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 September 30, 2020, our diverse portfolio of 1,778 owned properties, with an aggregate leasable area of 37.2 million square feet in 48 states, included retail, industrial and office buildings leased to 296 tenants across 28 retail industries.
Wall Street Analyst Weigh In
Several analysts have issued reports on SRC shares. Jefferies Financial Group decreased their price target on shares of Spirit Realty Capital from $44.00 to $40.00 and set a "hold" rating on the stock in a research report on Thursday, June 30th. UBS Group cut their price target on Spirit Realty Capital from $50.00 to $45.00 and set a "neutral" rating for the company in a report on Monday, July 25th. Raymond James decreased their price objective on Spirit Realty Capital from $48.00 to $46.00 and set an "outperform" rating on the stock in a report on Friday, July 8th. Morgan Stanley reduced their target price on Spirit Realty Capital from $50.00 to $40.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 12th. Finally, Truist Financial lowered their price target on shares of Spirit Realty Capital from $56.00 to $52.00 and set a "buy" rating on the stock in a report on Wednesday, June 1st. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $48.90.
Spirit Realty Capital Price Performance
Shares of NYSE:SRC traded down $0.26 during trading on Friday, reaching $42.86. The stock had a trading volume of 1,659 shares, compared to its average volume of 685,148. The stock has a market capitalization of $5.84 billion, a PE ratio of 25.67, a P/E/G ratio of 4.90 and a beta of 1.25. Spirit Realty Capital has a 52 week low of $35.79 and a 52 week high of $52.29. The business's 50-day moving average price is $40.81 and its 200 day moving average price is $43.33. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.15 and a quick ratio of 0.15.
Spirit Realty Capital (NYSE:SRC - Get Rating) last announced its earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.60 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.25). Spirit Realty Capital had a return on equity of 5.52% and a net margin of 33.97%. The business had revenue of $173.56 million for the quarter, compared to the consensus estimate of $172.40 million. As a group, equities analysts predict that Spirit Realty Capital will post 3.43 earnings per share for the current year.
Spirit Realty Capital Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.663 per share. This is a boost from Spirit Realty Capital's previous quarterly dividend of $0.64. This represents a $2.65 annualized dividend and a dividend yield of 6.19%. The ex-dividend date of this dividend is Thursday, September 29th. Spirit Realty Capital's dividend payout ratio is 151.79%.