Mizuho Begins Coverage on Vereit Inc. (VER)
Mizuho initiated coverage on shares of Vereit Inc. (NYSE:VER) in a research report issued to clients and investors on Thursday, The Fly reports. The firm set a “neutral” rating on the stock.
Several other brokerages have also weighed in on VER. Zacks Investment Research lowered Vereit from a “hold” rating to a “sell” rating in a research report on Tuesday, July 19th. BMO Capital Markets reaffirmed a “buy” rating and issued a $11.00 target price on shares of Vereit in a research report on Thursday, June 16th. Finally, Capital One Financial Corp. raised Vereit from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 5th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $10.06.
Shares of Vereit (NYSE:VER) traded up 0.94% during trading on Thursday, hitting $9.70. The company’s stock had a trading volume of 6,665,295 shares. The company’s market capitalization is $8.77 billion. Vereit has a 1-year low of $6.68 and a 1-year high of $11.09. The firm’s 50 day moving average is $10.14 and its 200-day moving average is $9.87.
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Vereit (NYSE:VER) last issued its earnings results on Thursday, August 4th. The company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. Vereit had a negative return on equity of 3.36% and a negative net margin of 19.21%. The company had revenue of $371 million for the quarter, compared to analyst estimates of $323.34 million. During the same period in the prior year, the firm posted $0.22 EPS. The business’s revenue was down 5.8% compared to the same quarter last year. Analysts forecast that Vereit will post $0.77 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be issued a $0.1375 dividend. This represents a $0.55 dividend on an annualized basis and a yield of 5.67%. The ex-dividend date of this dividend is Wednesday, September 28th. Vereit’s dividend payout ratio (DPR) is currently -134.15%.
A number of hedge funds have recently added to or reduced their stakes in VER. Quadrant Capital Group LLC raised its stake in Vereit by 0.5% in the second quarter. Quadrant Capital Group LLC now owns 10,366 shares of the company’s stock worth $104,000 after buying an additional 56 shares during the period. Capstone Asset Management Co. raised its stake in Vereit by 0.6% in the third quarter. Capstone Asset Management Co. now owns 17,642 shares of the company’s stock worth $183,000 after buying an additional 110 shares during the period. Dynamic Advisors Solutions LLC raised its stake in Vereit by 1.0% in the third quarter. Dynamic Advisors Solutions LLC now owns 14,131 shares of the company’s stock worth $147,000 after buying an additional 136 shares during the period. V Wealth Management LLC raised its stake in Vereit by 1.5% in the second quarter. V Wealth Management LLC now owns 13,300 shares of the company’s stock worth $135,000 after buying an additional 200 shares during the period. Finally, CWM LLC raised its stake in Vereit by 1.5% in the second quarter. CWM LLC now owns 13,761 shares of the company’s stock worth $140,000 after buying an additional 205 shares during the period. 75.58% of the stock is currently owned by hedge funds and other institutional investors.
Vereit Company Profile
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