Notable Runner: Is Spirit Realty Capital, Inc (New)’s Fuel Running Low? The Stock Just Declined Again

Notable Runner: Is Spirit Realty Capital, Inc (New)'s Fuel Running Low? The Stock Just Declined Again

The stock of Spirit Realty Capital, Inc (New) (NYSE:SRC) is a huge mover today! The stock decreased 3.65% or $0.47 on October 5, hitting $12.39. Spirit Realty Capital, Inc (New) (NYSE:SRC) has risen 20.41% since March 2, 2016 and is uptrending. It has outperformed by 12.15% the S&P500.
The move comes after 5 months negative chart setup for the $6.54B company. It was reported on Oct, 5 by Barchart.com. We have $11.27 PT which if reached, will make NYSE:SRC worth $588.60 million less.

Analysts await Spirit Realty Capital, Inc (New) (NYSE:SRC) to report earnings on November, 3. They expect $0.22 earnings per share, up 4.76% or $0.01 from last year’s $0.21 per share. SRC’s profit will be $116.13M for 14.08 P/E if the $0.22 EPS becomes a reality. After $0.22 actual earnings per share reported by Spirit Realty Capital, Inc (New) for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

Spirit Realty Capital, Inc (New) (NYSE:SRC) Ratings Coverage

Out of 11 analysts covering Spirit Realty Capital (NYSE:SRC), 8 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 73% are positive. Spirit Realty Capital has been the topic of 18 analyst reports since July 23, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained it with “Sector Perform” rating and $11 target price in Friday, August 7 report. The stock has “Neutral” rating given by Robert W. Baird on Thursday, January 7. The stock of Spirit Realty Capital, Inc (New) (NYSE:SRC) earned “Buy” rating by UBS on Monday, September 26. The firm has “Buy” rating by Deutsche Bank given on Friday, August 7. The stock of Spirit Realty Capital, Inc (New) (NYSE:SRC) earned “Buy” rating by Deutsche Bank on Friday, August 7. The stock has “Overweight” rating given by Morgan Stanley on Wednesday, September 7. UBS upgraded the stock to “Buy” rating in Wednesday, April 27 report. Wunderlich initiated it with “Buy” rating and $12.50 target price in Tuesday, October 27 report. SunTrust initiated the shares of SRC in a report on Monday, December 14 with “Buy” rating. As per Monday, September 14, the company rating was downgraded by Bank of America.

According to Zacks Investment Research, “Spirit Realty Capital, Inc. is a real estate investment trust. It acquires single tenant, operationally essential real estate where the tenants conduct retail, service or distribution activities. The Company has investments throughout the United States. Its portfolio of properties is leased to tenants operating in different industries which includes restaurants; general, specialty and discount retailers; movie theatres; education facilities; health, fitness and recreational facilities; automotive dealers, parts and service facilities; and supermarkets. Spirit Realty Capital, Inc. is based in Scottsdale, Arizona.”

Insitutional Activity: The institutional sentiment increased to 1.38 in Q2 2016. Its up 0.12, from 1.26 in 2016Q1. The ratio improved, as 25 funds sold all Spirit Realty Capital, Inc (New) shares owned while 69 reduced positions. 28 funds bought stakes while 102 increased positions. They now own 452.09 million shares or 7.12% more from 422.06 million shares in 2016Q1.
Guyasuta Invest Advsrs holds 0.04% of its portfolio in Spirit Realty Capital, Inc (New) (NYSE:SRC) for 22,000 shares. Blackrock Advsrs Ltd has 0% invested in the company for 264,897 shares. Jane Street Gru Limited Company holds 21,660 shares or 0% of its portfolio. State Street Corp owns 8.37M shares or 0.01% of their US portfolio. Manning & Napier Advsrs Ltd Co last reported 585,200 shares in the company. Stifel Finance has 41,301 shares for 0% of their US portfolio. Sii Invests Inc Wi, a Wisconsin-based fund reported 81,576 shares. Whittier Tru Of Nevada last reported 0.03% of its portfolio in the stock. Moreover, Credit Agricole S A has 0.01% invested in Spirit Realty Capital, Inc (New) (NYSE:SRC) for 166,620 shares. Comerica State Bank reported 20,803 shares or 0% of all its holdings. Moreover, Stevens Mngmt Lp has 0.1% invested in Spirit Realty Capital, Inc (New) (NYSE:SRC) for 203,136 shares. Creative Planning has 8,412 shares for 0% of their US portfolio. Goldman Sachs Gp last reported 0% of its portfolio in the stock. Arete Wealth Advisors Ltd Liability Company has 23,654 shares for 0.19% of their US portfolio. Ig Investment Mgmt reported 102,027 shares or 0.01% of all its holdings.

Insider Transactions: Since June 1, 2016, the stock had 0 buys, and 2 sales for $370,724 net activity. 15,000 shares were sold by NOLAN THOMAS H JR, worth $198,524 on Thursday, September 1.

More recent Spirit Realty Capital, Inc (New) (NYSE:SRC) news were published by: Globenewswire.com which released: “Spirit Realty Capital Announces New President and Chief Operating Officer” on July 26, 2016. Also Globenewswire.com published the news titled: “Spirit Realty Capital, Inc. Announces Plan to Relocate Headquarters” on November 16, 2015. Reuters.com‘s news article titled: “BRIEF-Spirit Realty Capital says unit issues notes worth $300 mln” with publication date: August 19, 2016 was also an interesting one.

SRC Company Profile

Spirit Realty Capital, Inc., incorporated on September 29, 2004, is a self-administered and self-managed real estate investment trust (REIT). The Company’s in-house capabilities include acquisition, portfolio management, asset management, credit research, real estate research, legal, finance and accounting and capital markets. The Firm operates through leasing activities segment. It invests in single-tenant, operationally essential real estate throughout the United States that is acquired through strategic sale-leaseback transactions and subsequently leased on a long-term, triple-net basis to high-quality tenants with business within retail, but also office and industrial property types. The Company’s owned properties are approximately 98.6% occupied (based on number of properties), and its leases has a weighted average non-cancelable remaining lease term (based on total rental revenue) of approximately 10.7 years. The Company’s leases are generally long-term, typically with non-cancelable initial terms of 15 to 20 years and tenant renewal options for additional terms.

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