Spirit Realty Capital, Inc. (NYSE:SRC) Stock Position Raised by Bank of New York Mellon Corp

Posted by Defense World Staff on Mar 10th, 2023

Bank of New York Mellon Corp lifted its stake in shares of Spirit Realty Capital, Inc. (NYSE:SRC – Get Rating) by 0.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,661,009 shares of the real estate investment trust’s stock after acquiring an additional 13,482 shares during the quarter. Bank of New York Mellon Corp owned 1.19% of Spirit Realty Capital worth $60,063,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SRC. Financial Gravity Asset Management Inc. acquired a new stake in shares of Spirit Realty Capital in the third quarter worth $2,198,000. CoreCap Advisors LLC acquired a new stake in shares of Spirit Realty Capital in the second quarter worth $28,000. First Personal Financial Services acquired a new stake in shares of Spirit Realty Capital in the third quarter worth $37,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Spirit Realty Capital in the third quarter worth $43,000. Finally, Covestor Ltd boosted its position in shares of Spirit Realty Capital by 255.6% in the first quarter. Covestor Ltd now owns 1,330 shares of the real estate investment trust’s stock worth $61,000 after buying an additional 956 shares during the period. 93.01% of the stock is owned by institutional investors.

Spirit Realty Capital Price Performance

NYSE SRC opened at $41.06 on Friday. Spirit Realty Capital, Inc. has a fifty-two week low of $34.31 and a fifty-two week high of $48.24. The stock’s 50-day moving average is $42.24 and its two-hundred day moving average is $40.49. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.15 and a quick ratio of 0.15. The firm has a market cap of $5.80 billion, a P/E ratio of 20.13, a price-to-earnings-growth ratio of 6.24 and a beta of 1.27.

Spirit Realty Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Friday, March 31st will be issued a dividend of $0.663 per share. The ex-dividend date is Thursday, March 30th. This represents a $2.65 annualized dividend and a yield of 6.46%. Spirit Realty Capital’s dividend payout ratio (DPR) is currently 129.90%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Truist Financial decreased their target price on Spirit Realty Capital from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, December 2nd. Mizuho raised their target price on Spirit Realty Capital from $37.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, December 8th. Raymond James lowered Spirit Realty Capital from an “outperform” rating to a “market perform” rating in a report on Monday, January 9th. Oppenheimer reiterated a “market perform” rating and set a $38.00 price objective on shares of Spirit Realty Capital in a report on Tuesday. Finally, Bank of America lowered Spirit Realty Capital from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $42.00 to $43.00 in a report on Monday, November 14th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $43.89.

Spirit Realty Capital Company Profile

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Spirit Realty Capital, Inc operates as a holding company, which engages in investments in real estate. Its in-house capabilities include acquisition, portfolio management, asset management, credit research, real estate research, legal, finance, accounting, and capital markets. The company was founded on August 14, 2003, and is headquartered in Dallas, TX.