Mirae Asset Global Investments Co. Ltd. acquired a new stake in Spirit Realty Capital, Inc. (NYSE:SRC – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 232,733 shares of the real estate investment trust’s stock, valued at approximately $9,272,000. Mirae Asset Global Investments Co. Ltd. owned 0.16% of Spirit Realty Capital as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in SRC. Norges Bank acquired a new stake in Spirit Realty Capital in the fourth quarter valued at approximately $56,606,000. State Street Corp boosted its position in shares of Spirit Realty Capital by 18.9% during the first quarter. State Street Corp now owns 7,032,313 shares of the real estate investment trust’s stock valued at $327,982,000 after buying an additional 1,119,230 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Spirit Realty Capital during the first quarter valued at approximately $39,698,000. Long Pond Capital LP boosted its position in shares of Spirit Realty Capital by 55.6% during the fourth quarter. Long Pond Capital LP now owns 2,311,427 shares of the real estate investment trust’s stock valued at $92,295,000 after buying an additional 825,477 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Spirit Realty Capital by 3.3% during the first quarter. Vanguard Group Inc. now owns 18,866,824 shares of the real estate investment trust’s stock valued at $868,251,000 after buying an additional 595,068 shares during the last quarter. Institutional investors and hedge funds own 95.68% of the company’s stock.
Analyst Ratings Changes
SRC has been the topic of several analyst reports. Stifel Nicolaus cut their target price on Spirit Realty Capital from $48.00 to $45.50 in a research report on Thursday, May 4th. StockNews.com initiated coverage on Spirit Realty Capital in a research report on Thursday, May 18th. They set a “hold” rating on the stock. BNP Paribas initiated coverage on Spirit Realty Capital in a research report on Wednesday, June 14th. They set an “underperform” rating and a $42.00 target price on the stock. Finally, Truist Financial cut their target price on Spirit Realty Capital from $50.00 to $46.00 in a research report on Thursday, June 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $43.06.
Spirit Realty Capital Stock Performance
Shares of Spirit Realty Capital stock opened at $39.82 on Tuesday. The business’s fifty day simple moving average is $39.92 and its 200 day simple moving average is $40.08. The firm has a market capitalization of $5.63 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 6.02 and a beta of 1.24. Spirit Realty Capital, Inc. has a 12 month low of $34.31 and a 12 month high of $44.93. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.82.
Insider Buying and Selling
In other Spirit Realty Capital news, Director Michelle M. Frymire sold 4,000 shares of the business’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $39.75, for a total value of $159,000.00. Following the sale, the director now directly owns 10,009 shares in the company, valued at $397,857.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.54% of the stock is currently owned by corporate insiders.
Spirit Realty Capital Profile
Spirit Realty Capital, Inc (NYSE: SRC) is a premier net-lease REIT that primarily invests in single-tenant, operationally essential real estate assets, subject to long-term leases. As of March 31, 2023, our diverse portfolio consisted of 2,083 retail, industrial and other properties across 49 states, which were leased to 347 tenants operating in 37 industries.
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