Oppenheimer Asset Management Inc. Has $831,000 Stake in Spirit Realty Capital Inc (NYSE:SRC)

Oppenheimer Asset Management Inc. raised its stake in shares of Spirit Realty Capital Inc (NYSE:SRC) by 56.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 31,797 shares of the real estate investment trust’s stock after purchasing an additional 11,473 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Spirit Realty Capital were worth $831,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Coastal Investment Advisors Inc. acquired a new position in Spirit Realty Capital during the 4th quarter valued at about $26,000. Wealth Quarterback LLC acquired a new position in Spirit Realty Capital during the 4th quarter valued at about $44,000. Rockefeller Capital Management L.P. acquired a new position in Spirit Realty Capital during the 4th quarter valued at about $47,000. Private Capital Group LLC boosted its stake in Spirit Realty Capital by 81.5% during the 1st quarter. Private Capital Group LLC now owns 993 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 446 shares during the last quarter. Finally, Pinnacle Financial Partners Inc. acquired a new position in Spirit Realty Capital during the 4th quarter valued at about $54,000. Institutional investors and hedge funds own 92.91% of the company’s stock.

In other Spirit Realty Capital news, EVP Jay Young acquired 2,500 shares of Spirit Realty Capital stock in a transaction that occurred on Wednesday, April 15th. The stock was acquired at an average cost of $25.99 per share, for a total transaction of $64,975.00. Following the purchase, the executive vice president now owns 27,746 shares of the company’s stock, valued at $721,118.54. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jackson Hsieh acquired 10,200 shares of Spirit Realty Capital stock in a transaction that occurred on Tuesday, April 14th. The stock was acquired at an average price of $29.31 per share, with a total value of $298,962.00. Following the completion of the purchase, the chief executive officer now directly owns 255,843 shares in the company, valued at approximately $7,498,758.33. The disclosure for this purchase can be found here. 0.92% of the stock is currently owned by insiders.

Several research firms have commented on SRC. Deutsche Bank dropped their target price on shares of Spirit Realty Capital from $56.00 to $41.00 and set a “hold” rating on the stock in a research report on Wednesday, March 25th. Morgan Stanley cut shares of Spirit Realty Capital from an “overweight” rating to an “equal weight” rating and set a $31.00 target price on the stock. in a research report on Monday, May 4th. Royal Bank of Canada dropped their target price on shares of Spirit Realty Capital from $43.00 to $33.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 22nd. Zacks Investment Research cut shares of Spirit Realty Capital from a “buy” rating to a “hold” rating in a research report on Friday, April 3rd. Finally, ValuEngine raised shares of Spirit Realty Capital from a “strong sell” rating to a “sell” rating in a research report on Thursday, April 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $46.57.

NYSE:SRC opened at $28.46 on Monday. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $2.93 billion, a PE ratio of 23.72 and a beta of 1.12. The firm’s 50 day moving average is $27.25 and its 200 day moving average is $42.58. Spirit Realty Capital Inc has a 12 month low of $18.37 and a 12 month high of $54.63.

Spirit Realty Capital (NYSE:SRC) last posted its quarterly earnings results on Tuesday, May 5th. The real estate investment trust reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.93). The company had revenue of $121.36 million during the quarter, compared to the consensus estimate of $122.40 million. Spirit Realty Capital had a return on equity of 3.75% and a net margin of 22.00%. During the same period last year, the firm posted $0.86 EPS. Research analysts predict that Spirit Realty Capital Inc will post 2.38 earnings per share for the current year.

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.

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