$109.87 Million in Sales Expected for Spirit Realty Capital Inc (NYSE:SRC) This Quarter

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.

Several brokerages have commented on SRC. Deutsche Bank cut shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Morgan Stanley upgraded shares of Spirit Realty Capital from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $41.00 to $49.00 in a research report on Wednesday, July 10th. Zacks Investment Research upgraded shares of Spirit Realty Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, August 20th. ValuEngine cut shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Finally, JPMorgan Chase & Co. upped their target price on shares of Spirit Realty Capital from $41.00 to $44.00 and gave the company a “neutral” rating in a research report on Tuesday, June 4th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Spirit Realty Capital has an average rating of “Hold” and a consensus price target of $43.75.

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.

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