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Spirit Realty Capital, Inc. (SRC-PA)

NYSE - Nasdaq Real Time Price. Currency in USD
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26.53-0.02 (-0.08%)
At close: 12:55PM EST
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  • Spirit Realty Drops 5% As 3Q Sales Miss Estimates; Street Says Hold
    SmarterAnalyst

    Spirit Realty Drops 5% As 3Q Sales Miss Estimates; Street Says Hold

    Shares of Spirit Realty Capital fell 4.5% in Monday's extended trading session after the company's 3Q sales fell short of analysts' expectations. The real estate investment trust's adjusted revenue grew 3.1% to $112.9 million, but missed Street estimates of $119.2 million.Spirit Realty’s (SRC) adjusted fund from operations (AFFO), a key measure of profitability, declined 17.2% to $0.72 per share, but exceeded analysts’ forecasts of $0.69.Spirit Realty CEO Jackson Hsieh said, "The third quarter marked a rapid, positive shift in our business, as our tenants reopened, rent collections accelerated and the capital markets became more constructive. Our portfolio has performed extremely well, with occupancy at 99.3% and rent collections reaching 93.3%, a strong affirmation of this team’s underwriting and the strength and stability of our well-diversified portfolio.” (See SRC stock analysis on TipRanks).Last month, UBS analyst Brent Dilts initiated coverage on the stock with a Sell rating and a price target of $27 (13.2% downside potential). Dilts is concerned about the company’s rent collection challenges and believes that the situation will likely persist for a longer time than anticipated by the Street.Currently, the Street is sidelined on the stock. The Hold analyst consensus is based on 2 Holds, 2 Buys and 1 Sell. The average price target of $34.50 implies upside potential of about 10.9% to current levels. Shares have dropped by 36.8% year-to-date.Related News: Magellan Tops 3Q Profit As Refined Products Demand Improves Twitter’s Ad Revenues Drive 3Q Sales Beat Clorox Hikes 2021 Guidance Due To Cleaning Bonanza; Shares Rise 4% More recent articles from Smarter Analyst: * AMC Sinks 8.5% On $47.7M Equity Offering; Street Sees 80% Upside * Nutrien Sinking 4% Despite Earnings Beat On Strong Potash Sales * Mondelez Beats Q3 Estimates On Elevated Demand In Developed Markets * Vornado Flips To Loss in 3Q; Street Sees 29% Upside

  • Spirit Realty Capital Inc (SRC) Q3 2020 Earnings Call Transcript
    Motley Fool

    Spirit Realty Capital Inc (SRC) Q3 2020 Earnings Call Transcript

    Presenting on today's call will be President and Chief Executive Officer, Mr. Jackson Hsieh; and Chief Financial Officer, Mr. Michael Hughes. Before we get started, I would like to remind everyone that this presentation contains forward-looking statements. Although the company believes these forward-looking statements are based upon reasonable assumptions, they are subject to known and unknown risks and uncertainties that can cause actual results to differ materially from those currently anticipated due to a number of factors.

  • Spirit Realty (SRC) Tops Q3 FFO Estimates
    Zacks

    Spirit Realty (SRC) Tops Q3 FFO Estimates

    Spirit Realty (SRC) delivered FFO and revenue surprises of 4.35% and -5.26%, respectively, for the quarter ended September 2020. Do the numbers hold clues to what lies ahead for the stock?