Vereit Inc. (VER) Stock Rating Lowered by Zacks Investment Research
Vereit Inc. (NYSE:VER) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
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. “
A number of other brokerages have also issued reports on VER. Mizuho began coverage on shares of Vereit in a research note on Thursday, October 13th. They set a “neutral” rating and a $9.50 price target on the stock. Capital One Financial Corp. upgraded shares of Vereit from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $9.98.
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Vereit (NYSE:VER) traded up 0.571% during mid-day trading on Tuesday, hitting $9.685. 601,759 shares of the stock were exchanged. The company has a 50 day moving average of $10.08 and a 200 day moving average of $9.90. Vereit has a 12-month low of $6.68 and a 12-month high of $11.09. The firm’s market cap is $8.76 billion.
Vereit (NYSE:VER) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. The firm 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 previous year, the firm earned $0.22 EPS. On average, equities analysts anticipate that Vereit will post $0.77 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 17th. Stockholders of record on Friday, September 30th were given a dividend of $0.1375 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.71%. The ex-dividend date of this dividend was Wednesday, September 28th. Vereit’s dividend payout ratio is presently -134.15%.
Institutional investors have recently made changes to their positions in the company. Quadrant Capital Group LLC increased its position in shares of 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 in the last quarter. Capstone Asset Management Co. increased its position in shares of 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 in the last quarter. Dynamic Advisors Solutions LLC increased its position in shares of 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. CWM LLC increased its position in shares of Vereit by 1.3% in the third quarter. CWM LLC now owns 13,945 shares of the company’s stock worth $145,000 after buying an additional 184 shares during the period. Finally, V Wealth Management LLC increased its position in shares of 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. 75.59% of the stock is owned by institutional investors and hedge funds.
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