News articles about Spirit Realty Capital (NYSE:SRC) have been trending somewhat positive recently, Accern reports. The research firm identifies negative and positive news coverage by monitoring more than 20 million news and blog sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Spirit Realty Capital earned a daily sentiment score of 0.21 on Accern’s scale. Accern also assigned media coverage about the real estate investment trust an impact score of 45.5592556203792 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
Here are some of the news headlines that may have effected Accern Sentiment’s rankings:
- (SRC) Shares Trading up at $8.51 Spirit Realty Capital, Inc. Schedules… – First News 24 (firstnewspaper24.com)
- Spirit Realty Capital, Inc. Schedules Third Quarter 2017 Earnings Release and Conference Call – PR Newswire (press release) (prnewswire.com)
- Spirit Realty Capital, Inc. : SRC-US: Dividend Analysis : September 29th, 2017 (record date) : By the numbers : October 12, 2017 (finance.yahoo.com)
- Spirit Realty Capital, Inc. (SRC) Rating Increased to Buy at Zacks Investment Research (americanbankingnews.com)
Shares of Spirit Realty Capital (NYSE:SRC) opened at 8.57 on Friday. Spirit Realty Capital has a 12-month low of $6.64 and a 12-month high of $12.77. The company’s 50-day moving average is $8.56 and its 200-day moving average is $8.35. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of 64.92 and a beta of 0.53.
Spirit Realty Capital (NYSE:SRC) last posted its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. Spirit Realty Capital had a net margin of 9.47% and a return on equity of 1.74%. The firm had revenue of $168.65 million during the quarter, compared to analyst estimates of $163.19 million. During the same period last year, the firm posted $0.22 earnings per share. Spirit Realty Capital’s revenue for the quarter was down 1.8% compared to the same quarter last year. Analysts predict that Spirit Realty Capital will post $0.21 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 8.40%. The ex-dividend date was Thursday, September 28th. Spirit Realty Capital’s dividend payout ratio (DPR) is presently 514.29%.
Spirit Realty Capital declared that its board has approved a stock repurchase program on Monday, August 14th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the real estate investment trust to repurchase up to 6.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
SRC has been the subject of a number of research reports. Zacks Investment Research raised shares of Spirit Realty Capital from a “hold” rating to a “buy” rating and set a $9.50 price target for the company in a research note on Thursday. Bank of America Corporation raised shares of Spirit Realty Capital from an “underperform” rating to a “buy” rating and upped their price objective for the company from $6.50 to $9.75 in a research note on Wednesday, August 16th. Mizuho raised shares of Spirit Realty Capital from an “underperform” rating to a “neutral” rating and set a $7.50 price objective for the company in a research note on Monday, July 10th. Ladenburg Thalmann Financial Services reaffirmed a “hold” rating on shares of Spirit Realty Capital in a research note on Friday, August 4th. Finally, BidaskClub raised shares of Spirit Realty Capital from a “sell” rating to a “hold” rating in a research note on Friday, July 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $9.88.
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In other news, Director Todd A. Dunn acquired 14,000 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was bought at an average cost of $8.49 per share, with a total value of $118,860.00. Following the completion of the purchase, the director now directly owns 64,560 shares of the company’s stock, valued at $548,114.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Phillip D. Joseph, Jr. acquired 3,636 shares of the company’s stock in a transaction on Monday, August 7th. The shares were purchased at an average cost of $8.25 per share, with a total value of $29,997.00. Following the completion of the purchase, the chief financial officer now directly owns 138,504 shares of the company’s stock, valued at $1,142,658. The disclosure for this purchase can be found here. Insiders have acquired 24,697 shares of company stock valued at $207,130 over the last ninety days. 0.50% of the stock is owned by insiders.
About Spirit Realty Capital
Spirit Realty Capital, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company’s operations are carried out through Spirit Realty, L.P. (the Operating Partnership). The Company invests in single-tenant, operationally essential real estate throughout the United States that is leased on a long-term, triple-net basis primarily to tenants engaged in retail, service and distribution industries.
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