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 equities research analysts also recently issued reports on VER. Mizuho began coverage on shares of Vereit in a report on Thursday, October 13th. They issued a “neutral” rating and a $9.50 price target on the stock. Capital One Financial Corp. raised shares of Vereit from an “equal weight” rating to an “overweight” rating in a report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $9.98.
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Shares of Vereit (NYSE:VER) traded up 0.42% during mid-day trading on Tuesday, reaching $9.67. 564,063 shares of the company’s stock traded hands. The firm has a 50-day moving average of $10.08 and a 200 day moving average of $9.90. The company’s market cap is $8.74 billion. Vereit has a 12-month low of $6.68 and a 12-month high of $11.09.
Vereit (NYSE:VER) last issued its earnings results on Thursday, August 4th. The company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. The firm earned $371 million during 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%. The company’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter last year, the business earned $0.22 earnings per share. Equities analysts forecast that Vereit will post $0.77 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 17th. Investors of record on Friday, September 30th were paid a $0.1375 dividend. This represents a $0.55 dividend on an annualized basis and a yield of 5.71%. The ex-dividend date of this dividend was Wednesday, September 28th. Vereit’s dividend payout ratio is currently -134.15%.
A number of large investors have recently made changes to their positions in VER. Quadrant Capital Group LLC increased its stake 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. Mizuho Asset Management Co. Ltd. acquired a new position in Vereit during the second quarter valued at approximately $106,000. Regal Investment Advisors LLC acquired a new position in Vereit during the second quarter valued at approximately $106,000. Crossvault Capital Management LLC acquired a new position in Vereit during the second quarter valued at approximately $106,000. Finally, Veritable L.P. acquired a new position in Vereit during the second quarter valued at approximately $109,000. 75.59% of the stock is currently owned by institutional investors and hedge funds.
Vereit Company Profile
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