November 22, 2024 4:01 pm
Facebook Twitter Youtube Instagram Linkedin
Rose Law Group

Spirit Realty Capital’s stock downgraded shortly after merger with Cole

Spirit realtyBy Kristena Hansen | Phoenix Business Journal

A Wall Street analyst group downgraded the stock of Scottsdale-based Spirit Realty Capital Inc. (NYSE: SRC) on Monday, expressing its concern over the real estate investment trust’s recent merger with Phoenix-based Cole Credit Property Trust II.

Stifel, Nicolaus & Co. downgraded the REIT’s stock from “buy” to “hold” and removed its price target of $18.50, according to an article by Benzinga.com. The downgrade comes several weeks after Spirit and Cole announced the merger plans on Jan. 22, which prompted another analyst group, Raymond James, to upgrade Spirit’s stock from a “market perform” rating to an “outperform” rating in a research note to investors the following day, according to an article by JagsReport.com.

Spirit’s stock closed at $20.07 per share on Monday, down only 4 cents, 0.2 percent, from the previous trading day, according to Yahoo Finance. The 52-week range is $14.76-$20.25.

Continued:

If you’d like to discuss real estate matters, contact RLG founder Jordan Rose, jrose@roselawgroup.com

Share this!

Additional Articles
News Categories

Get Involved

Stay Informed

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

learn more

Recent Articles

Post Calendar

February 2013
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728  
Rose-Law-Group-RCF-Logo-FINAL-LG-png.png
Facebook Twitter Youtube Instagram Linkedin
© 2024 Rose Law Group Reporter

Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.