Earnings Results under Review: Spirit Realty Capital, Inc. (NYSE: SRC)

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On Friday, Spirit Realty Capital, Inc stock identified change of 46.10% away from 52-week low price and recently located move of -7.06% off 52-week high price. It has market worth of $4940.07M and dividend yield of 5.05%. SRC stock has been recorded -1.06% away from 50 day moving average and 10.17% away from 200 day moving average. Moving closer, we can see that shares have been trading -4.09% off 20-day moving average.

Spirit Realty Capital, Inc. (SRC) recently stated its financial and operating results for the third quarter ended September 30, 2019.


Invested $276.5M, including $270.6M for the acquisition of 69 properties, with an initial weighted average cash yield of 6.84% and an economic yield of 7.61%.

Issued $300.0M of Spirit Realty, L.P.’s 3.20% Senior Unsecured Notes due 2027 and $500.0M of Spirit Realty, L.P.’s 3.40% Senior Unsecured Notes due 2030.

Generated net income from continuing operations of $0.87 vs $0.32 per diluted share, FFO of $1.06 vs $0.80 per share and AFFO of $1.27 vs $0.85 per share, contrast to the same quarter in 2018. AFFO not including the termination fee income received from SMTA related to SMTA’s termination of the Asset Management Contract, net of the income tax expense impact, was $0.87 per share for the third quarter of 2019.

Settled 9.6M shares of ordinary stock, generating gross proceeds of $395.5M and net proceeds of $375.7M, which settled the remaining forward contracts entered into in connection with the underwritten public offering of ordinary stock completed in the second quarter of 2019.

Received an upgraded credit rating fromB- toB/stable from Fitch Ratings.

Received $265M in aggregate proceeds from transactions associated with SMTA’s sale of Master Trust 2014.

Had corporate liquidity of $1.16B as of September 30, 2019, comprised of availability under the unsecured revolving credit facility and cash and cash equivalents.

Spirit Realty Capital, Inc. noticed change of -0.46% to $49.47 along volume of 2087783 shares in recent session compared to an average volume of 877.67K. The stock observed return of -5.81% in 5 days trading activity. The stock was at -0.54% over one-month performance. SRC’s shares are at 4.70% for the quarter and driving a 24.55% return over the course of the past year and is now at 40.34% since this point in 2018.  The average volatility for the week at 2.23% and for month was at 1.73%. There are 99.86M shares outstanding and 98.97M shares are floated in market. Right now, the stock beta is 0.41.


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