If the market is performing well and the stock is over-valued, SRC might be a good investment at this point but if the market is dropping down, you might not consider buying the stock.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SRC.
Honeywell International Inc. acquired a new stake in shares of Spirit Realty Capital, Inc. Prudential Financial Inc. now owns 7,934,149 shares of the real estate investment trust's stock worth $80,373,000 after buying an additional 7,735,135 shares during the last quarter.
At the end of Mar reporting period, 166 institutional holders increased their position in Spirit Realty Capital, Inc. As of quarter end Tiaa Cref Investment Management LLC had bought a total of 436,429 shares growing its position 19.0%. Spirit Realty Capital, Inc (New) (NYSE:SRC) has declined 36.20% since August 10, 2016 and is downtrending. Investment Centers of America Inc. now owns 13,850 shares of the real estate investment trust's stock valued at $141,000 after buying an additional 350 shares in the last quarter. Florida-based Raymond James & Associates has invested 0% in Spirit Realty Capital, Inc (New) (NYSE:SRC). Similar statistics are true for the second largest owner, Cohen & Steers Inc, which owns 53,658,817 shares of the stock are valued at $452.34 million. (SRC) pulled off a 1.57 percent gain and now trades for $8.43. The company has market cap of $3.16 billion.
It is now trading at $8.38 significantly above $7.78, the stock's 50 day moving average and which is significantly below the 200 day moving average of $9.01.
EVP, CFO and Treasuer, JOSEPH PHILLIP D JR, purchased 6,700 common shares of Spirit Realty Capital, Inc.
Spirit Realty Capital, Inc.is a publicly traded real estate investment trust.
Analyst Thoughts About Spirit Realty Capital, Inc.
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Spirit Realty Capital Inc (NYSE:SRC) has average revenue estimates of $159.75 Million, compared to low analyst estimates of $150.81 Million and high estimates of $165.23 Million for the current quarter. During the same quarter in the prior year, the firm earned $0.22 EPS. The Echo Street Capital Management Llc holds 5.55 million shares with $60.31 million value, up from 3.40M last quarter.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Art Advsrs Ltd Limited Liability Company invested in 0.09% or 134,900 shares. After a recent spot-check, the stock has touched $8.23 which represents a change from the open of -1.14%. The ex-dividend date was Wednesday the 28th of June 2017. Spirit Realty Capital's payout ratio is now 514.29%.
TRADEMARK VIOLATION NOTICE: This report was reported by The Cerbat Gem and is owned by of The Cerbat Gem.
WARNING: This piece was posted by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this piece of content on another publication, it was illegally copied and reposted in violation of USA and worldwide copyright & trademark laws. Sandler O'Neill upgraded the shares of SRC in report on Friday, May 5 to "Buy" rating. UBS AG cut Spirit Realty Capital from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $12.00 to $9.00 in a research note on Thursday, May 4th. BidaskClub upgraded shares of Spirit Realty Capital from a "hold" rating to a "buy" rating in a research report on Monday, July 31st.
Spirit of America Management Corp NY cut its position in Spirit Realty Capital, Inc. The firm has a 50-day moving average of $7.78 and a 200-day moving average of $9.01. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. More interesting news about Spirit Realty Capital, Inc (New) (NYSE:SRC) were released by: Fool.com and their article: "Why Spirit Realty Capital, Inc". Shares for $71,900 were bought by Messmann Boyd on Wednesday, May 24. The shares were bought on June 2nd for an average price of $7.47. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The stock tapped a 52-week high of US$83.44 while the mean 12-month price target for the shares is US$45.4. The stock was purchased at an average cost of $7.27 per share, with a total value of $99,599.00. In the last ninety days, insiders have purchased 67,497 shares of company stock worth $520,238. Insiders have purchased 43,800 shares of company stock valued at $321,378 in the last three months. (SRC) is 0.05 while the analysts predicted the EPS of the stock to be 0.07 suggesting the company fell short of the analysts' expectations.
Spirit Realty Capital, Inc is a self-administered and self-managed real estate investment trust (REIT). Its operations are carried out through the Spirit Realty, L.P.
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