarter worth $46,000. Institutional investors and hedge funds own 89.82% 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.
Recommended Story: What is a Special Dividend?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.