Phillip D. Joseph, Jr. Acquires 6,700 Shares of Spirit Realty Capital, Inc (SRC) Stock

Spirit Realty Capital, Inc (NYSE:SRC) CFO Phillip D. Joseph, Jr. bought 6,700 shares of Spirit Realty Capital stock in a transaction that occurred on Friday, June 2nd. The stock was bought at an average cost of $7.47 per share, with a total value of $50,049.00. Following the completion of the purchase, the chief financial officer now owns 134,868 shares in the company, valued at approximately $1,007,463.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of Spirit Realty Capital, Inc (NYSE:SRC) traded up 0.14% during midday trading on Tuesday, hitting $7.36. 17,955,147 shares of the stock were exchanged. The firm’s 50 day moving average is $8.27 and its 200-day moving average is $10.01. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of 40.89 and a beta of 0.52. Spirit Realty Capital, Inc has a 1-year low of $6.64 and a 1-year high of $13.97.

Spirit Realty Capital (NYSE:SRC) last released its earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by $0.02. The company had revenue of $163.19 million during the quarter, compared to analysts’ expectations of $169.84 million. Spirit Realty Capital had a net margin of 16.77% and a return on equity of 3.17%. On average, analysts predict that Spirit Realty Capital, Inc will post $0.23 EPS for the current year.

Insider Buying and Selling by Quarter for Spirit Realty Capital (NYSE:SRC)

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A number of equities analysts recently weighed in on SRC shares. JPMorgan Chase & Co. lowered shares of Spirit Realty Capital from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $13.00 to $9.00 in a research note on Thursday, May 4th. Ladenburg Thalmann Financial Services lowered shares of Spirit Realty Capital from a “buy” rating to a “neutral” rating in a research note on Thursday, May 4th. Capital One Financial Corp. lowered shares of Spirit Realty Capital from an “equal weight” rating to an “underweight” rating in a research note on Thursday, May 4th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $10.00 target price (down from $14.00) on shares of Spirit Realty Capital in a research note on Friday, May 5th. Finally, TheStreet lowered shares of Spirit Realty Capital from a “b-” rating to a “c+” rating in a research note on Wednesday, March 15th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. Spirit Realty Capital currently has a consensus rating of “Hold” and an average price target of $12.04.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in Spirit Realty Capital by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,446,274 shares of the real estate investment trust’s stock worth $70,004,000 after buying an additional 158,155 shares during the last quarter. State Street Corp boosted its position in Spirit Realty Capital by 3.0% in the fourth quarter. State Street Corp now owns 9,211,711 shares of the real estate investment trust’s stock worth $100,042,000 after buying an additional 268,974 shares during the last quarter. Comerica Bank boosted its position in Spirit Realty Capital by 87.6% in the fourth quarter. Comerica Bank now owns 38,087 shares of the real estate investment trust’s stock worth $419,000 after buying an additional 17,782 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in Spirit Realty Capital by 8.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 395,241 shares of the real estate investment trust’s stock worth $4,292,000 after buying an additional 29,120 shares during the last quarter. Finally, Cadence Capital Management LLC boosted its position in Spirit Realty Capital by 140.2% in the fourth quarter. Cadence Capital Management LLC now owns 36,946 shares of the real estate investment trust’s stock worth $401,000 after buying an additional 21,567 shares during the last quarter. Hedge funds and other institutional investors own 96.54% of the company’s stock.

Spirit Realty Capital Company Profile

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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