Ratios

		vs industry	vs history
P/B	1.53	SRC's P/B is ranked higher than 92% of the 249 Companies in the Global REIT - Diversified industry. ( Industry Median: 1.30 vs. SRC: 1.53 )	SRC' s 10-Year P/B Range Min: 0.36   Max: 1.55 Current: 1.53 0.36 1.55
P/S	5.49	SRC's P/S is ranked higher than 88% of the 249 Companies in the Global REIT - Diversified industry. ( Industry Median: 6.20 vs. SRC: 5.49 )	SRC' s 10-Year P/S Range Min: 4.6   Max: 6.93 Current: 5.49 4.6 6.93
EV-to-EBIT	-63.36	SRC's EV-to-EBIT is ranked lower than 92% of the 249 Companies in the Global REIT - Diversified industry. ( Industry Median: 28.60 vs. SRC: -63.36 )	SRC' s 10-Year EV-to-EBIT Range Min: 683.8   Max: 849.5 Current: -63.36 683.8 849.5

Dividend & Buy Back

		vs industry	vs history
Dividend Yield	2.85	SRC's Dividend Yield is ranked lower than 84% of the 249 Companies in the Global REIT - Diversified industry. ( Industry Median: 4.40 vs. SRC: 2.85 )	SRC' s 10-Year Dividend Yield Range Min: 1.65   Max: 3.4 Current: 2.85 1.65 3.4
Yield on cost (5-Year)	2.80	SRC's Yield on cost (5-Year) is ranked lower than 70% of the 249 Companies in the Global REIT - Diversified industry. ( Industry Median: 4.00 vs. SRC: 2.80 )	SRC' s 10-Year Yield on cost (5-Year) Range Min: 1.52   Max: 2.03 Current: 2.8 1.52 2.03
Share Buyback Rate	17.6	SRC's Share Buyback Rate is ranked higher than 95% of the 249 Companies in the Global REIT - Diversified industry. ( Industry Median: -7.50 vs. SRC: 17.6 )	SRC' s 10-Year Share Buyback Rate Range Min: 100   Max: -104.1 Current: 17.6

Valuation & Return

		vs industry	vs history
Price/Tangible Book	1.8	SRC's Price/Tangible Book is ranked lower than 84% of the 249 Companies in the Global REIT - Diversified industry. ( Industry Median: 1.30 vs. SRC: 1.8 )	SRC' s 10-Year Price/Tangible Book Range Min: 0.7   Max: 0.7 Current: 1.8
Price/Median PS Value	2.4	SRC's Price/Median PS Value is ranked lower than 70% of the 249 Companies in the Global REIT - Diversified industry. ( Industry Median: 1.10 vs. SRC: 2.4 )	SRC' s 10-Year Price/Median PS Value Range Min: 0.9   Max: 0.9 Current: 2.4

Business Description

Spirit Realty Capital, Inc. is a self-administered and self-managed real estate company. The Company was formed in 2003 and became a public company in December 2004. The Company invests in single-tenant, operationally essential real estate throughout the United States that is leased on a long-term, triple-net basis primarily to tenants engaged in retail, service and distribution industries. Single-tenant, operationally essential real estate consists of properties that are generally free-standing, commercial real estate facilities where its tenants conduct retail, service or distribution activities that are essential to the generation of their sales and profits. Under a triple-net lease, the tenant is typically responsible for all improvements and is contractually obligated to pay all property operating expenses, such as real estate taxes, insurance premiums and repair and maintenance costs. In support of its primary business of owning and leasing real estate, it has also strategically originated or acquired long-term, commercial mortgage and equipment loans. The Company's portfolio of 1,096 owned properties was leased to approximately 165 tenants as of June 30, 2012. The Company's tenants operate in 18 different industries, including: general, specialty and discount retail; restaurants; movie theaters; automotive dealers; educational and recreational facilities; and supermarkets. Currently, it leases 181 properties to Shopko/Pamida, 179 of which are leased pursuant to three master leases that, as of June 30, 2012, had a weighted average non-cancelable remaining lease term of approximately 13.3 years.
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Industry:	REIT - Diversified
Compare:	IVR, WSR, HRUFF, MFA, AMT

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