SRC Stock Recent News

Spirit Realty (SRC) came out with quarterly funds from operations (FFO) of $0.91 per share, beating the Zacks Consensus Estimate of $0.90 per share. This compares to FFO of $0.90 per share a year ago.

W.P. Carey is a diversified net-lease REIT. Spirit Realty is a retail-focused net-lease REIT that is branching out into new areas.

Spirit Realty is a net lease REIT trading at just 11 times the anticipated AFFO. The REIT needs just 2% of its AFFO to cover the preferred dividend. In a stress test scenario, an overnight jump of the cost of debt to 6.75% would reduce the AFFO by just 25%.

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.

Given the wide discounts today in REIT-dom, I believe it's a perfect storm for M&A activities, especially within the Net Lease sector. I would not be surprised to see Broadstone Net Lease, Alpine Net Lease, or Spirit Realty being sold to either public or private REITs. Agree Realty, Realty Income, and W.P. Carey have terrific platforms in which they can use their scale and cost of capital advantages to generate solid accretion and long-term shareholder value.

Spirit Realty Capital, Inc. has a well-diversified tenant portfolio with a healthy balance sheet. Attractive dividend yield of 6.84% which is well-covered; potential for increases. Spirit Realty Capital, Inc. reported strong Q1 2023 earnings; guidance for FY 2023 raised.

Triple net REITs are opportunistic on 2 fronts: Valuation is cheaper than normal. Forward growth is faster than normal.

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.

Spirit Realty Capital, Inc. (NYSE:SRC ) Q1 2023 Earnings Conference Call May 4, 2023 9:30 AM ET Company Participants Pierre Revol – Senior Vice President-Corporate Finance and Investor Relations Jackson Hsieh – President and Chief Executive Officer Michael Hughes – Chief Financial Officer Ken Heimlich – Chief Investment Officer Conference Call Participants Michael Goldsmith – UBS Ravi Vaidya – Mizuho Ki Bin Kim – Truist Ronald Kamdem – Morgan Stanley Linda Tsai – Jefferies Josh Dennerlein – Bank of America Brad Heffern – RBC Capital Markets Wes Golladay – Baird John Massocca – Ladenburg Thalmann Spenser Allaway – Green Street Advisors Greg McGinniss – Scotiabank Operator Good day, and welcome to the Spirit Realty Capital First Quarter 2023 Earnings Conference Call. All participants will be in listen-only mode.

Spirit Realty Capital: The Phoenix Rises (Rating Downgrade).