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) announced a quarterly cash dividend of $0.6380 per common share, with an annualized rate of $2.552 per share, payable on January 14, 2022 to stockholders of record as of December 31, 2021. Additionally, a dividend of $0.3750 per share was declared for its 6.00% Series A Cumulative Redeemable Preferred Stock, payable on December 31, 2021. The REIT holds a diverse portfolio of 1,915 properties across 48 states, leased to 312 tenants across various industries.
Spirit Realty Capital reported strong financial results for Q3 2021, with net income reaching $0.32 per share, FFO at $0.87, and AFFO at $0.84. The company invested $294.2 million in acquisitions, purchasing 31 properties with a 7.27% initial cash yield. Spirit also generated $7.6 million from the sale of three vacant properties. The firm issued 4.2 million shares for $190.9 million and maintained a solid occupancy rate of 99.7%. Additionally, a credit rating upgrade from Moody’s to Baa2 reflects improved financial health. A quarterly cash dividend of $0.638 per share was declared.
Spirit Realty Capital, Inc. (NYSE: SRC) will release its third-quarter financial results for 2021 after market closure on November 2, 2021. The earnings conference call is set for November 3, 2021, at 9:30 a.m. ET. As of June 30, 2021, Spirit owned 1,887 properties across 48 states, covering 45.3 million square feet, leased to 306 tenants in over 28 industries. The company primarily invests in single-tenant, operationally essential real estate assets, thereby maintaining a diversified portfolio.
Spirit Realty Capital (SRC) reported strong Q2 2021 results, featuring a 2% increase in its quarterly common stock cash dividend to $0.638 per share, leading to an annualized rate of $2.552. The company achieved a net income of $0.74 per share compared to a loss in the prior year, with FFO at $1.00 and AFFO at $0.86. Investments totaled $283.7 million for 18 properties, with a weighted average cash yield of 7.07%. Spirit also raised its AFFO guidance for 2021 to $3.24 to $3.30 per share.
Spirit Realty Capital (NYSE: SRC) will release its Q2 2021 financial and operational results on August 3, 2021, after market close. A conference call is scheduled for August 4, 2021, at 9:30 a.m. ET. Spirit specializes in net lease real estate, focusing on single-tenant, operationally essential properties. As of March 31, 2021, Spirit's portfolio included 1,880 properties across 48 states, covering 42.9 million square feet and leasing to 301 tenants in 28 retail sectors.
Spirit Realty Capital (NYSE: SRC) declared a quarterly cash dividend of $0.625 per common share, amounting to an annualized rate of $2.50. Record holders as of June 30, 2021, will receive their dividends on July 15, 2021. Additionally, a quarterly cash dividend of $0.3750 per share was declared for the Company’s 6.00% Series A Cumulative Redeemable Preferred Stock, payable on June 30, 2021. As of March 31, 2021, Spirit owned 1,880 properties across 48 states, emphasizing its substantial presence in essential real estate.
Spirit Realty Capital (NYSE: SRC) reported its Q1 2021 results, highlighting significant acquisitions and financial strategies. The company invested $191.5 million in 25 properties with an initial yield of 7.57%. Despite a net loss of $(0.04) per share, improved operational metrics included a 99.5% occupancy rate. The company announced a quarterly dividend of $0.625 per common share and raised its AFFO guidance for 2021 to $3.06 to $3.14 per share. Corporate liquidity stood at $1.3 billion as of March 31, 2021.
Spirit Realty Capital, a net lease REIT, will release its financial results for Q1 2021 on May 5, 2021, after market close. An earnings conference call is scheduled for May 6, 2021, at 9:30 a.m. ET. The company holds a diverse portfolio of 1,860 properties across 48 states, covering 40.7 million square feet. These assets are leased to 301 tenants in various retail sectors. Spirit Realty emphasizes its focus on operationally essential real estate, maintaining a robust strategy despite market volatilities.
Spirit Realty Capital, Inc. (NYSE: SRC) has declared a quarterly cash dividend of $0.625 per common share, reflecting an annualized rate of $2.50. Shareholders on record as of March 31, 2021 will receive the dividend on April 15, 2021. 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, 2021. As of December 31, 2020, SRC’s portfolio includes 1,860 properties across 48 states, covering 40.7 million square feet with 301 tenants.
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