Spirit Realty falls on share offering

Spirit Realty Capital

13/01/2022 21:28

** Spirit Realty Capital  SRC.N  shares down ~4.4% in
extended trading as co looks to raise equity
    ** Net lease retail REIT launches 6.5 mln share offering
 urn:newsml:reuters.com:*:nBw61JThHa
    ** Co enters into 18-month forward sale agreements with
Morgan Stanley and BofA; upon settlement of such agreements, co
to use proceeds to fund potential property acquisitions and for
general corp purposes
    ** SRC has ~123.3 mln shares outstanding for ~$6.1 bln
market cap, per Refinitiv data
    ** Stock closed Thurs up 0.8% at $49.55. Shares up 2.8% YTD,
adding to 20% gain in 2021
    ** Avg rating among 17 analysts covering SRC is 'buy' and
median PT is $53 - Refinitiv

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))