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Spirit Realty Capital, Inc.NYSE:SRC Rapport sur les actions

Capitalisation boursière US$6.0b
Prix de l'action
n/a
1Y1.7%
7D-4.9%
1D-1.6%
Valeur du portefeuille
​
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Spirit Realty Capital, Inc.

NYSE:SRC Rapport sur les actions

Capitalisation boursière : US$6.0b

This company has been acquired

The company may no longer be operating, as it has been acquired. Find out why through their latest events.

Spirit Realty Capital (SRC) Aperçu de l'action

Spirit Realty Capital, Inc. (NYSE: SRC) is a premier net-lease REIT that primarily invests in single-tenant, operationally essential real estate assets, subject to long-term leases. Plus de détails

SRC analyse fondamentale
Score flocon de neige
Évaluation5/6
Croissance future0/6
Performances passées1/6
Santé financière1/6
Dividendes4/6

Récompenses

Se négocie à 42.8% en dessous de notre estimation de sa juste valeur

Se négocie à un bon prix par rapport à ses pairs et au secteur

Analyse des risques

Les bénéfices devraient diminuer en moyenne de 8.7% par an au cours des 3 prochaines années

Les paiements d’intérêts ne sont pas bien couverts par les bénéfices

Des éléments non récurrents importants ayant un impact sur les résultats financiers

Historique instable des dividendes


SRC Community Fair Values

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Spirit Realty Capital, Inc. Concurrents

Historique des prix et performances

Résumé des hausses, des baisses et des variations du cours de l'action pour la période du 1er janvier au 31 décembre 2009 Spirit Realty Capital
Historique des cours de bourse
Prix actuel de l'actionUS$42.31
Plus haut sur 52 semainesUS$45.60
Plus bas sur 52 semainesUS$32.22
Bêta1.38
Variation sur 1 mois-3.11%
Variation sur 3 mois29.67%
Variation sur 1 an1.71%
Variation sur 3 ans5.64%
Variation sur 5 ans9.81%
Évolution depuis l'introduction en bourse-9.21%

Nouvelles et mises à jour récentes

Recent updates

Seeking Alpha • Nov 01

REIT Merger Standoff: Spirit Realty The Clear Winner With A Low Risk Potential 18.5% Return

Summary Spirit Realty shares merging with their fixed exchange ratio of 0.762x and Realty Income shares returning to their pre-merger AFFO multiple of 12.3x provides for an 18.5% total return potential. $1.8 billion in combined equity value lost despite over $100 million in combined merger synergies with no need to for expensive debt financing represents a dislocation from fundamentals. Spirit Realty shares are currently trading below its fixed exchange ratio despite the merger not requiring approval by Realty Income shareholders. Read the full article on Seeking Alpha
Seeking Alpha • Oct 17

Spirit Is Anything But Spooky

Summary Net lease REIT sector is down 13.6% in 2023 with a dividend yield average of 7.3%. I have avoided Gladstone Commercial and Global Net Lease due to unsustainable dividends. Spirit Realty is down 15% year-to-date and trading at a cheap valuation of 9.4x, making it a potential M&A target. Read the full article on Seeking Alpha
Seeking Alpha • Sep 19

Spirit Realty Capital: A Solid Prospect For Value-Oriented, Yield-Seeking Investors

Summary Spirit Realty Capital is a sizeable REIT with a yield of nearly 7.4% and a fundamentally healthy business model. The company owns and leases out single tenant real estate under long-term, triple net leases, with a 99.8% occupancy rate. Spirit Realty Capital has diverse industry exposure and geographic distribution, and has shown growth in revenue and profitability metrics. Read the full article on Seeking Alpha
Seeking Alpha • Aug 26

Pounce On Spirit Realty Before Realty Income Does

Summary Spirit Realty Capital is a net lease REIT with a 7% yield and trading at significant discount to fair value. SRC's recent results have been positive, with boosted guidance for adjusted FFO per share. The company has good diversification, long lease lengths and strong tenant quality, making it an attractive investment option. Read the full article on Seeking Alpha
Seeking Alpha • Jun 30

Nothing Spooky About Spirit

Summary Spirit Realty Capital, Inc. is a net-lease REIT with a well-diversified portfolio and a 6.5% yield, making it an attractive investment option for those seeking retail REIT exposure. Spirit Realty has a 99.8% occupancy rate and has significantly improved its tenant mix and industry exposure, with a focus on service retail and industrial sectors. The company has a strong track record of positive results, and its current valuation decline may present a good investment opportunity. Read the full article on Seeking Alpha
Seeking Alpha • May 31

Spirit Realty: I'd Rather Chase High Yield

Summary Spirit Realty Capital, Inc. offers a high yield of 6.8% and attractive total return potential, making it a good investment option. The company has transformed its portfolio to become more resilient to e-commerce disruption and has solid operating fundamentals. With a strong balance sheet and low leverage, Spirit Realty is well-positioned to continue pursuing accretive deals. Read the full article on Seeking Alpha
Seeking Alpha • Feb 23

Spirit Realty Capital declares $0.663 dividend

Spirit Realty Capital (NYSE:SRC) declares $0.663/share quarterly dividend, in line with previous. Forward yield 6.17% Payable April 14; for shareholders of record March 31; ex-div March 30. See SRC Dividend Scorecard, Yield Chart, & Dividend Growth.
Seeking Alpha • Feb 16

Spirit Realty: The 6% Yield Is Growing

Summary Spirit Realty is paying out a 6% yield that's been growing over the last two years against the torrid macroeconomic context. The yield is supported by a strong triple net-lease portfolio and is fully covered by FFO. Whilst some investors might want to consider the Series A preferreds, the commons offer a stronger investment profile over the long term. Dallas, Texas-based triple net-lease and internally managed REIT Spirit Realty (SRC) last declared a $0.663 per share quarterly dividend. This was in line with its prior payout for an annualized 6% yield. This yield is attractive against a macroeconomic backdrop defined by inflation at elevated levels and rising Fed funds rates. Data by YCharts The REIT's quarterly dividend payout has been growing since the pandemic and is up by 3.54% over the last 12 months. However, this rate of growth is around 34% lower than its peer group median. Critically, any investment in Spirit will be based on how safe the current payout is and whether or not this payout is primed for growth. With the commons down by around 5.5% over the last 12 months, the dividend has done most of the heavy lifting to shift total returns to a small positive gain of 0.75%. 2,118 Owned Properties, Triple Net-Leases, And FFO Growth Spirit has built a property portfolio made up of retail, industrial, and office tenants under long-term triple net leases. The REIT's portfolio as of the end of its last reported fiscal 2022 third quarter held 2,118 properties with a total leasable area of 55.7 million square feet spread across 49 states and 346 tenants operating in 34 industries. The portfolio is in good shape with occupancy at around 99.8% and more than half of the portfolio being listed on either the NYSE or Nasdaq. Spirit counts Dollar Tree (DLTR), BJ's Wholesale Club (BJ), and Life Time Fitness among its top tenants. Spirit Realty The inherent stability of the portfolio is further highlighted by its lack of disproportional overexposure to a single tenant. Around 22% of annualized base rent ((ABR)) coming from ten tenants and its largest tenant, Life Time Fitness, only forms 4.1% of ABR. Spirit Realty This is further diversified across a number of industries albeit with a 70.4% total exposure to retail. The REIT reported rental revenue of $180.3 million for the third quarter, up from $151.4 million in the year-ago comp. This was driven by $247.9 million in gross investments during the quarter with Spirit placing a heavy emphasis on the expansion of its industrial investments. Spirit Realty The REIT reported a net income of $74 million, around $0.54 per share and up from $0.32 per share in the year-ago quarter. Funds from operations (FFO) was $0.93 per share and adjusted FFO at $0.90 per share. Whilst Spirit is set to release its fiscal 2022 fourth quarter earnings before the market opens on February 28, 2023, the REIT has guided for total AFFO for the full year to come in at $3.57 per share. This would be a growth of 9.8% over fiscal 2021 to set the backdrop for continued dividend growth. The current annualized dividend of $2.65 per share is fully covered by AFFO with the payout ratio at 74%. An Alternative With The Series A Preferreds I like to also look at any relevant preferreds of REITs and Spirit's 6.00% Series A Cumulative Preferred Stock (SRC.PA) offers a different investment profile to more risk-averse investors. The fixed income like security pays out a $1.50 annual coupon for a 6.2% yield on cost. They're also cumulative which is important in reducing the likelihood of a suspension of the coupon as any unpaid distribution accumulates as a liability to be repaid at a future redemption event. QuantumOnline The Series A is currently trading at $24.25, 3% below its $25 redemption value. This compares favourably with the commons which are currently trading at a 66.8% premium to a $26.41 tangible book value per share. Whilst they're currently trading past their October 3, 2022 redemption date, it's unlikely Spirit will redeem the full $150 million issue in the current calendar year with the Fed funds rates still rising to exert pressure on the financing market.
Seeking Alpha • Jan 24

Spirit Realty Capital declares $0.663 dividend

Spirit Realty Capital (NYSE:SRC) declares $0.663/share quarterly dividend, in line with previous. Forward yield 6.38% Payable Jan. 13; for shareholders of record Dec. 30; ex-div Dec. 29. See SRC Dividend Scorecard, Yield Chart, & Dividend Growth.
Seeking Alpha • Jan 09

Like Passive Income? Buy Spirit Realty Capital's 6.6% Yield

Summary Spirit Realty Capital, Inc. is growing its adjusted funds from operations fast. Spirit Realty Capital’s portfolio exhibits robust key metrics. The trust’s stock has a compelling valuation based on FFO. Spirit Realty Capital, Inc. (SRC) is a well-managed commercial real estate investment trust ("REIT") with a strong annualized base rent growth forecast for 2023. The trust benefits from commercial real estate recovery following the pandemic and has strong portfolio metrics that support its dividend to shareholders. Furthermore, Spirit Realty Capital provides inflation protection to passive income investors because most of its contracts include rent escalation triggers. The stock of Spirit Realty Capital also provides passive income investors with a 6.6% dividend that is covered by funds from operations and has the potential to grow over time. Spirit Realty Capital’s Asset Composition Spirit Realty Capital's real estate portfolio is primarily comprised of retail and industrial properties, but the trust is also investing in office space. Retail real estate generates $465.6 million (70.4%) of the trust's total annual rental income and is thus Spirit Realty Capital's most important income source. Spirit Realty Capital earned $137.0 million in rental income from industrial real estate (20.7%), while office and other real estate earned $58.4 million (8.9%). Portfolio Overview (Spirit Realty Capital) As of September 30, 2022, Spirit Realty Capital's real estate portfolio was 99.8% occupied, and the trust has consistently maintained high occupancy over time, even during the Covid-19 pandemic. A high occupancy rate is required for strong portfolio performance, asset utilization, and growth in funds from operations. Occupancy Rates (Spirit Realty Capital) Inflation Protection The majority (91%) of Spirit Realty Capital's rental contracts include either fixed or variable rental rate increases. The majority of leases (77%) automatically trigger annual fixed rental increases, while approximately 14% are triggered by increases in the underlying consumer price index. Because of these automatic rent increases, Spirit Realty Capital is poised to grow its rental income and funds from operations organically in the future, even if the trust decides not to make any acquisitions. Escalation Types (Spirit Realty Capital) Dividend Pay-Out Ratio In 3Q-22, Spirit Realty Capital earned $0.90 per share in adjusted funds from operations, implying a dividend pay-out ratio of 74%. The trust earned $2.68 per share in adjusted funds from operations and paid $1.94 per share in dividends from January to September, for a pay-out ratio of 72%. The dividend has been adequately covered by AFFO (adjusted funds from operations), and given the strength of key portfolio metrics such as occupancy/FFO forecast, the dividend is likely to rise further. Adjusted Funds From Operations (Spirit Realty Capital) Spirit Realty Capital Raised Its FFO Guidance The commercial trust reduced its adjusted FFO forecast in the fourth quarter and is now guiding for $3.55 to $3.57 per share in adjusted funds for operations in 2022, representing a mid-point YoY growth rate of 9.5%. The trust benefits from a significant recovery in the commercial real estate market following Covid-19. Adjusted FFO Forecast (Spirit Realty Capital) Spirit Realty Capital's stock is valued at 11.4x FFO based on the trust's funds from operations guidance for 2022. Another commercial trust that competes in the same retail space as Spirit Realty Capital is Kimco Realty Corporation (KIM), which trades at an FFO multiple of 13.6x, and then there is Realty Income Corporation (O) at a funds from operations multiple of 16.4x. Why Spirit Realty Capital Could See A Lower Valuation Spirit Realty Capital is a commercially focused real estate investment trust whose performance is determined by the state of the real estate market as a whole. A downturn in the commercial real estate market is likely to have an impact on the trust's funds from operations potential and dividend growth prospects. Having said that, Spirit Realty Capital's consistent high occupancy suggests that the trust's downside is likely to be rather limited.
Seeking Alpha • Nov 14

Spirit Realty Capital, NETSTREIT stocks downgraded to Neutral at BofA

BofA Securities analyst Joshua Dennerlein downgraded Spirit Realty Capital (NYSE:SRC) and NETSTREIT (NYSE:NTST) to Neutral from Buy on Monday as he takes a more balanced view of net lease REITs heading into 2023. "Commentary from the latest earnings calls suggests lighter net acquisition volumes are ahead and investment spreads have narrowed," the analyst wrote in a note to clients. For Spirit Realty (SRC), BofA's model now reflects smaller net investment activity ($1B in 2023 vs. $1.5B in 2022) next year at lower investment spreads. Dennerlein expects only 0.9% adjusted FFO growth in 2023. The same factors come into play with NETSTREIT (NTST). Net investment activity is now seen at $430M for 2023 from $482M in 2022, also on lower investment spreads. He expects AFFO growth of 4.6% next year. SRC stock slipped 0.5% in Monday afternoon trading and NTST slid 1.3%. Compare Spirit Realty (SRC) key metrics with NETSTREIT's (NTST) here. See why SA contributor High Yield Investor prefers SRC's yield over NNN's.
Seeking Alpha • Oct 30

Spirit Realty: At These Yields Don't Look Away

Summary Spirit Realty is scheduled to release its Q3 earnings report on November 8. Investors are eagerly anticipating whether management's macro outlook could worsen markedly. SRC was also battered in 2022, posting a YTD total return of -16.4%. However, it has also improved its reward-to-risk profile for patient investors. We discuss why SRC could continue to trade at a discount against its REIT peers. Despite that, we explain why we view the current opportunity to add more exposure as favorable. However, investors can consider waiting for a pullback first, given the sharp recovery surge last week. Thesis Leading internally-managed net lease REIT Spirit Realty Capital, Inc. (SRC) is scheduled to release its Q3 earnings on November 8. Despite its discount against its peers, SRC posted a YTD total return of -16.4% as investors parsed the reward-to-risk profile of its yields. SRC has understandably been battered despite its robust tenant portfolio. In Q2, 85% of its annualized base rent ((ABR)) consists of tenants with an annualized revenue of at least $100M (65% with more than $1B in annualized revenue). Coupled with an occupancy rate of 99.8%, SRC investors can continue to count on the visibility of its AFFO. Despite that, we gleaned that SRC's 10Y total return CAGR of 7.6% suggests its share price gains have been relatively lackluster. Moreover, the 10Y mean of its NTM dividend yields (6.8%) indicates that its dividend yields have primarily driven its total return CAGR. Therefore, Spirit Realty investors focusing on total return may have been disappointed with the REIT's ability to drive better share price gains to supplement its distributions. Notwithstanding, we gleaned the potential for investors to partake in a mean-reversion opportunity seems relatively interesting at the current levels. We discuss why we assess that the reward-to-risk is favorable, although we don't consider SRC undervalued. Also, investors should remain poised for a worse-than-expected recession, which would cause value compression but improve its reward-to-risk profile tremendously. Despite that, its price action remains constructive, even though the recovery surge last week could face some digestion in the coming weeks. So, if you are not in a hurry, you can consider waiting for a potential pullback before adding more positions. We rate SRC as a Buy. Spirit Realty Could Find It Tough To Shake Off Its Lower Relative Valuation SRC NTM Dividend yields % valuation trend (koyfin) SRC last traded at an NTM dividend yield of 6.76%, in line with its 10Y mean of 6.63%. Therefore, we don't consider SRC as undervalued in this aspect. However, SRC's NTM AFFO per share multiple of 10.7x is discernibly below its 10Y mean of 12.7x. Hence, the market has already de-rated SRC, which is also implied in its YTD total return. SRC's AFFO per share multiple trades at a discount against its peers' set (according to S&P Cap IQ data). Accordingly, its peers' median AFFO per share multiple of 13.7x is markedly higher than SRC's. SRC's relative discount was also noted by management in its previous earnings call, as Spirit Realty CEO accentuated: "But I would tell you like you know where our equity multiple is and it's not great." Spirit Realty AFFO per share change % consensus estimates (S&P Cap IQ) We assess that Spirit Realty's lower multiples could be attributed to its relatively poor AFFO per share growth performance over time. Hence, we postulate that the market will unlikely re-rate SRC in line with its peers unless the REIT can improve the consistency of its results. However, the revised consensus estimates (bullish) suggest that Spirit Realty's AFFO per share growth could slow through FY24. Hence, a material re-rating is unlikely in the near term. Furthermore, SRC's markedly lower multiples could place it at a disadvantage in the market when raising equity financing without diluting its holders significantly more than its peers at higher multiples. As a result, Spirit Realty may need to rely more on debt financing to fund its investment activity, which was also projected to slow down in H2'22. Therefore, we urge investors to continue paying attention to management's commentary on the revisions to its investment cadence. Furthermore, reliance on debt financing with an aggressive Fed could further add to its interest expense, reducing the accretion to its AFFO. Is SRC Stock A Buy, Sell, Or Hold? With these near-term headwinds, investors could find it challenging to assess whether there are appropriate opportunities to capitalize on the recent pessimism in SRC. We assess that its valuation has likely reflected a mild-to-moderate recession but not a severe one. Moreover, management's previous commentary did not suggest that it sees a severe recession as the base case. Hence, investors should glean significant clues to management's updated macro outlook in the upcoming earnings. SRC price chart (weekly) (TradingView) We observed a potentially significant bottoming signal, which was validated in October. The massive down move from its August highs has likely shaken out investors who tried to pick its June lows.
Seeking Alpha • Sep 26

Spirit Realty: A Super 7% Yield To Turn Up The Cash Flow

Summary Spirit Realty is a quality net lease retail and industrial REIT with a high occupancy rate. It pays a well covered and growing dividend, and is able to unlock value through asset dispositions. General market pressure has driven down this stock to an attractive level. Experienced value investors have been there and seen that. That's why they will tell you to wait for stocks to come to you versus the other way around. The current market downturn has created many bargain opportunities, especially in the high yield arena. This brings me to Spirit Realty Capital (SRC), which is likely the highest-yielding internally managed net lease REIT. This article highlights the merits of investing in SRC at the current price point, so let's get started. Why SRC? Spirit Realty Capital is a self-managed net lease REIT that owns a large number of properties spread across the U.S. It's made great strides in improving its risk profile since its current CEO came on board in 2017, spinning off its lower quality properties and improving its balance sheet profile. At present, SRC enjoys a high occupancy rate of 99.8%, and carries a diverse portfolio of 2,078 retail, industrial, and other properties across 49 states, and leased to 342 tenants in 35 industries. SRC earns a solid reputation with its tenant base, as 82% of its recent deals were relationship sourced. Also, while SRC generates the majority (79.5%) of its annual base rent from retail tenants, they mostly fit into e-commerce resistant categories such as health clubs, car washes, home furnishing, restaurants, dollar stores, and auto dealerships, as shown below. SRC Portfolio Mix (Investor Presentation) Meanwhile, SRC is showing no signs of slowing down, as it invested an impressive $417 million during the second quarter at an attractive cash capitalization of 6.4%. This includes 56 properties across 38 transactions with a long-weighted average lease term of 14.4 years. This was funded in part by active portfolio recycling with $103 million of proceeds from the disposition of 17 properties at a much lower cap rate of 4.4%, and by the issuance of two million shares when SRC's share price was much higher than where it's at now. Headwinds to SRC are fairly obvious, as higher interest rates raise the cost of debt, and the lower share price makes equity issuances unattractive. As such, SRC could see slower growth in the current environment. However, it's worth noting that SRC maintains a strong BBB rated balance sheet from S&P and that while its cost of capital is higher, cap rates have also trended higher as well. Management also sees opportunities in the deal pipeline, as mentioned during the Q&A session of the last conference call: Q: I think you had mentioned that you were expecting higher cap rates in the back half of the year. And maybe as part of that, can you share some thoughts on the pipeline and what some of the pricing there looks like? A: I can tell you in our acquisition pipeline meetings, we're seeing really interesting opportunities that are really at meaningful spreads where we think versus, say, earlier in the year or last year. And what that translates into is I'd say generally like in the retail assets that we're looking at evaluating, cap rates have increased 25 to 50 basis points if you compare it to say, late last year. You didn't ask, but I'm going to tell you like one of the reasons why I think this is happening is this concept of is gone. People that need to close transactions once certainty of close versus price, I think it's really critical. And one of the reasons why we are so consistent on this disposition program going forward is it's super informative, gives us a lot of visibility real-time as to how bidders are responding in the marketplace, and that gives us better information on how to lean in and lean out.
Seeking Alpha • Aug 22

Spirit Realty Capital announces $800M term loan facility

Spirit Realty Capital (NYSE:SRC) said Monday it closed on a new $800M unsecured term loan facility. The facility comprises of a $300M three-year tranche with a maturity date of Aug. 22, 2025 and a $500M five-year tranche with a maturity date of Aug. 20, 2027. The facility also includes an accordion feature to increase available term loans in the aggregate amount of $200M. Borrowing rates under the new term loans are variable and subject to a leverage-based pricing grid, currently calculated as one-month adj. SOFR plus an 85 bps spread based on SRC's credit rating. In anticipation of closing the term loan, SRC previously entered into interest swap deals, effectively fixing interest rate at 3.45% for 2027 maturity and 3.59% for 2025 maturity, resulting in a weighted average interest rate of 3.5% for the $800M facility.
Seeking Alpha • May 13

Spirit Realty Capital: Spirit-Lifting Dividends And Upside Potential

Spirit Realty Capital is a net-lease REIT that benefits from stable cash flows and long-dated maturities. The company's portfolio is protected by significant diversification and increased exposure to higher quality assets and tenants. Shares in SRC are down significantly YTD and are currently trading near their lows, with a dividend yield of over 6.5%. At just 11.4x forward AFFO, shares are discounted to historical averages and the sector median.
Seeking Alpha • Apr 18

Spirit Realty Capital: Buy This 5.6% Yielding Recession-Resistant Trust

Spirit Realty Capital has a strong AFFO forecast in place. Historical occupancy trends, including during the pandemic period, make SRC a top quality REIT to bet on. Low valuation and low payout ratio make SRC a must-buy REIT.
Seeking Alpha • Apr 10

Spirit Realty: My Oh My, Another Strong Buy

What’s most interesting about Spirit Realty right now is the divergence between the direction that the stock’s fundamentals are headed and the direction of the company’s share price. SRC’s share price is down mid-single digits thus far throughout 2022; however, Spirit Realty is expected to post high single digit AFFO growth this year. We give SRC stock a “Safe Strong Buy” rating, making it one of the most intriguing opportunities that we see in the REIT space today.
Seeking Alpha • Feb 06

Spirit Realty Capital: Dirt Cheap And Higher Quality Than The Market Thinks

Despite strong portfolio growth, revenue growth, and AFFO per share growth, SRC continues to be shunned by the market. Though SRC has a punishingly high cost of equity, its BBB credit rating affords the REIT a fairly low cost of debt. Management has made do with their less-than-optimal cost of capital, acquiring solid properties at an attractive spread above SRC's cost of capital. The 2% dividend hike in Q3 2021 should be the first of many more to come in future years. If the market comes to recognize the quality of the new and improved SRC, then shareholder returns should be fantastic from the current price.
Seeking Alpha • Nov 24

Now Yielding 5.4%, Spirit Realty Capital Is Unfairly Maligned By The Market

SRC has been taking a lot of positive steps to raise portfolio quality, increase balance sheet strength, and return to growth mode. And yet, the market continues to punish the REIT with a below-average valuation — and thus an above-average cost of capital. Even so, management has done excellent work at sourcing appropriate acquisitions with high yields and attractive lease terms. One very interesting transaction in Q3 involved ClubCorp, the largest owner and operator of private golf courses and country clubs in the nation.
Seeking Alpha • Sep 11

Spirit Realty Pays You A 5.2% Yield, And Is No Longer Spooky

Spirit Realty has transformed into a higher-quality REIT in recent years, and carries a very high occupancy rate. Its asset recycling strategy contributes to accretive growth and it has access to low cost of debt. I highlight what makes SRC a solid Buy at present, as well as its dividend and balance sheet.
Seeking Alpha • Jun 28

Spirit Realty Capital: Now Is The Best Time To Own Consumer Discretionary Real Estate

SRC was badly positioned to handle COVID-19 because of its tenant mix, but that means that the REIT is especially well equipped to thrive in the current post-pandemic recovery. The net lease REIT recently performed some refinancing activity that lowered its cost of debt and extended its debt maturity profile. Movie theaters, which make up 4.4% of SRC's portfolio, are making a strong comeback this year. At 16x FFO and with a 5.1% yield, SRC still looks attractive.

Rendement pour les actionnaires

SRCUS Retail REITsUS Marché
7D-4.9%4.8%-2.7%
1Y1.7%23.6%18.6%

Rendement vs Industrie: SRC a dépassé le secteur US Retail REITs qui a rapporté 23.6 % au cours de l'année écoulée.

Rendement vs marché: SRC a sous-performé le marché US qui a rapporté 18.6 % au cours de l'année écoulée.

Volatilité des prix

Is SRC's price volatile compared to industry and market?
SRC volatility
SRC Average Weekly Movement4.0%
Retail REITs Industry Average Movement2.8%
Market Average Movement7.2%
10% most volatile stocks in US Market16.9%
10% least volatile stocks in US Market3.1%

Cours de l'action stable: SRC n'a pas connu de volatilité de prix significative au cours des 3 derniers mois par rapport au marché US.

Volatilité au fil du temps: La volatilité hebdomadaire de SRC ( 4% ) est restée stable au cours de l'année écoulée.

À propos de l'entreprise

FondéeSalariésPDGSite web
200389Jackson Hsiehwww.spiritrealty.com

Spirit Realty Capital, Inc. Résumé des fondamentaux

Comment les bénéfices et les revenus de Spirit Realty Capital se comparent-ils à sa capitalisation boursière ?
SRC statistiques fondamentales
Capitalisation boursièreUS$5.99b
Bénéfices(TTM)US$248.00m
Recettes(TTM)US$754.36m
24.1x
Ratio P/E
7.9x
Ratio P/S

Le site SRC est-il surévalué ?

Voir Juste valeur et analyse de l'évaluation

Bénéfices et recettes

Principales statistiques de rentabilité tirées du dernier rapport sur les bénéfices (TTM)
SRC compte de résultat (TTM)
RecettesUS$754.36m
Coût des recettesUS$52.37m
Marge bruteUS$701.98m
Autres dépensesUS$453.99m
Les revenusUS$248.00m

Derniers bénéfices déclarés

Sep 30, 2023

Prochaine date de publication des résultats

s/o

Résultat par action (EPS)1.75
Marge brute93.06%
Marge bénéficiaire nette32.88%
Ratio dettes/capitaux propres85.0%

Quelles ont été les performances à long terme de SRC?

Voir les performances historiques et les comparaisons

Dividendes

6.3%
Rendement actuel des dividendes
75%
Ratio de distribution

Analyse de l'entreprise et données financières

DonnéesDernière mise à jour (heure UTC)
Analyse de l'entreprise2024/01/23 11:13
Cours de l'action en fin de journée2024/01/22 00:00
Les revenus2023/09/30
Revenus annuels2022/12/31

Sources de données

Les données utilisées dans notre analyse de l'entreprise proviennent de S&P Global Market Intelligence LLC. Les données suivantes sont utilisées dans notre modèle d'analyse pour générer ce rapport. Les données sont normalisées, ce qui peut entraîner un délai avant que la source ne soit disponible.

PaquetDonnéesCadre temporelExemple de source américaine *
Finances de l'entreprise10 ans
  • Compte de résultat
  • Tableau des flux de trésorerie
  • Bilan
Estimations consensuelles des analystes+3 ans
  • Prévisions financières
  • Objectifs de prix des analystes
Prix du marché30 ans
  • Cours des actions
  • Dividendes, scissions et actions
Propriété10 ans
  • Actionnaires principaux
  • Délits d'initiés
Gestion10 ans
  • L'équipe dirigeante
  • Conseil d'administration
Principaux développements10 ans
  • Annonces de l'entreprise

* Exemple pour les titres américains ; pour les titres non américains, des formulaires réglementaires et des sources équivalentes sont utilisés.

Sauf indication contraire, toutes les données financières sont basées sur une période annuelle mais mises à jour trimestriellement. C'est ce qu'on appelle les données des douze derniers mois (TTM) ou des douze derniers mois (LTM). En savoir plus.

Modèle d'analyse et flocon de neige

Les détails du modèle d'analyse utilisé pour générer ce rapport sont disponibles sur notre page Github, nous proposons également des guides pour apprendre à utiliser nos rapports et des tutoriels sur YouTube.

Découvrez l'équipe de classe mondiale qui a conçu et construit le modèle d'analyse Simply Wall St.

Indicateurs de l'industrie et du secteur

Nos indicateurs de secteur et de section sont calculés toutes les 6 heures par Simply Wall St. Les détails de notre processus sont disponibles sur Github.

Sources des analystes

Spirit Realty Capital, Inc. est couverte par 19 analystes. 6 de ces analystes ont soumis les estimations de revenus ou de bénéfices utilisées comme données d'entrée dans notre rapport. Les soumissions des analystes sont mises à jour tout au long de la journée.

AnalysteInstitution
Nathan CrossettBerenberg
Joshua DennerleinBofA Global Research
Robert StevensonBrean Capital Historical (Janney Montgomery)