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Last $9.82 USD
Change Today -0.09 / -0.91%
Volume 3.5M
SRC On Other Exchanges
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As of 8:04 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

spirit realty capital inc (SRC) Key Developments

Spirit Realty Capital, Inc. Announces Amendment of Bylaws

On the Effective Date, pursuant to authorization of the Board as permitted by the Maryland General Corporation Law and Spirit Realty Capital, Inc.'s bylaws, the Company amended its bylaws to clarify the voting standards applicable to the election of directors, providing for directors to be elected by a plurality of the votes cast at any meeting of stockholders if the number of director candidates nominated for election at such meeting exceeds the number of directors to be elected due to a stockholder nomination of a candidate for election in a notice submitted in accordance with the Bylaws, and providing for majority of votes cast standards at any meeting of stockholders where no such contested election exist; and identify certain courts in Maryland as the sole and exclusive forum for any derivative action or proceeding brought on behalf of the Company, any action asserting a claim of breach of duties owed by any director, officer or other employee of the Company to the Company or the Company's stockholders, any action asserting a claim arising pursuant to any provision of the Maryland General Corporation Law or the Company's charter or bylaws, or any action asserting a claim governed by the internal affairs doctrine.

Spirit Realty Capital, Inc. Announces the Resignation of Michael A. Bender as Executive Vice President, Chief Accounting Officer and Assistant Treasurer

on august 27, 2015, Spirit Realty Capital, Inc. entered into a transition and separation agreement with Michael A. Bender, who resigned as executive vice president, chief accounting officer and assistant treasurer on the effective date, and will continue his employment with the company in a non-executive role until January 15,2016.

Spirit Realty Capital, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Reports Impairment for the Second Quarter Ended June 30, 2015; Revises Earnings Guidance for the Year 2015

Spirit Realty Capital, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total revenues of $167,934,000 against $151,789,000 a year ago. Loss from continuing operations before income tax expense was $2,132,000 against $88,775,000 a year ago. Loss from continuing operations was $2,293,000 or $0.14 per basic and diluted share against $88,902,000 or $0.24 per basic and diluted share a year ago. Net income attributable to common stockholders was $60,891,000 or $0.14 per basic and diluted share against net loss of $89,821,000 or $0.24 per basic and diluted share a year ago. Adjusted funds from operations (AFFO) for the three months ended June 30, 2015 increased 20.7% to $95.0 million, or $0.22 per diluted share, compared to $78.7 million, or $0.20 per diluted share, for the same period in 2014. Funds from operations for the three months ended June 30, 2015 increased to $96.0 million, or $0.22 per diluted share, compared to $78.6 million, or $0.20 per diluted share. Adjusted funds from operations were $78,722,000 or $0.20 per diluted share against $37,037,000 or $0.24 per diluted share a year ago. For the six months, the company reported total revenues of $330,221,000 against $295,761,000 a year ago. Profit from continuing operations before income tax expense was $11,991,000 against income from continuing operations before income tax expense of $79,088,000 a year ago. Profit from continuing operations was $11,468,000 or $0.20 per basic and diluted share against loss from continuing operations $79,432,000 or $0.21 per basic and diluted share a year ago. Net income attributable to common stockholders was $86,215,000 or $0.20 per basic and diluted share against net loss of $75,582,000 or $0.20 per basic and diluted share a year ago. Funds from operations increased to $177.7 million, or $0.42 per diluted share, compared to $153.3 million, or $0.41 per diluted share. For the six months ended June 30, 2015, AFFO increased 19.0% to $182.5 million, or $0.43 per diluted share, compared to $153.3 million, or $0.41 per diluted share. The company is increasing its 2015 AFFO guidance range to $0.85 to $0.87 per share, from its previously announced 2015 AFFO guidance range of $0.84 - $0.86. The new AFFO guidance range equates to anticipated net income (excluding non-recurring items that are not reflective of ongoing operations) of $0.23 to $0.25 per share plus $0.61 per share of expected real estate depreciation and amortization plus approximately $0.01 per share related to non-cash items and real estate transaction costs. For the second quarter ended June 30, 2015, the company reported impairment charges of $33.766 million against $27.627 million a year ago.

Spirit Realty Capital Mulls Investments

Spirit Realty Capital, Inc. (NYSE:SRC) is seeking investments. Tom Nolan, Chairman and Chief Executive Officer of Spirit Realty Capital, said, “We continue to execute on what we believe is a proven investment strategy, acquiring a diverse group of net leased properties that are operationally essential to our tenants, principally middle-market in terms of credit underwriting in well located geographic areas and across various industries. The market for net leased properties while still competitive, is essentially unchanged from last quarter and we continue to underwrite attractive acquisition opportunities that are in line with our disciplined underwriting.”

Spirit Realty Capital, Inc. to Report Q2, 2015 Results on Aug 06, 2015

Spirit Realty Capital, Inc. announced that they will report Q2, 2015 results at 5:00 PM, US Eastern Standard Time on Aug 06, 2015

 

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