BlackRock Institutional Trust Company N.A. increased its stake in shares of Spirit Realty Capital Inc. (NYSE:SRC) by 1.2% during the third quarter, according to its most recent filing with the SEC. The fund owned 15,697,991 shares of the real estate investment trust’s stock after buying an additional 178,981 shares during the period. BlackRock Institutional Trust Company N.A.’s holdings in Spirit Realty Capital were worth $209,254,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of SRC. Vanguard Group Inc. boosted its position in shares of Spirit Realty Capital by 13.2% in the second quarter. Vanguard Group Inc. now owns 73,416,649 shares of the real estate investment trust’s stock valued at $937,531,000 after buying an additional 8,571,889 shares during the period. Brookfield Asset Management Inc. boosted its stake in Spirit Realty Capital by 158.1% in the second quarter. Brookfield Asset Management Inc. now owns 7,731,905 shares of the real estate investment trust’s stock worth $98,736,000 after buying an additional 4,736,348 shares during the last quarter. Cbre Clarion Securities LLC boosted its stake in Spirit Realty Capital by 15.5% in the second quarter. Cbre Clarion Securities LLC now owns 34,477,440 shares of the real estate investment trust’s stock worth $440,277,000 after buying an additional 4,614,756 shares during the last quarter. Cohen & Steers Inc. boosted its stake in Spirit Realty Capital by 5.9% in the second quarter. Cohen & Steers Inc. now owns 55,493,317 shares of the real estate investment trust’s stock worth $708,650,000 after buying an additional 3,114,272 shares during the last quarter. Finally, Presima Inc. boosted its stake in Spirit Realty Capital by 5,416.6% in the third quarter. Presima Inc. now owns 2,830,000 shares of the real estate investment trust’s stock worth $37,724,000 after buying an additional 2,778,700 shares during the last quarter. Institutional investors and hedge funds own 96.65% of the company’s stock.
Shares of Spirit Realty Capital Inc. (NYSE:SRC) opened at 10.43 on Wednesday. The company has a 50-day moving average price of $10.71 and a 200 day moving average price of $12.32. The stock has a market capitalization of $5.04 billion, a PE ratio of 46.77 and a beta of 0.53. Spirit Realty Capital Inc. has a 52 week low of $8.90 and a 52 week high of $13.97.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Friday, December 30th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 6.79%. The ex-dividend date of this dividend is Wednesday, December 28th. This is a boost from Spirit Realty Capital’s previous quarterly dividend of $0.18. Spirit Realty Capital’s dividend payout ratio (DPR) is currently 280.00%.
A number of research firms have recently commented on SRC. Mizuho cut Spirit Realty Capital from a “buy” rating to a “neutral” rating and set a $10.50 target price on the stock. in a research note on Friday, December 16th. Morgan Stanley raised Spirit Realty Capital from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $11.00 to $15.00 in a report on Wednesday, September 7th. Zacks Investment Research raised Spirit Realty Capital from a “sell” rating to a “hold” rating in a report on Tuesday, November 22nd. Janney Montgomery Scott assumed coverage on Spirit Realty Capital in a report on Wednesday, September 7th. They issued a “buy” rating and a $14.50 price objective for the company. They noted that the move was a valuation call. Finally, Robert W. Baird raised Spirit Realty Capital from a “neutral” rating to an “outperform” rating and set a $13.00 target price for the company in a report on Monday, November 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $13.67.
In other news, CEO Thomas H. Nolan, Jr. sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $10.44, for a total value of $156,600.00. Following the completion of the sale, the chief executive officer now directly owns 843,186 shares of the company’s stock, valued at approximately $8,802,861.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Phillip D. Joseph, Jr. acquired 2,516 shares of the stock in a transaction dated Thursday, November 10th. The stock was bought at an average cost of $10.75 per share, with a total value of $27,047.00. Following the completion of the purchase, the chief financial officer now directly owns 90,378 shares in the company, valued at $971,563.50. The disclosure for this purchase can be found here. Company insiders own 0.50% of the company’s stock.
About Spirit Realty Capital
Spirit Realty Capital, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company’s operations are carried out through Spirit Realty, L.P. (the Operating Partnership). The Company invests in single-tenant, operationally essential real estate throughout the United States that is leased on a long-term, triple-net basis primarily to tenants engaged in retail, service and distribution industries.
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