Vereit Inc. (VER) Receives Consensus Rating of “Buy” from Brokerages
Vereit Inc. (NYSE:VER) has been assigned an average rating of “Buy” from the seven research firms that are currently covering the company. Three analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $10.09.
VER has been the subject of several recent analyst reports. BMO Capital Markets restated a “buy” rating and set a $11.00 target price on shares of Vereit in a research note on Thursday, June 16th. Zacks Investment Research cut shares of Vereit from a “hold” rating to a “sell” rating in a research report on Tuesday, July 19th. Finally, Capital One Financial Corp. raised shares of Vereit from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 5th.
A number of institutional investors have recently modified their holdings of VER. Vanguard Group Inc. boosted its position in shares of Vereit by 1.1% in the second quarter. Vanguard Group Inc. now owns 135,834,331 shares of the company’s stock worth $1,377,360,000 after buying an additional 1,416,327 shares in the last quarter. FMR LLC boosted its position in shares of Vereit by 20.3% in the second quarter. FMR LLC now owns 82,998,582 shares of the company’s stock worth $841,606,000 after buying an additional 14,029,056 shares in the last quarter. Cbre Clarion Securities LLC boosted its position in shares of Vereit by 2.7% in the second quarter. Cbre Clarion Securities LLC now owns 35,253,903 shares of the company’s stock worth $357,475,000 after buying an additional 923,858 shares in the last quarter. State Street Corp boosted 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 worth $189,813,000 after buying an additional 238,808 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its position in shares of Vereit by 3.3% in the second quarter. BlackRock Fund Advisors now owns 13,348,991 shares of the company’s stock worth $135,359,000 after buying an additional 427,627 shares in the last quarter. 75.58% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Vereit (NYSE:VER) traded up 0.9376% on Thursday, hitting $9.7001. The stock had a trading volume of 3,864,864 shares. Vereit has a 12-month low of $6.68 and a 12-month high of $11.09. The stock has a 50 day moving average price of $10.14 and a 200-day moving average price of $9.87. The company’s market cap is $8.77 billion.
Vereit (NYSE:VER) last announced its earnings results on Thursday, August 4th. The company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. The company earned $371 million during the quarter, compared to the consensus estimate 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 revenue was down 5.8% on a year-over-year basis. During the same period last year, the firm earned $0.22 earnings per share. On average, equities analysts expect that Vereit will post $0.77 earnings per share for the current 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. The ex-dividend date is Wednesday, September 28th. This represents a $0.55 dividend on an annualized basis and a yield of 5.72%. Vereit’s dividend payout ratio is currently -134.15%.
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