Spirit Realty Capital Inc. (NYSE: SRC) shares rose in value Monday Nov 21 with lower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, stocks were set to open up this morning. The Dow Jones Industrial Average futures YMZ6, +0.20% was 10 points, or less than 0.1%, higher at 18,863, while S&P 500 index futures ESZ6, +0.44% rose 3.95 points, or 0.2%, at 2,184.75. Nasdaq-100 NQZ6, +0.74% added 12.25 points, or 0.2%, to 4,820.75.
Analysts at Robert W. Baird upgraded shares of Spirit Realty Capital Inc. (NYSE: SRC) from Neutral to Outperform today. Robert W. Baird currently has a rating of Outperform on the stock. The one-year price target of $13.83 is above the opening price of $10.66, resulting a fair amount of other analysts to issue statements on the stock recently. Looking back over the last 52 weeks, Spirit Realty Capital Inc. stock has a high of $13.97. Usually, after analysts give an upgrade report on a stock, they will subsequently issue recurring revisions, usually followed by a price target change.
Spirit Realty Capital Inc. (NYSE: SRC) shares last traded at $10.72, which is a jump of $0.21 or 2.00% from the previous closing price. Opening at $10.66, they ranged from $10.64 and $10.78 throughout the day.
Spirit Realty Capital Inc. (NYSE: SRC) currently has a market cap of 5.18B.
Spirit Realty Capital Inc. (NYSE: SRC) Average Daily Trading Volume
The stock’s average daily volume is 5,651,870 shares out of a total float 480,935,000 and some 575,673 shares crossed the trading desk yesterday, below the norm. Swing traders often use swings in trading volume to identify substantial volume accumulation or circulation by institutional investors, so trading volume is likely to increase in the next few days.
However, one day of high volume buy side trading is not enough to assert a trend. So market traders will continue to watch for institutional sponsorship as a cue that financial institutions are moving forward.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have substantial teams of analysts that investigate thousands of stocks. So watching their interests is a good way to ensure you are buying the right stocks.
Spirit Realty Capital Inc. (NYSE: SRC) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
With that in mind, Spirit Realty Capital Inc. (NYSE: SRC) now has a 50-day MA of $11.88 and 200-day MA of $12.48. It has traded in a 52-week range between $8.90 – 13.97 and today’s last price is 23.26%% lower than the 52 week high of $13.97.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors seek companies that have grown their earnings by at least 25% over 3 consecutive years.
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