Spirit Realty Capital, Inc. (SRC) Shares Bought by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA increased its position in shares of Spirit Realty Capital, Inc. (NYSE:SRC) by 995.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,893,280 shares of the real estate investment trust’s stock after buying an additional 1,720,424 shares during the period. BNP Paribas Arbitrage SA owned 0.39% of Spirit Realty Capital worth $14,029,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in the stock. New England Investment & Retirement Group Inc. bought a new stake in shares of Spirit Realty Capital during the second quarter worth $100,000. Janney Montgomery Scott LLC bought a new stake in shares of Spirit Realty Capital during the first quarter worth $109,000. Penserra Capital Management LLC raised 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 worth $118,000 after buying an additional 3,986 shares during the last quarter. PNC Financial Services Group Inc. raised 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 worth $119,000 after buying an additional 2,265 shares during the last quarter. Finally, Toronto Dominion Bank bought a new stake in shares of Spirit Realty Capital during the first quarter worth $141,000.
Shares of Spirit Realty Capital, Inc. (NYSE SRC) opened at 8.41 on Friday. The stock has a 50 day moving average of $7.94 and a 200 day moving average of $8.92. The company has a market cap of $3.86 billion, a price-to-earnings ratio of 63.71 and a beta of 0.55. Spirit Realty Capital, Inc. has a 12-month low of $6.64 and a 12-month high of $13.95.
Spirit Realty Capital (NYSE:SRC) last issued its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The firm had revenue of $168.65 million for the quarter, compared to analysts’ expectations of $163.19 million. Spirit Realty Capital had a net margin of 9.47% and a return on equity of 1.74%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.22 earnings per share. Analysts forecast that Spirit Realty Capital, Inc. will post $0.21 earnings per share for the current year.
Spirit Realty Capital announced that its Board of Directors has authorized a stock buyback plan on Monday, August 14th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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A number of equities research analysts recently weighed in on SRC shares. Deutsche Bank AG reiterated a “buy” rating and set a $10.00 price objective (down previously from $14.00) on shares of Spirit Realty Capital in a report on Friday, May 5th. BidaskClub upgraded shares of Spirit Realty Capital from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Bank of America Corporation upgraded shares of Spirit Realty Capital from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $6.50 to $9.75 in a report on Wednesday. Morgan Stanley lowered shares of Spirit Realty Capital from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $11.50 to $8.40 in a report on Tuesday, May 9th. Finally, ValuEngine lowered shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $10.60.
In other news, insider Jackson Hsieh bought 13,700 shares of Spirit Realty Capital stock in a transaction that occurred on Wednesday, May 24th. The shares were purchased at an average price of $7.27 per share, with a total value of $99,599.00. Following the completion of the acquisition, the insider now directly owns 546,053 shares in the company, valued at $3,969,805.31. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Phillip D. Joseph, Jr. bought 6,700 shares of Spirit Realty Capital stock in a transaction that occurred on Friday, June 2nd. The stock was purchased at an average cost of $7.47 per share, for a total transaction of $50,049.00. Following the acquisition, the chief financial officer now owns 134,868 shares of the company’s stock, valued at $1,007,463.96. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 68,497 shares of company stock worth $528,508. 0.50% of the stock is owned by corporate insiders.
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.
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