Spirit Realty Capital, Inc (SRC) Position Decreased by Sumitomo Mitsui Asset Management Company LTD

Sumitomo Mitsui Asset Management Company LTD cut its stake in shares of Spirit Realty Capital, Inc (NYSE:SRC) by 62.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 560,480 shares of the real estate investment trust’s stock after selling 925,938 shares during the period. Sumitomo Mitsui Asset Management Company LTD owned about 0.12% of Spirit Realty Capital worth $4,153,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Janney Montgomery Scott LLC purchased a new stake in shares of Spirit Realty Capital during the first quarter valued at approximately $109,000. PNC Financial Services Group Inc. boosted its stake in shares of Spirit Realty Capital by 24.0% in the first quarter. PNC Financial Services Group Inc. now owns 11,684 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 2,265 shares during the last quarter. Penserra Capital Management LLC boosted its stake in shares of Spirit Realty Capital by 51.5% in the first quarter. Penserra Capital Management LLC now owns 11,730 shares of the real estate investment trust’s stock valued at $118,000 after buying an additional 3,986 shares during the last quarter. Toronto Dominion Bank purchased a new stake in shares of Spirit Realty Capital during the first quarter valued at approximately $141,000. Finally, Investment Centers of America Inc. boosted its stake in shares of Spirit Realty Capital by 2.6% in the first quarter. 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 during the last quarter.

Spirit Realty Capital, Inc (NYSE SRC) opened at 8.41 on Friday. Spirit Realty Capital, Inc has a one year low of $6.64 and a one year high of $13.95. The stock’s 50 day moving average price is $7.94 and its 200-day moving average price is $8.92. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of 63.71 and a beta of 0.55.

Spirit Realty Capital (NYSE:SRC) last released its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.01. Spirit Realty Capital had a return on equity of 1.74% and a net margin of 9.47%. The company had revenue of $168.65 million during the quarter, compared to analysts’ expectations of $163.19 million. During the same period last year, the firm posted $0.22 earnings per share. The business’s revenue was down 1.8% on a year-over-year basis. On average, equities research analysts expect that Spirit Realty Capital, Inc will post $0.21 EPS for the current fiscal year.

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

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Several equities research analysts recently commented on the company. UBS AG cut Spirit Realty Capital from a “buy” rating to a “neutral” rating and lowered their price target for the company from $12.00 to $9.00 in a research note on Thursday, May 4th. BidaskClub raised Spirit Realty Capital from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Zacks Investment Research cut Spirit Realty Capital from a “hold” rating to a “sell” rating in a research note on Tuesday. Royal Bank Of Canada boosted their price target on Spirit Realty Capital from $8.00 to $9.00 and gave the company a “sector perform” rating in a research note on Friday, August 4th. Finally, FBR & Co boosted their price target on Spirit Realty Capital from $8.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, May 5th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $10.60.

In other news, Director Todd A. Dunn purchased 14,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was acquired at an average cost of $8.49 per share, with a total value of $118,860.00. Following the acquisition, the director now owns 64,560 shares in the company, valued at approximately $548,114.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Phillip D. Joseph, Jr. purchased 6,700 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The shares were purchased at an average cost of $7.47 per share, with a total value of $50,049.00. Following the completion of the acquisition, the chief financial officer now owns 134,868 shares in the company, valued at approximately $1,007,463.96. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 68,497 shares of company stock valued at $528,508. Insiders own 0.50% of the company’s stock.

About Spirit Realty Capital

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.

Institutional Ownership by Quarter for Spirit Realty Capital (NYSE:SRC)

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