Pensionfund DSM Netherlands grew its position in Spirit Realty Capital, Inc. (NYSE:SRC – Get Rating) by 3.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,600 shares of the real estate investment trust’s stock after purchasing an additional 2,500 shares during the quarter. Spirit Realty Capital comprises approximately 1.8% of Pensionfund DSM Netherlands’ investment portfolio, making the stock its 20th biggest position. Pensionfund DSM Netherlands’ holdings in Spirit Realty Capital were worth $2,693,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Spirit Realty Capital in the 4th quarter valued at $56,606,000. State Street Corp grew its stake in shares of Spirit Realty Capital by 18.9% in the first quarter. State Street Corp now owns 7,032,313 shares of the real estate investment trust’s stock valued at $327,982,000 after acquiring an additional 1,119,230 shares in the last quarter. Waterfront Capital Partners LLC bought a new position in Spirit Realty Capital during the third quarter worth about $32,515,000. Wellington Management Group LLP acquired a new stake in Spirit Realty Capital in the 1st quarter worth about $39,698,000. Finally, Long Pond Capital LP boosted its holdings in Spirit Realty Capital by 55.6% in the 4th 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 purchasing an additional 825,477 shares during the period. Institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. JMP Securities lowered their target price on shares of Spirit Realty Capital from $49.00 to $45.00 and set a “market outperform” rating on the stock in a report on Tuesday, March 21st. Stifel Nicolaus dropped their price objective on Spirit Realty Capital from $48.00 to $45.50 in a report on Thursday, May 4th. Truist Financial reduced their target price on Spirit Realty Capital from $50.00 to $46.00 in a report on Thursday. BNP Paribas began coverage on shares of Spirit Realty Capital in a research report on Wednesday. They set an “underperform” rating and a $42.00 price objective for the company. Finally, StockNews.com assumed coverage on shares of Spirit Realty Capital in a report on Thursday, May 18th. They issued a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $42.68.

Insider Activity at Spirit Realty Capital

In other Spirit Realty Capital news, Director Michelle M. Frymire sold 4,000 shares of the company’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $39.75, for a total value of $159,000.00. Following the sale, 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 is available at this link. 0.58% of the stock is currently owned by company insiders.

Spirit Realty Capital Price Performance

Spirit Realty Capital stock opened at $40.02 on Friday. The stock has a 50-day moving average price of $38.64 and a two-hundred day moving average price of $40.30. Spirit Realty Capital, Inc. has a 12 month low of $34.31 and a 12 month high of $44.93. The company has a market capitalization of $5.65 billion, a PE ratio of 17.55, a P/E/G ratio of 6.08 and a beta of 1.26. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.82.

Spirit Realty Capital (NYSE:SRC – Get Rating) last issued its quarterly earnings data on Wednesday, May 3rd. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.21). Spirit Realty Capital had a net margin of 44.28% and a return on equity of 7.42%. The business had revenue of $188.29 million during the quarter, compared to the consensus estimate of $185.60 million. Analysts expect that Spirit Realty Capital, Inc. will post 3.43 EPS for the current year.

Spirit Realty Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be issued a $0.663 dividend. The ex-dividend date is Thursday, June 29th. This represents a $2.65 dividend on an annualized basis and a yield of 6.63%. Spirit Realty Capital’s payout ratio is 116.23%.

Spirit Realty Capital Company Profile

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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 March 31, 2023, our diverse portfolio consisted of 2,083 retail, industrial and other properties across 49 states, which were leased to 347 tenants operating in 37 industries.

See Also

Want to see what other hedge funds are holding SRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spirit Realty Capital, Inc. (NYSE:SRC – Get Rating).

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