🇺🇸 Initial purchase #1 in October '22 🇺🇸
Hello everyone 🙋♂️. There is another new acquisition in the depot since a few weeks!
➡️ 70 shares of Spirit Realty Capital (SRC) are available at 36.32 USD per share are new in the portfolio.
➡️ Once again there is a new addition to the portfolio and unsurprisingly it is a REIT.
➡️ Spirit Realty is a Net Lease REIT, similar to Realty Income but much smaller and extremely diversified. As of today, the company owns 2,078 properties that are leased to 342 tenants.
➡️ The Net Lease Subsector is home to many companies that have super dividend continuity and growth. This is also true for $SRCwhich even during the pandemic had more than 99% occupancy (currently 99.8%).
➡️ P/FFO is currently 10.44x, which is well below the sector average. Dividend was just raised by 3.9% in August and AFFO is expected to grow in the high single digits.
➡️ Of course, there is also a nice dividend yield of 7%.