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Should You Now Consider Buying Spirit Realty Capital (SRC) Shares?


Bernzott Capital Advisors, an investment management firm, published its “US Small Cap Value Fund” third-quarter 2022 investor letter – a copy of which can be downloaded here. During the third quarter of the year, the portfolio fell –9.48% (net), below the R2000V’s decline of –4.6% and the R2500V’s decline of –4.5%. Try to spare some time to check the fund’s top 5 holdings for you to have an idea about their best stock picks this 2022.

In its Q3 2022 investor letter, Bernzott Capital Advisors US Small Cap Value Fund mentioned Spirit Realty Capital, Inc. (NYSE:SRC) and explained its insights for the company. Founded in 2003, Spirit Realty Capital, Inc. (NYSE:SRC) is a Dallas, Texas-based real estate investment trust company with a $5.7 billion market capitalization. Spirit Realty Capital, Inc. (NYSE:SRC) delivered a -14.34% return since the beginning of the year, while its 12-month returns are down by -12.45%. The stock closed at $41.28 per share on November 23, 2022.

Here is what Bernzott Capital Advisors US Small Cap Value Fund has to say about Spirit Realty Capital, Inc. (NYSE:SRC) in its Q3 2022 investor letter:

Spirit Realty Capital (NYSE:SRC): The triple net-lease REIT invests in single-tenant, operationally essential assets. It owns approximately 2,000 properties with tenants in service retail and industrial, and to a lesser extent, discretionary retail. It enjoys high occupancy with long term leases and stable rent growth. Relative to its triple net peers, it has both a lower payout ratio and a higher yield, currently 7.3%.”


Our calculations show that Spirit Realty Capital, Inc. (NYSE:SRC) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Spirit Realty Capital, Inc. (NYSE:SRC) was in 19 hedge fund portfolios at the end of the second quarter of 2022, compared to 19 funds in the previous quarter. Spirit Realty Capital, Inc. (NYSE:SRC) delivered a -2.34% return in the past 3 months.

In (date of publication), we also shared another hedge fund’s views on Spirit Realty Capital, Inc. (NYSE:SRC) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q3 page.


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Disclosure: None. This article is originally published at Insider Monkey.

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