Swiss National Bank Has $12.01 Million Stake in Spirit Realty Capital, Inc. (NYSE:SRC)

Posted by Defense World Staff on Aug 25th, 2023

Swiss National Bank trimmed its holdings in shares of Spirit Realty Capital, Inc. (NYSE:SRC – Free Report) by 8.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 301,454 shares of the real estate investment trust’s stock after selling 27,700 shares during the period. Swiss National Bank owned 0.21% of Spirit Realty Capital worth $12,010,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of SRC. Norges Bank acquired a new position in shares of Spirit Realty Capital in the fourth quarter valued at approximately $56,606,000. State Street Corp boosted its holdings in 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 worth $327,982,000 after purchasing an additional 1,119,230 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Spirit Realty Capital in the first quarter valued at $39,698,000. Long Pond Capital LP lifted its stake in Spirit Realty Capital by 55.6% in 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 acquiring an additional 825,477 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Spirit Realty Capital by 145.5% in the first quarter. Russell Investments Group Ltd. now owns 1,256,877 shares of the real estate investment trust’s stock valued at $49,915,000 after acquiring an additional 744,879 shares during the last quarter. Institutional investors own 95.68% of the company’s stock.

Spirit Realty Capital Stock Down 0.8 %

Spirit Realty Capital stock opened at $38.41 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.07 and a current ratio of 1.05. Spirit Realty Capital, Inc. has a 52-week low of $34.31 and a 52-week high of $44.65. The firm has a 50 day moving average price of $39.71 and a two-hundred day moving average price of $39.76. The firm has a market cap of $5.43 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 0.69 and a beta of 1.24.

Spirit Realty Capital (NYSE:SRC – Get Free Report) last released its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.50). Spirit Realty Capital had a return on equity of 6.69% and a net margin of 39.59%. The firm had revenue of $1.00 million for the quarter, compared to the consensus estimate of $187.23 million. During the same quarter in the previous year, the business posted $0.90 EPS. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. Equities analysts predict that Spirit Realty Capital, Inc. will post 3.45 EPS for the current year.

Spirit Realty Capital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a dividend of $0.6696 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.97%. The ex-dividend date of this dividend is Thursday, September 28th. This is an increase from Spirit Realty Capital’s previous quarterly dividend of $0.66. Spirit Realty Capital’s payout ratio is presently 129.90%.

Insider Activity at Spirit Realty Capital

In related news, Director Michelle M. Frymire sold 4,000 shares of the business’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $39.75, for a total transaction of $159,000.00. Following the transaction, the director now owns 10,009 shares in the company, valued at approximately $397,857.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.58% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SRC has been the subject of a number of recent analyst reports. Truist Financial cut their price target on shares of Spirit Realty Capital from $50.00 to $46.00 in a research note on Thursday, June 15th. Mizuho raised their price target on shares of Spirit Realty Capital from $40.00 to $41.00 in a research report on Thursday, August 10th. Stifel Nicolaus raised their target price on shares of Spirit Realty Capital from $45.50 to $46.00 and gave the company a “buy” rating in a report on Tuesday, August 8th. StockNews.com initiated coverage on shares of Spirit Realty Capital in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, BNP Paribas initiated coverage on shares of 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Spirit Realty Capital has a consensus rating of “Hold” and an average target price of $43.00.

Get Our Latest Stock Analysis on Spirit Realty Capital

Spirit Realty Capital Company Profile

(Free Report)

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 June 30, 2023, our diverse portfolio consisted of 2,064 retail, industrial and other properties across 49 states, which were leased to 345 tenants operating in 37 industries.