Spirit Realty Capital (SRC) Misses Q2 EPS by 2c

Spirit Realty Capital (NYSE: SRC) reported Q2 EPS of $0.05, $0.02 worse than the analyst estimate of $0.07.

• Generated Net Income of $0.05 per share and AFFO of $0.21 per share, including $4.2 million in cash severance charges.
• Acquired nine properties for $92.8 million.
• Disposed of 48 properties for $109.6 million, including 15 vacant and non-income producing properties for $11.7 million and five properties leased to Shopko for $25.5 million.
• Completed authorized $200 million share repurchase program at a weighted average price of $7.59 per share and reduced pre-buy back share count by 5.4%.
• Engaged financial advisers Morgan Stanley, Moelis and Company and legal adviser Latham & Watkins LLP to advise on capital structure, asset optimization and validation of Path Forward plan.

For earnings history and earnings-related data on Spirit Realty Capital (SRC) click here.

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