The stock of Spirit Realty Capital, Inc (New) (NYSE:SRC) is a huge mover today! About 3.63 million shares traded hands. Spirit Realty Capital, Inc (New) (NYSE:SRC) has declined 10.47% since April 11, 2016 and is downtrending. It has underperformed by 16.62% the S&P500.
The move comes after 7 months positive chart setup for the $4.96 billion company. It was reported on Nov, 11 by Barchart.com. We have $15.26 PT which if reached, will make NYSE:SRC worth $2.13 billion more.
Spirit Realty Capital, Inc (New) (NYSE:SRC) Ratings Coverage
Out of 12 analysts covering Spirit Realty Capital (NYSE:SRC), 9 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 75% are positive. Spirit Realty Capital has been the topic of 19 analyst reports since July 23, 2015 according to StockzIntelligence Inc. UBS maintained the stock with “Buy” rating in Thursday, August 4 report. The rating was maintained by Deutsche Bank on Friday, August 7 with “Buy”. The firm earned “Buy” rating on Tuesday, May 10 by Wunderlich. The rating was upgraded by UBS on Wednesday, April 27 to “Buy”. The company was downgraded on Thursday, July 23 by Morgan Stanley. The rating was initiated by SunTrust on Monday, December 14 with “Buy”. On Friday, October 14 the stock rating was initiated by Mizuho with “Buy”. The firm earned “Buy” rating on Monday, September 26 by UBS. Morgan Stanley upgraded the stock to “Overweight” rating in Wednesday, September 7 report. Bank of America downgraded Spirit Realty Capital, Inc (New) (NYSE:SRC) on Monday, September 14 to “Neutral” rating.
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 increased, 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.
Brookfield Asset owns 7.73M shares or 0.51% of their US portfolio. Parkwood Limited Liability has invested 0.1% of its portfolio in Spirit Realty Capital, Inc (New) (NYSE:SRC). Moreover, Rhumbline Advisers has 0.01% invested in Spirit Realty Capital, Inc (New) (NYSE:SRC) for 374,564 shares. Clearbridge Ltd holds 0.02% or 1.61M shares in its portfolio. Dimensional Fund Limited Partnership has 6.33 million shares for 0.05% of their US portfolio. Blackrock Fund Advsrs accumulated 0.02% or 7.13 million shares. Jefferies Gru Llc, a New York-based fund reported 9,739 shares. Weiss Multi owns 800,000 shares or 0.79% of their US portfolio. The Massachusetts-based State Street Corporation has invested 0.01% in Spirit Realty Capital, Inc (New) (NYSE:SRC). Counsel reported 158,200 shares or 0.2% of all its holdings. Envestnet Asset last reported 0% of its portfolio in the stock. Cetera Ltd Liability Company holds 65,854 shares or 0.07% of its portfolio. Art Advsrs Limited Liability Com has 110,353 shares for 0.07% of their US portfolio. Mizuho Asset Management Coltd holds 0.5% or 216,400 shares in its portfolio. Qci Asset Mgmt Inc Ny, a New York-based fund reported 12,018 shares.
Insider Transactions: Since June 1, 2016, the stock had 1 buying transaction, and 2 sales for $343,690 net activity. $172,200 worth of shares were sold by NOLAN THOMAS H JR on Wednesday, June 1. The insider JOSEPH PHILLIP D JR bought $27,034.
More news for Spirit Realty Capital, Inc (New) (NYSE:SRC) were recently published by: Globenewswire.com, which released: “Spirit Realty Capital Announces New President and Chief Operating Officer” on July 26, 2016. Globenewswire.com‘s article titled: “Spirit Realty Capital, Inc. Announces Plan to Relocate Headquarters” and published on November 16, 2015 is yet another important article.
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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