Spirit Realty Capital, Inc. Schedules First Quarter 2020 Earnings Release and Conference Call
NEW YORK, NY / ACCESSWIRE / May 5, 2020 / Spirit Realty Capital, Inc. (NYSE:SRC) will be discussing their earnings results in their 2020 First Quarter Earnings call to be held on May 5, 2020 at 5:30 PM ...
Spirit Realty Capital Inc. (SRC) forecasts funds from operations, a key profit measure of real estate investment trusts, to drop in the first quarter. The preliminary figures though are still in line with or may beat analyst estimates.For the quarter funds from operations on a per share basis are expected to be in the range of 77 cents to 79 cents, according to preliminary figures, versus the analyst consensus of 77 cents and down from 89 cents in the year-ago quarter.During the quarter, Spirit Realty made investments of about $213.4 million, including $205.9 million for the acquisition of 27 properties with an initial weighted average 6.47% cash yield and an 7.41% economic yield. In addition, the real estate investment trust said occupancy rates stood at 99.4%. Walgreens (WBA), Home Depot (HD) and Church’s Chicken are among the real estate trust’s top ten tenants.At the same time though, Spirit Realty said that it wasn’t able to provide fiscal guidance due to the uncertainty triggered by the coronavirus pandemic.“The work we have done at Spirit over the past two years has meaningfully transformed our portfolio and balance sheet and vastly improved our ability to understand and process data on a real-time basis,” said Jackson Hsieh, Spirit Realty’s President and Chief Executive Officer. “We look forward to discussing how we are positioning our company and using our tools and insights to navigate the COVID-19 pandemic.”As of April 10, Spirit Realty had $831.3 million in available assets under its 2019 credit facility and in cash and cash equivalents.Wall Street analysts have a Moderate Buy consensus rating on the stock based on 2 Holds and 1 Buy. The $42.50 average price target sees 45% upside potential in the shares in the coming 12 months. (See Spirit Realty stock analysis on TipRanks).During the first quarter, Spirit Realty generated $15.7 million in gross proceeds from the sale of seven properties, of which three were vacant, the trust said. As of the end of March, Spirit Realty’s portfolio comprised 1,772 owned properties and 43 properties securing mortgage loans. The real estate trust’s owned properties, with an aggregate gross leasable area of 36.1 million square feet, are leased to 298 tenants across 48 states and 28 retail industries.Related News: KB Home Declares Second-Quarter Cash Dividend The Race Continues for a COVID-19 Vaccine; 3 Healthcare Stocks to Watch Microsoft’s Bill Gates to Spend Billions of Dollars on Coronavirus Vaccine Development More recent articles from Smarter Analyst: * Gilead, oNKo-innate Look To Natural Killer Cells For New Cancer Treatment * Chipotle 1Q Sales Rise Fueled By Record Digital Sales Growth * Snap Quarterly Revenue Jumps 44% as Coronavirus Pandemic Boosts Snapchat Users; Shares Soar 20% in Pre-Market Trading * Exact Sciences Reports 63% Reduction For Cologuard Testing in April
Details the CEO buys this past week for the following companies: Ryman Hospitality Properties, OPKO Health, Keros Therapeutics and Spirit Realty Capital Continue reading...
Spirit Realty's (SRC) preliminary results for Q1 reflect high occupancy level at its properties.
Q1 2020 Spirit Realty Capital Inc Earnings Call
At this time, I would like to turn the conference over to Pierre Revol, SVP of Strategic Planning and IR. Presenting on today's call will be President and Chief Executive Officer, Mr. Jackson Hsieh; Mr. Michael Hughes, CFO; and Ken Heimlich, Head of Asset Management, will be available for Q&A. Before we get started, I would like to remind everyone that this presentation contains forward-looking statements.
Spirit Realty Capital, Inc. Provides April Rent Update
Spirit Realty's (SRC) latest move increases the credit capacity and strengthens its liquidity position to help the company fight the current crisis.
Spirit Realty Capital, Inc. Announces $200 Million Unsecured Term Loan Facility
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like...
Spirit Realty Capital, Inc. Schedules Preliminary First Quarter 2020 Earnings Release, Tenant Update and Conference Call
Spirit Realty Capital, Inc. Announces First Quarter of 2020 Financial and Operating Results
Spirit Realty Capital, Inc. Announces First Quarter of 2020 Preliminary Financial and Operating Results
Spirit Realty (SRC) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
Spirit Realty (SRC) delivered FFO and revenue surprises of 0.00% and -0.84%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
Spirit Realty Capital, Inc. Announces Quarterly Cash Dividend for Common and Preferred Stock
Spirit Realty Capital Inc. Announces $100 Million Incremental Term Loan Under Unsecured Term Loan Facility
Preliminary Q1 2020 Spirit Realty Capital Inc Earnings Call