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 announced a quarterly cash dividend of $0.663 per common share, with an annualized rate of $2.652, payable on January 13, 2023. Shareholders of record by December 30, 2022 will receive this dividend. Additionally, a quarterly cash dividend of $0.3750 per share will be paid to holders of the 6.00% Series A Preferred Stock on December 30, 2022. As of September 30, 2022, Spirit's portfolio included 2,118 properties, achieving 99.8% occupancy across 49 states.
Spirit Realty Capital, Inc. (NYSE: SRC) reported strong financial results for Q3 2022, with a net income of $0.54 per share, up from $0.32 year-over-year. The company increased its quarterly common stock dividend by 3.9% to $0.663 per share. Spirit invested $268.4 million in acquisitions and capital expenditures, achieving a cash capitalization rate of 6.86%. Additionally, gross proceeds from property dispositions totaled $74.3 million, with a disposition capitalization rate of 5.70%. The company maintains a robust occupancy rate of 99.8% and strong liquidity of $1.3 billion.
Spirit Realty Capital, Inc. (NYSE: SRC) announced its third quarter financial results will be released after market close on November 8, 2022. A conference call is scheduled for November 9 at 9:30 AM ET for discussions on earnings and operational performance. The company, specializing in net-lease real estate, boasted a portfolio of 2,078 properties, approximately 99.8% occupied as of June 30, 2022, across 49 states. Spirit continues to focus on single-tenant, operationally essential real estate, ensuring stable income streams.
Spirit Realty Capital (NYSE: SRC) has announced the closing of a new $800 million unsecured term loan facility. The loan consists of a $300 million tranche maturing on August 22, 2025, and a $500 million tranche maturing on August 20, 2027. An accordion feature allows for an increase of up to $200 million, capping the total at $1 billion. The average interest rate for the loan is fixed at 3.50%, achieved through prior interest swap agreements. This financing aims to bolster Spirit's balance sheet and support growth initiatives.
Spirit Realty Capital (NYSE: SRC) has announced an increase in its quarterly cash dividend from $0.638 to $0.663 per share, a 3.9% rise, effective from October 14, 2022. This translates to an annualized dividend rate of $2.652 per share. Record shareholders as of September 30, 2022 will benefit from this increase. Additionally, the Company declared a quarterly cash dividend of $0.3750 per share for its Series A Preferred Stock, payable on September 30, 2022.
Spirit Realty Capital, Inc. (NYSE: SRC) reported its Q2 2022 results with a net income per share of $0.60, a decline from $0.74 YoY. FFO per share decreased to $0.92 from $1.00, and AFFO per share rose slightly to $0.90 from $0.86. The company invested $416.6 million in acquisitions and generated $103.3 million from property dispositions. As of June 30, 2022, Spirit maintained a strong occupancy rate of 99.8% and corporate liquidity of $594.3 million. The Board declared a quarterly dividend of $0.638 per share. Guidance for 2022 remains unchanged with an AFFO projection of $3.52 to $3.58.
Spirit Realty Capital, Inc. (NYSE: SRC) will release its financial and operating results for Q2 2022 after market close on August 3, 2022. A conference call is scheduled for August 4, 2022, at 9:30 AM ET. Spirit primarily invests in single-tenant, operationally essential properties, boasting a portfolio of 2,039 properties with a 99.8% occupancy rate, leased to 334 tenants across 35 industries as of March 31, 2022. The company emphasizes its focus on long-term leases and operational efficiency.
Spirit Realty Capital, Inc. (NYSE: SRC) declared a quarterly cash dividend of $0.6380 per common share on May 18, 2022, with an annualized rate of $2.552. Stockholders as of June 30, 2022 will receive the dividend on July 15, 2022. Additionally, a cash dividend of $0.3750 per share was declared for its 6.00% Series A Preferred Stock, payable to record holders by June 30, 2022. The company's portfolio as of March 31, 2022, included 2,039 properties, achieving 99.8% occupancy.
Spirit Realty Capital (NYSE: SRC) reported strong Q1 2022 results, achieving net income of $0.42 per share, a significant turnaround from a net loss of $(0.04) per share. The company generated FFO and AFFO per share of $0.95 and $0.88, respectively. Spirit invested $511.4 million in acquisitions, closing 29 transactions with an average lease term of 13.3 years. The firm secured a $1.2 billion revolving credit facility and issued 6.6 million shares for $299.8 million. With strong occupancy at 99.8%, Spirit declared a quarterly cash dividend of $0.638 per share. Fiscal 2022 AFFO guidance remains at $3.52 to $3.58.
Spirit Realty Capital (NYSE: SRC) has successfully closed a $1.2 billion multicurrency unsecured revolving credit facility, increasing its prior $800 million facility. This amended facility matures in March 2026 with an option to extend to March 2027. The interest rate is set between 72.5 to 140 basis points over the adjusted SOFR rate. The facility may also include ESG-linked pricing reductions based on achieving specific targets. Fifteen lenders participated, including JP Morgan Chase and Wells Fargo Securities.
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