Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Spirit Realty Capital Inc. shares valued at $251,459 were purchased by GILCHRIST RICHARD I on Dec 01. At $41.91 per share, GILCHRIST RICHARD I acquired 6,000 shares. The insider’s holdings grew to 44,409 shares worth approximately $1.82 million following the completion of this transaction.
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As published in a research note from Raymond James on January 09, 2023, Spirit Realty Capital Inc. [SRC] has been rated down from an Outperform to a Mkt perform. Analysts at BofA Securities downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid November. As of October 20, 2022, Oppenheimer has initiated its “Perform” rating for SRC. Earlier on May 10, 2022, JMP Securities initiated its rating. Their recommendation was “a Mkt outperform” for SRC stock.
Analyzing SRC Stock Performance
On Wednesday, Spirit Realty Capital Inc. [NYSE: SRC] plunged -0.49% to $40.98. The stock’s lowest price that day was $40.59, but it reached a high of $41.27 in the same session. During the last five days, there has been a drop of approximately -4.87%. Over the course of the year, Spirit Realty Capital Inc. shares have jumped approximately 2.63%. Shares of the company reached a 52-week high of $44.65 on 02/14/23 and a 52-week low of $39.43 on 01/05/23. A 50-day SMA is recorded $42.01, while a 200-day SMA reached $40.65. Nevertheless, trading volume fell to 0.9 million shares from 1.09 million shares the previous day.
Support And Resistance Levels for Spirit Realty Capital Inc. (SRC)
According to the 24-hour chart, there is a support level at 40.62, which, if violated, would cause prices to drop to 40.27. In the upper region, resistance lies at 41.30. The next price resistance is at 41.63. RSI (Relative Strength Index) is 34.01 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.71, which suggests the price will decrease in the coming days. Percent R is at 90.39%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Spirit Realty Capital Inc. subject to short interest?
Stocks of Spirit Realty Capital Inc. saw a sharp steep in short interest on Jan 12, 2023 dropping by -0.54 million shares to 2.05 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 2.59 million shares. A decline of -26.34% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.33 of the overall float, the days-to-cover ratio (short ratio) decline to 2.33.
Which companies own the most shares of Spirit Realty Capital Inc. (SRC)?
According to The Vanguard Group, Inc. filings, the company currently owns 20,163,887 shares, which is about 14.44% of the total SRC shares outstanding. The investor’s shares have appreciated by 502,410 from its previous 13-F filing of 19661477.0 shares. With the completion of the buy transaction, Cohen & Steers Capital Management’s stake is now worth $709,437,272. BlackRock Fund Advisors acquire a 8.91% interest valued at $596.67 million while SSgA Funds Management, Inc. purchased a 348,197 stake. A total of -34,849 shares of Spirit Realty Capital Inc. were bought by Fidelity Management & Research Co during the quarter, and 179,310 were bought by FIAM LLC. In its current portfolio, Daiwa Asset Management Co. Ltd. holds 2,984,847 shares valued at $130.98 million.
In terms of Spirit Realty Capital Inc. share price expectations, FactSet research, analysts set an average price target of $46.00 in the next 12 months, up nearly 10.49% from the previous closing price of $41.18. Analysts anticipate Spirit Realty Capital Inc. stock to reach $58.00 by 2023, with the lowest price target being $40.00. In spite of this, 14 analysts ranked Spirit Realty Capital Inc. stock as an Overweight at the end of 2023. On January 12, 2022, Janney assigned a price target of “a Buy” to the stock and upgraded coverage with a $53.