Cullen Frost Bankers Inc. Acquires New Stake in Vereit Inc. (VER)

Cullen Frost Bankers Inc. acquired a new stake in Vereit Inc. (NYSE:VER) during the second quarter, Holdings Channel reports. The firm acquired 24,464 shares of the company’s stock, valued at approximately $248,000.

Other large investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Vereit during the fourth quarter valued at approximately $44,141,000. Acadian Asset Management LLC raised its position in Vereit by 40.3% in the first quarter. Acadian Asset Management LLC now owns 54,791 shares of the company’s stock worth $486,000 after buying an additional 15,751 shares during the period. Aperio Group LLC raised its position in Vereit by 21.4% in the first quarter. Aperio Group LLC now owns 156,322 shares of the company’s stock worth $1,387,000 after buying an additional 27,566 shares during the period. Virginia Retirement System purchased a new position in Vereit during the first quarter worth about $2,633,000. Finally, Teachers Advisors Inc. raised its position in Vereit by 5.4% in the first quarter. Teachers Advisors Inc. now owns 795,261 shares of the company’s stock worth $7,054,000 after buying an additional 40,738 shares during the period. Institutional investors and hedge funds own 75.58% of the company’s stock.

Institutional Ownership by Quarter for Vereit (NYSE:VER)

Vereit Inc. (NYSE:VER) traded up 1.27% on Friday, hitting $10.37. 12,346,843 shares of the stock were exchanged. The company’s 50-day moving average is $10.30 and its 200-day moving average is $9.81. Vereit Inc. has a 52 week low of $6.68 and a 52 week high of $11.09. The company’s market cap is $9.37 billion.

Vereit (NYSE:VER) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.19 EPS for the quarter, meeting analysts’ consensus estimates of $0.19. The company had revenue of $371 million for the quarter, compared to analyst estimates of $323.34 million. Vereit had a negative return on equity of 3.36% and a negative net margin of 19.21%. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period last year, the company earned $0.22 earnings per share. On average, analysts predict that Vereit Inc. will post $0.77 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.1375 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.30%. The ex-dividend date is Wednesday, September 28th. Vereit’s dividend payout ratio (DPR) is -134.15%.

A number of research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Vereit from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. Capital One Financial Corp. upgraded shares of Vereit from an “equal weight” rating to an “overweight” rating in a report on Friday, August 5th. Finally, BMO Capital Markets restated a “buy” rating and issued a $11.00 target price on shares of Vereit in a report on Thursday, June 16th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $10.06.

About Vereit

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