Spirit Realty Capital Inc is a real estate investment trust primarily involved in leasing properties throughout the U.S. Spirit Realty’s core business is acquiring real estate through sale-leaseback transactions in which a tenant will sell their property to Spirit and then lease that same property back from Spirit through a prearranged, long-term agreement. Spirit generates nearly all of its revenue in the form of rental income derived from leasing assets in its real estate portfolio. The vast majority of this portfolio is composed of retail properties. General merchandise companies, casual dining chains, and quick service restaurant chains represent significant amounts of Spirit’s rental income. The company’s real estate assets are fairly evenly distributed throughout the U.S.