Spirit Realty Capital Gets a Hold Rating from Ladenburg

By Ryan Adsit

In a report released today, Daniel Donlan from Ladenburg reiterated a Hold rating on Spirit Realty Capital (NYSE: SRC). The company’s shares opened today at $8.58.

According to TipRanks.com, Donlan is a 3-star analyst with an average return of 1.8% and a 65.8% success rate. Donlan covers the Financial sector, focusing on stocks such as Innovative Industrial Properties Inc, NexPoint Residential Trust Inc, and Four Corners Property Trust.

Currently, the analyst consensus on Spirit Realty Capital is Moderate Buy and the average price target is $9.30, representing an 8.4% upside.

In a report issued on November 10, Robert W. Baird also downgraded the stock to Hold with a $9 price target.

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.

Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SRC in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.