| Thursday | ||||
Jefferies analyst Linda… Jefferies analyst Linda Tsai lowered the firm's price target on Spirit Realty to $40 from $44 and keeps a Hold rating on the shares. Tsai and the team believe REITs underperforming in a looming recession is "not a given," noting that real estate demonstrated "robust returns" during past stagflation periods. The analysts, who are making a number of price target and rating changes among their REITS coverage, recommend property types with rent inflation potential to offsets occupancy pressures, such as Industrial, Storage, Residential, DCs, Towers, and Senior Housing. | ||||
| Over a month ago | ||||
Truist analyst Ki Bin Kim… Truist analyst Ki Bin Kim lowered the firm's price target on Spirit Realty to $52 from $56 and keeps a Buy rating on the shares as part of a broader research note on REITs, adjusting his model based on Q1 results, recent events, as well as revenue growth and expense assumptions. | ||||
JMP Securities analyst… JMP Securities analyst Mitch Germain initiated coverage of Spirit Realty with an Outperform rating and $54 price target as part of a broader research note launching coverage on REITs. As part of its operating portfolio upgrade, the company company has better diversified cash flows by reducing tenant and industry concentrations, grown both industrial and investment-grade exposures, and materially improved the balance sheet by expanding the pool of unencumbered properties and lowering net debt/EBITDA ratio, the analyst tells investors in a research note. | ||||
The Company maintained… The Company maintained its previously announced AFFO per share guidance for fiscal year 2022 and updated its capital deployment and disposition guidance for fiscal year 2022: Capital deployment of approximately $1.5 billion; Dispositions of approximately $200 million to $300 million. | ||||
"Our company… "Our company continued to perform exceptionally well in the first quarter, with our investment platform executing effectively in a competitive market. As we look forward, we believe our underwriting approach, coupled with our recently enhanced balance sheet, will allow us to pursue compelling risk adjusted return opportunities. Finally, I would like to thank the employees of Spirit who continue to make positive impacts in our workplace and communities, as highlighted in our recently issued sustainability report," stated Jackson Hsieh, President and CEO. | ||||
| Over a quarter ago | ||||
Meetings to be held in… Meetings to be held in Boston on March 22 and in New York on March 23 hosted by Truist. | ||||
Meetings to be held in… Meetings to be held in Boston on March 22 and in New York on March 23 hosted by Truist. | ||||
Meetings to be held in… Meetings to be held in Boston on March 22 and in New York on March 23 hosted by Truist. | ||||
Backs FY22 capital… Backs FY22 capital deployment view $1.3B-$1.5B. | ||||
"We had a great… "We had a great finish to the year, and I am especially proud of our acquisitions platform, which has really hit its stride. As we enter 2022, our portfolio, balance sheet and systems are extremely well positioned to capitalize on the many opportunities we see in the market that meet our rigorous underwriting criteria," stated Jackson Hsieh, President and Chief Executive Officer. | ||||
