According to Bloomberg Ratings, Spirit Realty Capital, Inc. (NYSE:SRC) has received a “Hold” recommendation from the ten analysts currently covering the firm. Out of these analysts, two have given a sell rating, four have provided a hold rating, and four have issued a buy rating for the company. The average one-year price objective among these analysts is $42.30.
Hedge funds have been actively managing their stakes in SRC recently. Money Concepts Capital Corp and CoreCap Advisors LLC both acquired new positions in Spirit Realty Capital during the fourth quarter of 2023, with values of approximately $25,000 and $29,000 respectively. Householder Group Estate & Retirement Specialist LLC significantly increased its holdings in the first quarter by 938.4%, now owning 758 shares worth $30,000 after purchasing an additional 685 shares during the period. Northwestern Mutual Wealth Management Co. also entered the scene during the fourth quarter, purchasing shares worth $42,000. Covestor Ltd lifted its stake in Spirit Realty Capital by 255.6% in the first quarter as well, now owning 1,330 shares valued at $61,000 after acquiring an additional 956 shares over that time frame. Institutional investors currently hold approximately 96.09% of SRC’s stock.
In addition to recent developments with institutional stakeholders, Spirit Realty Capital has declared an increase in its quarterly dividend payout. Shareholders of record on Friday, September 29th will receive a dividend payment of $0.6696 on Friday, October 13thup from the previous quarterly dividend of $0.66 per share. This translates to an annualized dividend of $2.68 and an impressive dividend yield of 7.60%. The ex-dividend date is set for Thursday, September 28th. It’s worth noting that Spirit Realty Capital’s dividend payout ratio (DPR) stands at 130.88%.
Overall, Spirit Realty Capital’s current status in the real estate investment trust market has garnered a “Hold” rating from analysts. However, it is important for investors to carefully consider these ratings in conjunction with other relevant factors, such as the company’s financial performance and market conditions.
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Analyzing the Performance and Outlook of Spirit Realty Capital (NYSE:SRC)
Spirit Realty Capital (NYSE:SRC) has recently been the subject of discussion among several analysts. Stifel Nicolaus, for instance, recently raised its price target on the company from $45.50 to $46.00 and assigned it a “buy” rating in a research note published on August 8th. Similarly, Mizuho increased its target price on Spirit Realty Capital shares from $40.00 to $41.00 in a research note released on August 10th.
Meanwhile, StockNews.com initiated coverage on Spirit Realty Capital and gave it a “hold” rating in a research report dated August 17th. JPMorgan Chase & Co., however, lowered its price target on the company’s shares from $47.00 to $44.00 but maintained an “overweight” rating in their research report.
Adding another voice to the mix, Truist Financial also reduced its target price for Spirit Realty Capital shares from $46.00 to $45.00 in a research note released on August 30th.
As of Friday, September 22nd, shares of SRC stock opened at $35.23. The company’s fifty-day moving average stands at $38.87 while its 200-day moving average hovers around $38.95.
Spirit Realty Capital presently boasts a market capitalization of approximately $4.98 billion and exhibits a price-to-earnings ratio of 17.27 along with a P/E/G ratio of 0.65an indication that the stock may be undervalued relative to its growth prospects.
Moreover, the company possesses a beta of 1.25, suggesting that it is more sensitive to market movements compared to other stocks considered as benchmarks.
In terms of performance over the past year, Spirit Realty Capital shows a range between its lowest point at $34.31 and its highest point at $44.65a clear demonstration of the volatility in its share price.
Examining its financial position, Spirit Realty Capital currently has a debt-to-equity ratio of 0.87, indicating that it relies moderately on financing through borrowing. With a quick ratio and current ratio both at 1.05, the company showcases satisfactory liquidity levels.
Turning to the recent earnings report, Spirit Realty Capital published its quarterly figures on August 7th. The real estate investment trust posted earnings per share (EPS) of $0.36 for the quarter, falling short of analysts’ consensus estimates by $0.50.
In terms of revenue, Spirit Realty Capital recorded $1.00 million during the quartera substantial deviation from the consensus estimate of $187.23 million.
Looking more closely at profitability measures, Spirit Realty Capital boasts a net margin of 39.59% along with a return on equity of 6.69%. Although these figures indicate relative strength, they should still be interpreted within the context of industry benchmarks and competitive peers.
Furthermore, when compared to the same quarter last year, Spirit Realty Capital’s revenue remained relatively stableexperiencing no significant changes. However, it is important to note that in the corresponding period in the prior year, the company had reported EPS of $0.90.
As we move forward into the rest of this fiscal year, equities research analysts expect Spirit Realty Capital to post earnings per share of 3.45an average projection based on their assessments and forecasts.
Given all this information and analysis surrounding Spirit Realty Capital (NYSE:SRC), investors should exercise caution and thoroughly evaluate their investment decisions based on their individual risk tolerance and long-term outlooks.
Please note that this article provides an overview and does not constitute financial advice or specific recommendations regarding purchases or sales of securities. Investors are advised to conduct thorough research and consult with certified financial professionals before making any investment decisions.