B. Riley Reiterates $9.00 Price Target for Spirit Realty Capital, Inc. (SRC)

B. Riley set a $9.00 price objective on Spirit Realty Capital, Inc. (NYSE:SRC) in a research report sent to investors on Tuesday morning. The brokerage currently has a buy rating on the real estate investment trust’s stock.

A number of other research analysts have also recently commented on the stock. Ladenburg Thalmann Financial Services reissued a hold rating on shares of Spirit Realty Capital in a research report on Monday. Robert W. Baird lowered shares of Spirit Realty Capital from an outperform rating to a neutral rating and dropped their price target for the stock from $10.00 to $9.00 in a research note on Friday, November 10th. SunTrust Banks, Inc. restated a hold rating and issued a $8.50 price target on shares of Spirit Realty Capital in a research note on Friday, November 3rd. Mizuho set a $9.00 price target on shares of Spirit Realty Capital and gave the stock a buy rating in a research note on Sunday, October 22nd. Finally, Deutsche Bank AG restated a buy rating and issued a $11.00 price target on shares of Spirit Realty Capital in a research note on Friday, October 20th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $9.47.

Spirit Realty Capital (SRC) traded up $0.05 during midday trading on Tuesday, hitting $8.58. 5,338,567 shares of the stock were exchanged, compared to its average volume of 10,412,377. Spirit Realty Capital has a twelve month low of $6.64 and a twelve month high of $11.29. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $3,860.00, a PE ratio of 10.09 and a beta of 0.16.

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Spirit Realty Capital announced that its board has authorized a stock repurchase plan on Monday, August 14th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the real estate investment trust to reacquire up to 6.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Hedge funds have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board increased its stake in Spirit Realty Capital by 104.6% during the second quarter. Canada Pension Plan Investment Board now owns 165,900 shares of the real estate investment trust’s stock valued at $1,229,000 after purchasing an additional 84,800 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Spirit Realty Capital by 49.8% during the second quarter. State Board of Administration of Florida Retirement System now owns 591,951 shares of the real estate investment trust’s stock worth $4,386,000 after acquiring an additional 196,710 shares during the last quarter. Lasalle Investment Management Securities LLC grew its position in shares of Spirit Realty Capital by 52.2% during the second quarter. Lasalle Investment Management Securities LLC now owns 22,481,416 shares of the real estate investment trust’s stock worth $166,587,000 after acquiring an additional 7,707,615 shares during the last quarter. Goodwin Daniel L grew its position in shares of Spirit Realty Capital by 285.7% during the second quarter. Goodwin Daniel L now owns 67,503 shares of the real estate investment trust’s stock worth $500,000 after acquiring an additional 50,000 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of Spirit Realty Capital by 9.3% during the second quarter. Legal & General Group Plc now owns 1,386,221 shares of the real estate investment trust’s stock worth $10,272,000 after acquiring an additional 118,073 shares during the last quarter. Hedge funds and other institutional investors own 92.86% of the company’s stock.

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.

Analyst Recommendations for Spirit Realty Capital (NYSE:SRC)

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