Wall Street brokerages expect Spirit Realty Capital (NYSE:SRC) to post earnings per share of $0.20 for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Spirit Realty Capital’s earnings, with the highest EPS estimate coming in at $0.21 and the lowest estimate coming in at $0.20. Spirit Realty Capital reported earnings of $0.21 per share in the same quarter last year, which would indicate a negative year over year growth rate of 4.8%. The firm is expected to report its next quarterly earnings report on Thursday, August 2nd.
According to Zacks, analysts expect that Spirit Realty Capital will report full year earnings of $0.82 per share for the current financial year, with EPS estimates ranging from $0.78 to $0.85. For the next financial year, analysts anticipate that the company will post earnings of $0.83 per share, with EPS estimates ranging from $0.78 to $0.85. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Spirit Realty Capital.
Spirit Realty Capital (NYSE:SRC) last released its quarterly earnings results on Tuesday, May 1st. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.06. Spirit Realty Capital had a return on equity of 3.53% and a net margin of 14.21%. The business had revenue of $165.30 million during the quarter, compared to analysts’ expectations of $165.12 million. During the same period in the previous year, the business posted $0.20 earnings per share. The firm’s revenue for the quarter was down .1% compared to the same quarter last year.
SRC has been the subject of a number of research analyst reports. Bank of America cut Spirit Realty Capital from a “buy” rating to a “neutral” rating and set a $9.00 price target for the company. in a report on Monday, February 26th. Morgan Stanley cut their price target on Spirit Realty Capital from $8.75 to $8.25 and set an “equal weight” rating for the company in a report on Monday, February 5th. Zacks Investment Research raised Spirit Realty Capital from a “strong sell” rating to a “hold” rating in a report on Thursday, January 25th. JPMorgan Chase & Co. cut their price target on Spirit Realty Capital from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Tuesday, April 24th. Finally, B. Riley reaffirmed a “buy” rating on shares of Spirit Realty Capital in a report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $9.08.
Shares of Spirit Realty Capital stock traded down $0.04 during trading on Friday, reaching $8.60. The company’s stock had a trading volume of 156,487 shares, compared to its average volume of 7,891,398. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.25. Spirit Realty Capital has a one year low of $7.16 and a one year high of $8.81. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of 10.16 and a beta of 0.43.
In related news, Director Thomas D. Senkbeil bought 25,200 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The stock was bought at an average cost of $7.93 per share, for a total transaction of $199,836.00. Following the transaction, the director now owns 67,052 shares of the company’s stock, valued at $531,722.36. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard I. Gilchrist bought 7,500 shares of the firm’s stock in a transaction dated Thursday, March 15th. The shares were bought at an average price of $8.00 per share, with a total value of $60,000.00. Following the completion of the transaction, the director now directly owns 67,929 shares in the company, valued at approximately $543,432. The disclosure for this purchase can be found here. Insiders own 0.48% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. grew its position in shares of Spirit Realty Capital by 4.8% during the 1st quarter. Principal Financial Group Inc. now owns 15,292,381 shares of the real estate investment trust’s stock worth $118,670,000 after buying an additional 697,153 shares during the period. Xact Kapitalforvaltning AB grew its position in shares of Spirit Realty Capital by 64.5% during the 1st quarter. Xact Kapitalforvaltning AB now owns 63,779 shares of the real estate investment trust’s stock worth $495,000 after buying an additional 25,000 shares during the period. Legal & General Group Plc grew its position in shares of Spirit Realty Capital by 11.1% during the 1st quarter. Legal & General Group Plc now owns 1,705,357 shares of the real estate investment trust’s stock worth $13,234,000 after buying an additional 170,880 shares during the period. HG Vora Capital Management LLC acquired a new position in shares of Spirit Realty Capital during the 1st quarter worth about $65,960,000. Finally, V3 Capital Management L.P. grew its position in shares of Spirit Realty Capital by 13.7% during the 1st quarter. V3 Capital Management L.P. now owns 10,413,802 shares of the real estate investment trust’s stock worth $80,811,000 after buying an additional 1,253,250 shares during the period. Institutional investors own 93.33% of the company’s stock.
Spirit Realty Capital Company Profile
Spirit Realty Capital, Inc (NYSE:SRC) is a premier net lease real estate investment trust (REIT) that primarily invests in high-quality, operationally essential retail 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 and office properties providing superior risk adjusted returns and steady dividend growth for our shareholders.
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