Shares of Spirit Realty Capital Inc. (NYSE:SRC) traded at a new 52-week high today of $48.95. This new high was reached on below average trading volume as 85,000 shares traded hands, while the average 30-day volume is approximately 660,000 shares.
Spirit Realty Capital Inc is a real estate investment trust primarily involved in leasing properties throughout the U.S. Spirit Realty’s core business is acquiring real estate through sale-leaseback transactions in which a tenant will sell their property to Spirit and then lease that same property back from Spirit through a prearranged, long-term agreement. Spirit generates nearly all of its revenue in the form of rental income derived from leasing assets in its real estate portfolio. The vast majority of this portfolio is composed of retail properties. General merchandise companies, casual dining chains, and quick service restaurant chains represent significant amounts of Spirit’s rental income.
Over the past year, Spirit Realty Capital Inc. has traded in a range of $28.34 to $48.95 and is now at $48.95, 73% above that low.
Based on a current price of $48.95, Spirit Realty Capital Inc. is currently 47.2% above its average consensus analyst price target of $25.86.
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