Spirit Realty Capital Inc. (NYSE: SRC) shares rose in value Tuesday Nov 22 with slower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, The Dow Jones Industrial Average opened opened higher, trading above 19,000 for the first time ever, while the S&P 500 traded above 2,200 shortly after the opening bell on Tuesday.
The S&P 500 SPX, +0.17% opened 5 points, or 0.2%, higher at 2,202. The Dow Jones Industrial Average DJIA, +0.20% added 45 points, or 0.2%, to 19,002. The Nasdaq Composite COMP, +0.25% began the session up 16 points, or 0.3%, at 5,385.
Analysts at Zacks Investment Research upgraded shares of Spirit Realty Capital Inc. (NYSE: SRC) from Sell to Hold today. The company currently has a rating of Hold on the stock. A number of other analysts have issued reports on the stock recently, and the company has secured a consensus one-year price target of $13.83, higher than the opening price of $10.67. Spirit Realty Capital Inc. stock has a 52-week high of $13.97. Stock prices often trend to the upside on recommendations and new price targets of professional analysts.
Shares of Spirit Realty Capital Inc. (NYSE: SRC) opened at $10.67 on Tuesday and has traded in a range between, $10.63 and $10.69, and last traded at $10.65, a jump of $0.02 or 0.19% from the previous closing price.
Spirit Realty Capital Inc. (NYSE: SRC) now has a market cap of 5.15B.
Spirit Realty Capital Inc. (NYSE: SRC) Average Daily Trading Volume
89,341 shares crossed the trading desk yesterday, below the norm, out of a total float 480,935,000. Look for trading volume to pick up in the coming days as investors often use increases in trading volume to identify substantial volume accumulation or circulation by institutional investors.
As with all potential breakouts, investors watch for volume to be at least 40%-50% greater than normal on the breakout to demonstrate that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by 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 it is good confirmation to see them buying a stock you are considering.
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 spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.
Trades for Spirit Realty Capital Inc. (NYSE: SRC) have ranged from $8.90 – 13.97, and the stock now has a 50-day MA of $11.80 and 200-day MA of $12.48. Today’s last price is 23.77%% under the 52 week high of $13.97.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors identify companies that have raised their earnings by at least 25% over a 3 year period.
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