Welcome to our dedicated page for Spirit Realty Capital news (Ticker: SRC), a resource for investors and traders seeking the latest updates and insights on Spirit Realty Capital stock.
Spirit Realty Capital, Inc. (NYSE: SRC) is a publicly traded triple net lease real estate investment trust (REIT), recognized as one of the largest in the United States. Established in 2003 and headquartered in Dallas, Texas, Spirit Realty manages a diverse and extensive portfolio valued at approximately $8.2 billion. This portfolio includes over 2,600 properties leased to more than 430 tenants across 30 different industries and 49 states. The company's diverse client base ranges from well-known retail brands to special-use, office, and industrial facilities.
Spirit Realty Capital is known for its proven growth strategy and exceptional ability to create value even during challenging economic cycles. The company's approach combines time-tested investment and portfolio strategies with advanced data analysis to monitor industry trends and manage risks effectively. Spirit's focus on key real estate metrics enables it to offer some of the most competitive leasing rates in the country, with flexible lease structures tailored to meet tenant needs.
Recently, Spirit Realty Capital announced its definitive merger agreement with Realty Income Corporation (NYSE: O) valued at approximately $9.3 billion. This all-stock transaction is expected to enhance Realty Income's size, scale, and diversification, leading to an enterprise value of around $63 billion for the combined entity. Under the terms of the merger, Spirit shareholders will receive 0.762 newly-issued Realty Income common shares for each Spirit common share they own. The merger is anticipated to close in the first quarter of 2024, subject to customary conditions including Spirit shareholders' approval. This strategic move aims to deliver immediate and meaningful earnings accretion, broaden tenant diversification, and leverage economies of scale.
Spirit Realty Capital has consistently maintained a high occupancy rate, with its properties being approximately 99.8% occupied as of June 30, 2023. The company’s leadership emphasizes enhancing tenant quality and asset diversification, deploying advanced analytical tools, and maintaining a robust balance sheet with well-laddered maturities and below-market fixed debt costs.
The company’s commitment to excellence and strategic growth has positioned it as a premier REIT in the Dallas metro area and a significant player in the national real estate market. More information on Spirit Realty Capital can be found on their official website.
Spirit Realty Capital, Inc. (NYSE: SRC) will announce its first quarter financial results for the period ended March 31, 2023, after market close on May 3, 2023. A conference call and audio webcast to discuss these results will take place on May 4, 2023, at 9:30 a.m. Eastern Time. As of December 31, 2022, Spirit's portfolio included 2,115 properties across 49 states, with a remarkable occupancy rate of approximately 99.9%. Spirit specializes in single-tenant, operationally essential real estate, making it a significant player in the net-lease REIT sector. More information can be accessed through their investor relations page at www.spiritrealty.com.
Spirit Realty Capital (NYSE: SRC) reported solid financial results for Q4 2022, with a net income per share of $0.48, up from $0.34 year-over-year. The Funds from Operations (FFO) per share was $0.87, while the Adjusted FFO (AFFO) per share was $0.88, slightly increasing from $0.85 in the previous year. The company invested $350.8 million in property acquisitions and generated $134.8 million from divestitures. Maintaining a robust occupancy rate of 99.9%, Spirit also declared a quarterly cash dividend of $0.663 per common share. For 2023, the company expects AFFO per share guidance of $3.53 to $3.59.
Spirit Realty Capital, Inc. (NYSE: SRC) announced a quarterly cash dividend of $0.663 per common share, equating to an annualized rate of $2.652. Stockholders on record as of March 31, 2023, will receive the dividend on April 14, 2023. Additionally, a dividend of $0.3750 per share was declared for holders of the 6.00% Series A Cumulative Redeemable Preferred Stock, payable on March 31, 2023, to record holders as of March 15, 2023. The company's diverse portfolio includes 2,118 properties across 49 states, with an occupancy rate of approximately 99.8%.
Spirit Realty Capital (NYSE: SRC) is set to disclose its fourth quarter financial results for the period ending December 31, 2022, on February 28, 2023, before market opens. An earnings conference call will follow at 9:30 a.m. ET on the same day. As of September 30, 2022, Spirit's portfolio included 2,118 properties across 49 states with an impressive occupancy rate of approximately 99.8%, serving 346 tenants in 34 industries. The Company is a leading net-lease real estate investment trust focusing on operationally essential real estate assets leased long-term.
Spirit Realty Capital (NYSE: SRC) announced the tax allocation for its 2022 dividends for common and preferred stock. The common stock dividends of $0.663 per share, paid on January 13, 2023, with a record date of December 30, 2022, will be allocated to the 2023 tax year. Total dividends for common stock reached $2.577 per share, with ordinary dividends of $2.412254. For preferred stock, a total of $1.500000 was declared, with ordinary dividends at $1.436636. Investors are advised to consult tax advisors regarding specific tax treatments concerning their SRC holdings.
Spirit Realty Capital (NYSE: SRC) has secured a new, unsecured term loan facility totaling
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