Spirit Realty Capital, Inc.

Symbol: SRC
CIK: 1308606
Exchange: NYSE
Founded: 2003 (16 years)
HQ: Dallas, TX, United States
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Mid-Cap
REIT Sector: Retail, Office, Industrial

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See SRC on SEC.gov

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 5.6   Dividend Section Rating

Rating Dividend Section Avg. Rating
0 Dividend Payment Growth: Analysis of how the REIT’s dividend payments have performed during the last three years. 5.5
3 Dividend Payment Consistency: Analysis of how many periods the REIT’s dividends have been paid consistently without a gap in payment. 4.5
10 Dividend to AFFO Payout Ratio Health: Analysis of the REIT’s Dividend to AFFO Payout Ratios during the last four quarters. 6.9
9 Dividend to AFFO Payout Ratio Trend: Analysis of the REIT’s Dividend to AFFO Payout Ratios trend during the last two years. 5.8
6 AFFO Trend: Analysis of the REIT’s AFFO trend during the last two years. 7.0
5.6 Overall Dividend Section Rating: The REIT’s total dividend score from the compilation of the below dividend analysis. 6.8

 8.5   Leverage Section Rating

Rating Leverage Section Avg. Rating
7 Interest Coverage Health: Analysis of the REIT’s Interest Coverage health during the last four quarter. 6.6
10 Interest Coverage Health Trend: Analysis of the REIT’s Interest Coverage health trend during the last two years. 7.3
7 Total Debt Interest Rate Competitiveness: Analysis of the REIT’s Interest Rate to Total Debt competitiveness compared to REIT market. 8.0
8 Total Debt Interest Rate Trend: Analysis of the REIT’s Interest Rate to Total Debt trend during the last two years. 8.0
9 Debt Leverage Health: Analysis of the REIT’s Total Debt to Total Assets. 6.3
10 Debt Leverage Health Trend: Analysis of the REIT’s Total Debt to Total Assets over the last two years. 7.1
8.5 Overall Leverage Section Rating: The REIT’s total Debt Leverage score from the compilation of the above Debt analysis. 7.5

 4.0   Asset & Revenue Section Rating

Rating Asset & Revenue Section Avg. Rating
6 G&A Effeciency Level: Analysis of the REIT’s General and Administrative expenses in relationship to its Revenues. 6.9
8 G&A Effeciency Trend: Analysis of the Trend of the REIT’s General and Administrative expenses in relationship to its Revenues. 7.7
1 Revenues Growth: Analysis of how the REIT's Revenue has performed over the last two years. 6.9
1 Total Asset Growth: Analysis of how the REIT has grown its Total Assets over the last two years. 7.3
4.0 Overall Asset & Revenue Section Rating: The REIT’s total Asset, Revenues, and Administrative expenses score from the compilation of the above analysis. 7.2

 6.0   Overall REITRating™ Score


REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The REIT’s score for each analysis is out of ten points, with ten being the best score and zero being the worst. A score of zero can be assigned if the REIT does not meet the criteria for that specific analysis. N/A is assigned if insufficient data is available for a particular analysis. Our REITRating logic is continuously improving, so a REIT’s rating and ranking may change over time. Important Note: REITRating is not a predictor of a REIT’s future performance, it is an evaluation of its past results. Additionally, the REITRating system is for informational purposes only and does not represent financial or investment advice or a recommendation of which REITs to acquire. Learn more.

Stock Chart

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Hightlights of Trading Day August 16, 2019


Open Price: $45.64
Closing Price: $45.5
Price Change: 0.26 (0.575%)
Lowest Price: $45.01
Highest Price: $46.63

52-Week Low: $33.86
52-Week High: $46.56
52-Week Change: 7.06%

5 Day Price Change: -1.41%
1 Month Price Change: 3.20%
3 Month Price Change: 5.94%
6 Month Price Change: 14.21%
YTD Price Change: 31.39%
1 Year Price Change: 7.06%
2 Year Price Change: 11.95%
5 Year Price Change: -23.15%

Dividend of Trading Day August 16, 2019


Dividend Yield: 5.495%*
Annualized Dividend: $2.5*
Dividend Yield (TTM):
Annualized Dividend (TTM): $2.5
Ex Dividend Date: 2019-06-27
Dividend Frequency: Quarterly

*The forward annualized dividend and dividend yield are based on the most recent dividend value paid by the REIT. The REIT may have already announced their next upcoming dividend value, which may be different from previously paid dividend value. It is recommended to check the REIT's website and dividend announcements for the latest information on upcoming dividends and changes.

Latest News Headlines


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Funds From Operations (FFO)


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Key Stats of Trading Day August 16, 2019


Total Cash: $14,493,000
Current Debt: $990,586,000
Revenue: $287,066,000
Gross Profit: $242,807,000
Total Revenue: $287,066,000
Earnings Before Interest, Taxes & Depreciation Amortization (EBITDA): $212,797,000
Revenue Per Share: $3
Revenue Per Employee: $3,225,461
Employee: 89
Debt to Equity Ratio (D/E): 0.73
Profit Margin: 0.46%
Enterprise Value (EV): $6,140,058,000
Enterprise Value to Revenue (EV/R): 21.39
Price to Sales (P/S): 14.28
Price to Book (P/B): 1.49
Peg Ratio: 0.11
P/E Ratio: 24.08
P/E High: 24.90
P/E Low: 18.11
Forward P/E Ratio: 29.85
Market Capitalization: $4,099,914,000
Beta: 0.46
Latest Volume: 2,856,120.00
Avg. Total Volume: 1,692,703
Avg. 10 Volume: 1,268,639.10
Avg. 30 Volume: 1,692,702.70
TTM EPS: 1.89
TTM Dividend Rate: 2.50
Shares Outstanding: 90,108,000
Float: 89,661,244.54
50-Day Moving Avg.: 44.35
200-Day Moving Avg.: 40.48

Latest REIT Community Comments on #SRC


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Properties Owned by SRC


Properties owned:
1512
Types:
3
States:
49
Countries:
1
Sample of REIT’s Properties (Image Source - REIT’s website) | See more pictures
SRC Sample Property
Please visit this REIT’s official webpage to learn more.

Dividend History


Below are the most recent cash dividends paid by SRC, and the Ex-Dividend Date of the dividend. The percent difference from one dividend payment to the next has also been calculated for your convenience.


Symbol Ex Date Cash Amount Change in Dividend Declaration Date Record Date Payment Date

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Financial Statements Overview

Balance Sheet (Quarterly)

See Annual Balance Sheet | See Quarterly Balance Sheet

Amounts in USD ($)

Balance Sheet 2019-06-30 2019-03-31 2018-12-31 2018-09-30
Current Cash 9,984,000 9,376,000 14,493,000 7,578,000
Receivables 0 0 0 0
Inventory 0 0 0 0
Current Assets 0 0 0 0
Current Assets (Other) 0 0 0 0
Short Term Investments 0 0 0 0
Long-term Investments 194,495,000 202,028,000 246,463,000 201,279,000
Property, Plant & Equipment Net 0 6,100,000 0 0
Goodwill 225,600,000 225,600,000 225,600,000 225,600,000
Intangible Assets 297,749,000 291,095,000 294,463,000 302,954,000
Other Assets 33,717,000 108,908,000 29,903,000 123,329,000
Net Tangible Assets 2,026,469,000 1,928,140,000 1,906,504,000 1,905,400,000
Total Assets 5,308,033,000 5,158,857,000 5,096,316,000 5,092,909,000
Accounts Payable 0 0 0 0
Liabilities (Other) 252,558,000 231,703,000 239,930,000 223,283,000
Current Liabilities (Other) 56,318,000 54,254,000 56,205,000 0
Total Current Liabilities 0 0 0 0
Current Long-term Debt 3,459,000 411,266,000 990,586,000 432,717,000
Long-term Debt 2,122,556,000 1,697,252,000 1,064,051,000 1,631,551,000
Total Liabilities 2,378,573,000 2,340,221,000 2,294,567,000 2,287,551,000
Minority Interest 0 0 0 0
Common Stock 4,506,000 4,341,000 4,289,000 4,285,000
Retained Earnings -2,385,685,000 -2,371,531,000 -2,357,255,000 -2,354,908,000
Treasury Stock 0 0 0 0
Capital Surplus 5,165,396,000 5,031,829,000 4,995,697,000 4,989,804,000
Shareholder Equity 2,929,460,000 2,818,636,000 2,801,749,000 2,805,358,000

Income Statement (Quarterly)

See Annual Income Statement | See Quarterly Income Statement

Amounts in USD ($)

Income Statement 2019-06-30 2019-03-31 2018-12-31 2018-09-30
Total Revenue 114,741,000 77,193,000 74,736,000 108,344,000
Cost of Revenue 45,088,000 11,311,000 11,327,000 44,251,000
Gross Profit 69,653,000 65,882,000 63,409,000 64,093,000
Research and Development 0 0 0 0
Selling General and Admin 0 0 0 0
Operating Expense 58,921,000 24,492,000 24,477,000 55,284,000
Operating Income 55,647,000 52,630,000 50,192,000 53,034,000
Income Expense Net (Other) -9,590,000 -8,832,000 4,699,000 -21,877,000
EBIT 55,647,000 52,630,000 50,192,000 53,034,000
Interest Income 24,833,000 26,403,000 26,163,000 24,784,000
Pretax Income 46,057,000 43,798,000 54,891,000 31,157,000
Income Tax 320,000 220,000 317,000 135,000
Minority Interest 0 0 0 0
Net Income 45,487,000 43,306,000 53,897,000 29,852,000
Net Income Basic 42,899,000 40,718,000 51,309,000 27,264,000

Cash Flow

See Annual Cash Flow | See Quarterly Cash Flow

Amounts in USD ($)

Cash Flow 2019-06-30 2019-03-31 2018-12-31 2018-09-30
Net Income 45,487,000 43,306,000 53,897,000 29,852,000
Depreciation 6,605,000 6,880,000 -92,322,000 40,379,000
Changes in Receivables 0 0 0 0
Changes in Inventories 0 0 0 0
Cash Change -6,903,000 -49,529,000 52,122,000 -2,359,000
Cash Flow 72,922,000 71,353,000 102,553,000 73,401,000
Capital Expenditures -6,068,000 -19,612,000 -25,621,000 -5,636,000
Investments -287,237,000 -160,262,000 -15,221,000 -224,347,000
Investing Activity (Other) 0 0 0 0
Total Investing Cash Flows -160,561,000 -141,373,000 16,929,000 -223,045,000
Dividends Paid -56,845,000 -56,203,000 -56,148,000 -79,717,000
Net Borrowings 19,673,000 46,028,000 -11,144,000 224,725,000
Cash Flow Financing 80,736,000 20,491,000 -67,360,000 147,285,000
Financing Cash Flows (Other) -11,305,000 -1,009,000 -7,968,000 2,968,000
Exchange Rate Effect 0 0 0 0

Related Information


Material Source Description
SPIRIT MTA REIT PUBLICLY FILES SECOND AMENDMENT TO FORM 10 REGISTRATION STATEMENT IN CONNECTION WITH PLANNED SPIN-OFF FROM SPIRIT REALTY CAPITAL Press Release on REIT's website DALLAS, May 4, 2018 /PRNewswire/ -- Spirit Realty Capital, Inc. (NYSE: SRC) ("Spirit" or the "Company") announced today that its subsidiary, Spirit MTA REIT ("SMTA"), has publicly filed with the U.S. Securities and Exchange Commission (the "SEC") a second amendment to its registration statement on Form 10 in connection with the previously announced spin-off of certain assets of the Company into SMTA and the subsequent distribution of SMTA's common shares of beneficial interest to the Company's common stockholders. A link to the filing can be found in the Investor Relations section of Spirit Realty Capital's website at www.spiritrealty.com.

About Spirit Realty Capital, Inc.


Spirit Realty Capital, Inc. (NYSE: SRC) is a premier net-lease real estate investment trust (REIT) that primarily invests in high-quality, operationally essential real estate, subject to long-term, net leases. Over the past decade, Spirit has become an industry leader and owner of income-producing, strategically located retail, industrial and office properties providing superior risk adjusted returns and steady dividend growth for our shareholders. As of June 30, 2017, our diversified portfolio was comprised of 2,549 properties, including properties securing mortgage loans made by the Company. Our properties, with an aggregate gross leasable area of approximately 51 million square feet, are leased to approximately 432 tenants across 49 states and 30 industries.