Spirit Realty Capital (NYSE:SRC) Upgraded by Morgan Stanley to Overweight

Share on StockTwits

Morgan Stanley upgraded shares of Spirit Realty Capital (NYSE:SRC) from an equal weight rating to an overweight rating in a report released on Wednesday morning, BenzingaRatingsTable reports. They currently have $49.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $41.00.

Several other research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of HEXO from a hold rating to a sell rating in a research note on Wednesday, May 15th. ValuEngine raised shares of Zogenix from a buy rating to a strong-buy rating in a research note on Thursday, June 27th. Deutsche Bank downgraded shares of Ontex Group from a buy rating to a hold rating in a research note on Wednesday, May 8th. Finally, JPMorgan Chase & Co. assumed coverage on shares of INTL CONS AIRL/S in a research note on Tuesday, June 4th. They issued an overweight rating for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Spirit Realty Capital presently has an average rating of Hold and a consensus price target of $43.75.

Spirit Realty Capital stock opened at $44.80 on Wednesday. Spirit Realty Capital has a 52 week low of $33.86 and a 52 week high of $45.63. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.79. The stock has a 50-day simple moving average of $43.86. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of 11.85 and a beta of 0.41.

Spirit Realty Capital (NYSE:SRC) last released its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.48 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.33). Spirit Realty Capital had a return on equity of 5.82% and a net margin of 31.91%. The business had revenue of $112.59 million during the quarter, compared to analysts’ expectations of $104.71 million. During the same quarter in the prior year, the firm earned $1.07 earnings per share. Spirit Realty Capital’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, research analysts forecast that Spirit Realty Capital will post 3.19 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 5.58%. The ex-dividend date of this dividend is Thursday, June 27th. Spirit Realty Capital’s payout ratio is 66.14%.

Hedge funds have recently made changes to their positions in the stock. Osborn Williams & Donohoe LLC acquired a new position in shares of Spirit Realty Capital during the 1st quarter valued at about $25,000. Pinnacle Financial Partners Inc. acquired a new stake in Spirit Realty Capital during the 1st quarter worth approximately $44,000. Advisory Services Network LLC increased its position in Spirit Realty Capital by 43.9% during the 1st quarter. Advisory Services Network LLC now owns 1,640 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 500 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in Spirit Realty Capital during the 1st quarter worth approximately $111,000. Finally, Ellis Investment Partners LLC acquired a new stake in Spirit Realty Capital during the 1st quarter worth approximately $114,000. 90.59% of the stock is owned by hedge funds and other institutional investors.

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.

Read More: Blockchain

Analyst Recommendations for Spirit Realty Capital (NYSE:SRC)

Receive News & Ratings for Spirit Realty Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit Realty Capital and related companies with MarketBeat.com's FREE daily email newsletter.