The stock of Spirit Realty Capital Inc. (NYSE:SRC) increased by $0.05 on Friday to finish at $39.80, up 0.13 percent. The last five days have seen an average of 634,760 shares of common stock traded. 14 times new highs were reached in the current year, with a fall of -$0.13. The average number of shares traded over the last 20 days was 739,405, while the average volume over the last 50 days totaled 665,404.
SRC stock dropped -2.38% since last month. On 08/03/23, the company’s shares reached a one-month low of $38.89. The stock touched a high of $44.88 on 02/14/23, after rallying from a low of $34.31 in 52 weeks. The price of SRC stock has declined by -0.33% or -$0.13 this year, reaching a new high 14 times. Still, the stock price is down -11.32% from the 52-week high.
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Insider Transactions
SRC stock investors should be aware that Spirit Realty Capital Inc. (SRC) stock had its last reported insider trading activity 69 days ago on Jun 06. On Jun 06, Director Frymire Michelle M sold 4,000 shares at $39.75 each. This transaction resulted in the insider making $159,000. On Mar 02, Thomas Rochelle sold 2,815 shares at a price of US$41.29. After the transaction, the insider now owns 8,834 shares. EVP, CAO, CLO Young Jay had earlier sold 17,500 shares on Mar 01 for $41.00 a share. The transaction was completed for $717,500.
Valuation Metrics
Spirit Realty Capital Inc. (SRC) has a trailing price-to-earnings (P/E) ratio of 19.40. Beta for the stock is 1.27. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 7.55, the price-to-book (PB) ratio of 1.28.
Company paid $0.6696 per share in dividends, an increase of 1.0% from $0.6630 last year.
Financial Health
The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.87, and the total debt to equity ratio is 0.87. As far as profitability goes, gross margin for the trailing twelve months is 95.90% percent. Spirit Realty Capital Inc.’s operating margin stood at 22.10% for the same period. Based on annual data, it had gross profit of $170.01 million and revenue of $709.63 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. SRC’s return on assets (ROA) during the last 12 months has been 3.40%. There was a 2.10% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 6.50%.
Earnings Surprise
According to Spirit Realty Capital Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $189.3 million, while revenues rose by 7.59% to $188.29 million. It was predicted that Spirit Realty Capital Inc.’s quarterly earnings would be $0.36, but it ended up being $0.36. EBITDA was $122.71 million for the quarter. At the end of Spirit Realty Capital Inc.’s most recent quarter ended June 29, its total debt was $3.82 billion. Equity owned by shareholders amounts to $141.33 million.
Technical Picture
Here’s a quick look at Spirit Realty Capital Inc.’s (SRC) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 42.86%, suggesting the stock is Neutral, with a 12.56% historical volatility rate.
The stochastic %K and %D were 27.07% and 27.11% respectively, while the average true range (ATR) was 0.70. Based on the 14-day stochastic reading of 30.03%, the RSI (14) reading is 45.81%. On the 9-day MACD Oscillator, the stock is at 0.02, and the 14-day reading is at -0.34.
Analyst Ratings
In its analyst report released on June 14, 2023, Exane BNP Paribas began covering Spirit Realty Capital Inc. (NYSE: SRC). The stock was rated as an Underperform by the brokerage firm. Analysts have assigned Spirit Realty Capital Inc. (SRC) an Overweight rating. SRC is a stock that is recommended for selling by 1 brokerage firm, while 11 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 6 others recommend it as a buy.
What is SRC’s price target for the next 12 months?
The current consensus forecast for the stock is between $38.00 and $58.00, with a median target price of $42.00. In analyzing these forecasts, the average price target given by analysts for Spirit Realty Capital Inc. (SRC) is $43.67.
