Spirit Realty Capital Inc [NYSE: SRC] price plunged by -1.56 percent to reach at -$0.67. The company report on January 19, 2024 at 4:05 PM that Spirit Realty Capital Shareholders Approve Realty Income Merger.
Realty Income Corporation (NYSE: O) (“Realty Income”), The Monthly Dividend Company®, and Spirit Realty Capital, Inc. (NYSE: SRC) (“Spirit”), today announced that Spirit stockholders approved all of the proposals necessary for the closing of the previously announced merger pursuant to which Realty Income will acquire Spirit. No approval of Realty Income shareholders is required in connection with the merger.
At the special meeting of Spirit stockholders held today, approximately 99.8% of the votes cast were voted in favor of the merger, which represented approximately 86.4% of the outstanding shares of Spirit common stock.
The one-year SRC stock forecast points to a potential upside of 3.58. The average equity rating for SRC stock is currently 2.54, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Spirit Realty Capital Inc [SRC]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SRC shares is $43.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SRC stock is a recommendation set at 2.54. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Exane BNP Paribas have made an estimate for Spirit Realty Capital Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 07, 2023.
The Average True Range (ATR) for Spirit Realty Capital Inc is set at 0.93, with the Price to Sales ratio for SRC stock in the period of the last 12 months amounting to 7.79. The Price to Book ratio for the last quarter was 1.38, with the Price to Cash per share for the same quarter was set at 0.95. Price to Free Cash Flow for SRC in the course of the last twelve months was 14.19.
SRC Stock Performance Analysis:
Spirit Realty Capital Inc [SRC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.68. With this latest performance, SRC shares dropped by -3.47% in over the last four-week period, additionally plugging by 1.17% over the last 6 months – not to mention a rise of 3.07% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SRC stock in for the last two-week period is set at 41.24, with the RSI for the last a single of trading hit 31.97, and the three-weeks RSI is set at 47.44 for Spirit Realty Capital Inc [SRC]. The present Moving Average for the last 50 days of trading for this stock 42.41, while it was recorded at 43.20 for the last single week of trading, and 39.00 for the last 200 days.
SRC Stock EPS
With the latest financial reports released by the company, Spirit Realty Capital Inc posted 0.48/share EPS, while the average EPS was predicted by analysts to be reported at 0.38/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 26.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SRC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Spirit Realty Capital Inc go to 37.47%.
Spirit Realty Capital Inc [SRC] Institutonal Ownership Details
The top three institutional holders of SRC stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in SRC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SRC stock with ownership which is approximately 5.8325%.
