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Equities research badysts expect Spirit Realty Capital Inc (NYSE:SRC) to announce $101.13 million in sales for the current quarter, Zacks Investment Research reports. Five badysts have made estimates for Spirit Realty Capital’s earnings. The lowest sales estimate is $97.52 million and the highest is $109.02 million. Spirit Realty Capital reported sales of $164.49 million in the same quarter last year, which would suggest a negative year over year growth rate of 38.5%. The firm is scheduled to issue its next quarterly earnings results on Thursday, November 1st.
According to Zacks, badysts expect that Spirit Realty Capital will report full year sales of $454.79 million for the current fiscal year, with estimates ranging from $401.70 million to $490.85 million. For the next financial year, badysts anticipate that the business will post sales of $426.21 million, with estimates ranging from $398.13 million to $461.29 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research badysts that that provide coverage for Spirit Realty Capital.
Spirit Realty Capital (NYSE:SRC) last released its quarterly earnings results on Tuesday, August 7th. The real estate investment trust reported $0.05 earnings per share for the quarter, missing badysts’ consensus estimates of $0.16 by ($0.11). Spirit Realty Capital had a net margin of 14.77% and a return on equity of 3.42%. The business had revenue of $98.24 million during the quarter, compared to badyst estimates of $104.88 million.
A number of equities research badysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Spirit Realty Capital from a “hold” rating to a “sell” rating in a research report on Friday. TheStreet upgraded shares of Spirit Realty Capital from a “c” rating to a “b-” rating in a research report on Wednesday, August 8th. ValuEngine upgraded shares of Spirit Realty Capital from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. BTIG Research downgraded shares of Spirit Realty Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, June 21st. Finally, Bank of America lifted their price target on shares of Spirit Realty Capital from $8.00 to $8.25 and gave the company a “neutral” rating in a research report on Monday, September 10th. Two equities research badysts have rated the stock with a sell rating, seven have badigned a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $9.00.
Shares of NYSE SRC traded down $0.06 during midday trading on Friday, reaching $7.47. The company’s stock had a trading volume of 4,814,100 shares, compared to its average volume of 5,588,963. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.69. Spirit Realty Capital has a fifty-two week low of $7.34 and a fifty-two week high of $8.84. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 8.92 and a beta of 0.42.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be given a dividend of $0.125 per share. The ex-dividend date is Thursday, September 27th. This represents a $0.50 annualized dividend and a yield of 6.69%. Spirit Realty Capital’s dividend payout ratio is currently 58.82%.
Institutional investors and hedge funds have recently made changes to their positions in the business. Clear Harbor Asset Management LLC acquired a new position in Spirit Realty Capital during the second quarter valued at approximately $108,000. Virtu Financial LLC acquired a new position in Spirit Realty Capital during the second quarter valued at approximately $113,000. Trust Co. of Oklahoma bought a new stake in shares of Spirit Realty Capital during the second quarter worth $117,000. Rehmann Capital Advisory Group grew its stake in shares of Spirit Realty Capital by 324.1% during the second quarter. Rehmann Capital Advisory Group now owns 15,387 shares of the real estate investment trust’s stock worth $124,000 after buying an additional 11,759 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH bought a new stake in shares of Spirit Realty Capital during the second quarter worth $147,000. Institutional investors and hedge funds own 91.24% of the company’s stock.
About Spirit Realty Capital
Spirit Realty Capital, Inc (NYSE: SRC) is a premier net-lease REIT that primarily invests in high-quality, operationally essential real estate, subject to long-term, net leases. Over the past decade, Spirit has become an industry leader and owner of income-producing, strategically located retail, industrial, office and data center properties providing superior risk adjusted returns and steady dividend growth for our stockholders.
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