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 (NYSE: SRC) will release its first quarter financial results after the market closes on May 3, 2022. An earnings conference call is scheduled for May 4 at 9:30 a.m. ET, available via phone and webcast. As of December 31, 2021, Spirit's portfolio included 2,003 properties across 49 states, nearly fully occupied at 99.8%. The company focuses on net-lease real estate, primarily single-tenant operationally essential assets.
Spirit Realty Capital, Inc. (NYSE: SRC) has released its inaugural Environmental, Social and Governance (ESG) Report for 2021, showcasing its commitment to sustainability and responsible practices. The report aligns with Sustainability Accounting Standards Board and Task Force on Climate-related Financial Disclosures. Key highlights include the addition of two female directors to the Board, a focus on diversity and inclusion, and over
Spirit Realty Capital, Inc. (NYSE: SRC) announced a quarterly cash dividend of $0.6380 per common share, set to be paid on April 14, 2022, to stockholders of record by March 31, 2022. This translates to an annualized rate of $2.552 per share. Additionally, a cash dividend of $0.3750 per share for the 6.00% Series A Cumulative Redeemable Preferred Stock will be distributed on March 31, 2022. Spirit Realty primarily invests in single-tenant, operationally essential real estate, maintaining a portfolio that was 99.8% occupied as of December 31, 2021.
Spirit Realty Capital (NYSE: SRC) reported strong fourth-quarter results for 2021, with net income per diluted share rising to $0.34 from $0.24 in 2020. The company achieved FFO per share of $0.88 and AFFO per share of $0.85, both reflecting significant growth. Spirit invested $487.9 million in acquisitions, enhancing its portfolio with 92 new properties. A quarterly dividend of $0.638 per common share was declared, payable January 14, 2022. The company maintains 2022 guidance with expected AFFO of $3.52 to $3.58.
Spirit Realty Capital (NYSE: SRC) announced the tax status of its 2021 dividends for common and preferred stock. The common stock dividends totaled
Spirit Realty Capital (NYSE: SRC) has announced the promotion of Rochelle Thomas to Executive Vice President, General Counsel, and Secretary. Thomas, previously Senior Vice President and Deputy General Counsel, now joins the Executive Leadership Team and Investment Committee, reporting to President and CEO Jackson Hsieh. Her experience includes advising on legal, corporate, and ESG matters, and she is recognized for her leadership in Spirit's Diversity Council. She takes over from Jay Young, who was appointed Chief Administrative Officer and Chief Legal Officer.
Spirit Realty Capital (NYSE: SRC) announced the pricing of an underwritten public offering of 8,200,000 shares of common stock at $47.60 per share.
The offering is tied to a forward sale agreement, with joint lead managers Morgan Stanley and BofA Securities. An option allows underwriters to purchase 1,230,000 additional shares within 30 days. Proceeds from future settlements are earmarked for property acquisitions and corporate purposes, including debt repayment.
Spirit Realty Capital (NYSE: SRC) announced a public offering of 6,500,000 shares of common stock, with a possible increase to 7,475,000 shares if the underwriters exercise their option. The offering will be managed by Morgan Stanley and BofA Securities. Proceeds will support property acquisitions and general corporate purposes. The company does not initially receive proceeds from shares sold by forward purchasers. The offering is conducted under an effective shelf registration statement with the SEC.
Spirit Realty Capital, Inc. (NYSE: SRC) will release its fourth quarter financial and operating results for the period ending December 31, 2021, after market close on February 14, 2022. An earnings conference call is scheduled for February 15, 2022, at 9:30 a.m. Eastern Time. As of September 30, 2021, Spirit owned 1,915 properties across 48 states, totaling 46.7 million square feet and leased to 312 tenants in over 35 industries. The company focuses on net-lease real estate investments.
Spirit Realty Capital (NYSE: SRC) released its preliminary estimates for 2021 and guidance for 2022, highlighting strong capital deployment and growth in acquisitions. For Q4 2021, the expected AFFO per share ranges from $0.84 to $0.85, with an annual estimate of $3.30 to $3.31. The company invested $487.9 million in Q4 and $1.3 billion for the year. Guidance for 2022 includes an AFFO per share of $3.52 to $3.58, with capital deployment projected between $1.3 billion to $1.5 billion. Corporate liquidity stood at $532.1 million as of December 31, 2021.
FAQ
What is the market cap of Spirit Realty Capital (SRC)?
What does Spirit Realty Capital, Inc. specialize in?
How large is Spirit Realty Capital's investment portfolio?
What recent major transaction has Spirit Realty Capital been involved in?
When is the Spirit Realty and Realty Income merger expected to be completed?
What benefits are expected from the merger between Spirit Realty and Realty Income?
Where can I find more information about Spirit Realty Capital?
What is the current occupancy rate of Spirit Realty Capital's properties?
How flexible are Spirit Realty’s lease structures?
What industries do Spirit Realty Capital's tenants operate in?
What distinguishes Spirit Realty Capital from other REITs?
