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MarketBeat ‘Stock of the Week’: Spirit Realty deal rattles REITs

Written by MarketBeat Staff
November 6, 2023

Key Points

  • Realty Income announced a plan to merge with Spirit Realty in a $9.3 billion all-stock deal that would combine two of the country’s largest real estate financing groups.
  • The timing of the deal coincided well with last week’s Fed decision to keep benchmark interest rates as they are, offering a big sigh of relief for REIT shareholders.
  • Truist reiterated its buy rating for Spirit Realty and gave a revised $45.00 price target, while other revised Wall Street targets are in the low $40’s post-announcement.
  • MarketBeat previews the top five stocks to own by April 1st.
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Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Spirit Realty Capital (SRC)N/A$42.31-1.6%6.33%24.18N/AN/A
Realty Income (O)
3.5992 of 5 stars		$56.61+0.8%5.69%53.91Hold$62.04
Simon Property Group (SPG)
3.2774 of 5 stars		$164.21-1.0%5.12%22.62Hold$180.33
Walgreens Boots Alliance (WBA)
3.5337 of 5 stars		$11.19+0.3%8.94%-1.09Reduce$10.59
Dollar Tree (DLTR)
3.521 of 5 stars		$72.75-5.5%N/A-15.25Hold$83.42
BJ's Wholesale Club (BJ)
2.7571 of 5 stars		$111.86-0.5%N/A26.89Moderate Buy$108.71
Dave & Buster's Entertainment (PLAY)
3.9776 of 5 stars		$18.87-4.8%3.39%9.34Hold$46.67
Dollar General (DG)
4.1851 of 5 stars		$86.03-1.7%2.74%14.17Hold$92.26
At Home Group (HOME)
0.2549 of 5 stars		$36.99flatN/A14.74N/AN/A
3M (MMM)
4.229 of 5 stars		$144.74-2.5%2.02%19.17Moderate Buy$149.13
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