B.Riley FBR Issues a Buy Rating on Spirit Realty Capital

By Ryan Adsit

B.Riley FBR analyst David Corak assigned a Buy rating to Spirit Realty Capital (NYSE: SRC) today and set a price target of $9. The company’s shares closed yesterday at $8.62.

Corak wrote:

“We met with Spirit Realty Capital’s management on Monday, November 13th, at 4:00 pm Central at the 2017 NAREIT Investor Conference. Below are the takeaways from the meeting.”

According to TipRanks.com, Corak is a 3-star analyst with an average return of 2.4% and a 56.4% success rate. Corak covers the Financial sector, focusing on stocks such as National Storage Affiliates Trust, Preferred Apartment Communities, and NorthStar Realty Europe Corp.

Spirit Realty Capital has an analyst consensus of Moderate Buy, with a price target consensus of $9.30.

Based on Spirit Realty Capital’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $168 million and GAAP net loss of $3.65 million. In comparison, last year the company earned revenue of $171 million and had a net profit of $9.25 million.

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Spirit Realty Capital, Inc. engages as a real estate investment trust. Its in-house capabilities includes acquisition, portfolio management, asset management, credit research, real estate research, legal, finance and accounting, and capital markets. The company was founded in August 14, 2003 and is headquartered in Dallas, TX.