April 22, 2018 2:30 PM ET

Equity Real Estate Investment Trusts (REITs)

Company Overview of Spirit Realty Capital, Inc.

Company Overview

Spirit Realty Capital, Inc. (NYSE:SRC) is a premier net lease real estate investment trust (REIT) that primarily invests in high-quality, operationally essential retail real estate, subject to long-term, net leases. Over the past decade, Spirit has become an industry leader and owner of income-producing, strategically located retail, industrial and office properties providing superior risk adjusted returns and steady dividend growth for our shareholders.

2727 North Harwood Street

Suite 300

Dallas, TX 75201

United States

Founded in 2003

87 Employees

Phone:

972-476-1900

Fax:

800-973-0850

Key Executives for Spirit Realty Capital, Inc.

President, CEO & Director
Age: 57
Total Annual Compensation: $1.2M
General Counsel, Executive Vice President and Secretary
Age: 47
Total Annual Compensation: $330.2K
Compensation as of Fiscal Year 2016.

Spirit Realty Capital, Inc. Key Developments

Spirit Realty Capital, Inc. Names Michael Hughes as Executive Vice President and Chief Financial Officer, Effective April 1, 2018

Spirit Realty Capital, Inc. announced that Michael Hughes has been named to the position of Executive Vice President and Chief Financial Officer. Mr. Hughes will join the Company on April 1, 2018 and work with outgoing Chief Financial Officer Phil Joseph to transition the role. Most recently, Mr. Hughes was Executive Vice President, Chief Financial Officer at FelCor Lodging Trust, where he managed corporate finance, treasury, strategic planning, investor relations, IT, accounting, tax, human resources and risk management, from 2013 through the close of the company's merger in 2017.

Spirit Realty Capital, Inc. Declares Quarterly Cash Dividend on Common Share and Preferred Share, Payable on April 13, 2018 and March 30, 2018 Respectively

Spirit Realty Capital, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.18 per common share, representing an annualized rate of $0.72 per common share. Shareholders of record as of March 30, 2018 will receive the $0.18 cash dividend on April 13, 2018. The board of directors also declared a quarterly cash dividend of $0.3750 per share of the company's 6.00% Series A Cumulative Redeemable Preferred Stock. Shareholders of record as of March 15, 2018 will receive the $0.3750 cash dividend on March 30, 2018.

Spirit Realty Capital, Inc. Announces Executive Changes

Spirit Realty Capital, Inc. announced that, in a mutually agreed upon decision, the Company would not be renewing its employment agreement with Phil Joseph, Executive Vice President, Chief Financial Officer and Treasurer, upon its expiration on April 20, 2018. Mr. Joseph will remain with the Company through the end of his contract, and the Company has been working with an executive search firm to find a new Chief Financial Officer. There are no issues involving the Company's financial statements, internal controls or financial reporting procedures that led to Mr. Joseph's departure. Additionally, the Company announced that Boyd Messmann, Executive Vice President and Chief Acquisitions Officer, is departing the company. Mr. Messmann will be succeeded by Daniel Rosenberg who has been promoted to Senior Vice President, Acquisitions. Mr. Rosenberg has been with the Company for more than 10 years, most recently serving as Senior Vice President, Asset Management and Head of the Direct Sale-Leaseback Team.

Similar Private Companies By Industry

Company Name Region
American Realty Capital Healthcare Trust III, Inc. United States
Arden Realty LP United States
Aspen REIT, Inc. United States
California Properties Fund United States
Camden Summit Partnership, L.P. United States

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
August 18, 2017
Site at 4499 Fisher Road
Buyback
August 14, 2017
--
Merger/Acquisition
August 3, 2017
45 Properties
\
 

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