Spirit Realty Capital, Inc. (NYSE:SRC) Earns “Hold” Rating from SunTrust Banks, Inc.

Spirit Realty Capital, Inc. (NYSE:SRC)‘s stock had its “hold” rating restated by research analysts at SunTrust Banks, Inc. in a report issued on Friday, November 3rd. They presently have a $8.50 target price on the real estate investment trust’s stock. SunTrust Banks, Inc.’s target price points to a potential downside of 0.93% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Bank of America Corporation upgraded Spirit Realty Capital from an “underperform” rating to a “buy” rating and raised their price target for the stock from $6.50 to $9.75 in a research note on Wednesday, August 16th. BidaskClub raised Spirit Realty Capital from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Mizuho set a $9.00 price target on Spirit Realty Capital and gave the company a “buy” rating in a report on Sunday, October 22nd. Zacks Investment Research cut Spirit Realty Capital from a “hold” rating to a “sell” rating in a report on Tuesday, August 15th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $11.00 price objective on shares of Spirit Realty Capital in a report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Spirit Realty Capital has an average rating of “Hold” and a consensus target price of $9.47.

Spirit Realty Capital (NYSE:SRC) opened at $8.58 on Friday. The company has a market capitalization of $3,929.83, a PE ratio of 10.14 and a beta of 0.56. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.59 and a quick ratio of 0.59. Spirit Realty Capital has a 1-year low of $6.64 and a 1-year high of $11.29.

Spirit Realty Capital declared that its board has approved a stock buyback plan on Monday, August 14th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the real estate investment trust to purchase up to 6.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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Several large investors have recently bought and sold shares of SRC. Cubist Systematic Strategies LLC grew its holdings in Spirit Realty Capital by 302.0% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 154,870 shares of the real estate investment trust’s stock worth $1,327,000 after buying an additional 116,343 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in Spirit Realty Capital by 474.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,033,700 shares of the real estate investment trust’s stock worth $8,859,000 after buying an additional 853,700 shares in the last quarter. Highbridge Capital Management LLC grew its holdings in Spirit Realty Capital by 329.3% in the 3rd quarter. Highbridge Capital Management LLC now owns 588,168 shares of the real estate investment trust’s stock worth $5,041,000 after buying an additional 451,168 shares in the last quarter. Monarch Alternative Capital LP grew its holdings in Spirit Realty Capital by 19.2% in the 3rd quarter. Monarch Alternative Capital LP now owns 11,730,897 shares of the real estate investment trust’s stock worth $100,534,000 after buying an additional 1,891,100 shares in the last quarter. Finally, Marathon Asset Management LP bought a new position in Spirit Realty Capital in the 3rd quarter worth approximately $26,267,000. 92.86% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Spirit Realty Capital (NYSE:SRC)

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