According to Zacks, “VEREIT, Inc. is a real estate operating company. The Company owns and manages a diversified portfolio of retail, restaurant, office and industrial real estate assets. VEREIT, Inc., formerly known as American Realty Capital Properties Inc., is based in Phoenix, United States. “
VER has been the topic of several other research reports. Mizuho started coverage on shares of Vereit in a report on Thursday, October 13th. They set a neutral rating and a $9.50 price objective on the stock. Capital One Financial Corp. upgraded shares of Vereit from an equal weight rating to an overweight rating in a report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $9.98.
Vereit (NYSE:VER) traded down 0.21% during midday trading on Tuesday, reaching $9.73. 602,654 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $10.06 and its 200 day moving average price is $9.91. Vereit has a 1-year low of $6.68 and a 1-year high of $11.09. The firm’s market cap is $8.80 billion.
Vereit (NYSE:VER) last issued its earnings results on Thursday, August 4th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.19. The business had revenue of $371 million for the quarter, compared to analyst estimates of $323.34 million. Vereit had a negative net margin of 19.21% and a negative return on equity of 3.36%. Vereit’s revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.22 earnings per share. Equities research analysts anticipate that Vereit will post $0.77 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 17th. Shareholders of record on Friday, September 30th were paid a dividend of $0.1375 per share. This represents a $0.55 annualized dividend and a dividend yield of 5.64%. The ex-dividend date was Wednesday, September 28th. Vereit’s dividend payout ratio (DPR) is presently -134.15%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Nuveen Asset Management LLC increased its position in shares of Vereit by 101.5% in the first quarter. Nuveen Asset Management LLC now owns 3,291,466 shares of the company’s stock valued at $29,195,000 after buying an additional 1,658,348 shares during the last quarter. Legal & General Group Plc increased its position in shares of Vereit by 4.8% in the first quarter. Legal & General Group Plc now owns 5,132,804 shares of the company’s stock valued at $45,527,000 after buying an additional 237,130 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Vereit by 5.4% in the first quarter. Geode Capital Management LLC now owns 5,506,954 shares of the company’s stock valued at $48,818,000 after buying an additional 281,694 shares during the last quarter. Elliott Management Corp increased its position in shares of Vereit by 3.4% in the first quarter. Elliott Management Corp now owns 92,529 shares of the company’s stock valued at $821,000 after buying an additional 3,029 shares during the last quarter. Finally, State Street Corp increased its position in shares of Vereit by 1.1% in the first quarter. State Street Corp now owns 21,399,450 shares of the company’s stock valued at $189,813,000 after buying an additional 238,808 shares during the last quarter. 75.59% of the stock is currently owned by hedge funds and other institutional investors.
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