Vereit Inc (VER) Insider William Craig Jr. Miller Buys 12,725 Shares
Vereit Inc (NYSE:VER) insider William Craig Jr. Miller purchased 12,725 shares of Vereit stock in a transaction that occurred on Monday, May 22nd. The shares were purchased at an average price of $7.86 per share, for a total transaction of $100,018.50. Following the transaction, the insider now directly owns 223,381 shares in the company, valued at approximately $1,755,774.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Vereit Inc (NYSE:VER) traded up 2.68% during mid-day trading on Tuesday, hitting $8.04. 25,071,801 shares of the company traded hands. The firm has a 50 day moving average of $8.27 and a 200 day moving average of $8.47. Vereit Inc has a one year low of $7.44 and a one year high of $11.09. The firm’s market capitalization is $7.83 billion.
Vereit (NYSE:VER) last posted its earnings results on Thursday, May 4th. The financial services provider reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.01. The business had revenue of $348.03 million for the quarter, compared to analyst estimates of $297.94 million. Vereit had a negative net margin of 18.02% and a negative return on equity of 3.12%. Vereit’s revenue was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.21 EPS. Equities research analysts expect that Vereit Inc will post ($0.02) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Friday, June 30th will be issued a dividend of $0.1375 per share. This represents a $0.55 dividend on an annualized basis and a yield of 6.84%. The ex-dividend date is Wednesday, June 28th. Vereit’s dividend payout ratio (DPR) is presently -141.02%.
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Several analysts recently issued reports on the stock. Evercore ISI upgraded shares of Vereit to an “outperform” rating and set a $9.00 price target on the stock in a research report on Monday, May 15th. Zacks Investment Research lowered shares of Vereit from a “buy” rating to a “sell” rating in a research report on Saturday, February 25th. Finally, BMO Capital Markets set a $10.00 price target on shares of Vereit and gave the stock a “buy” rating in a research report on Wednesday, March 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. Vereit presently has an average rating of “Hold” and an average price target of $9.80.
A number of hedge funds have recently bought and sold shares of the company. Sumitomo Mitsui Asset Management Company LTD raised its stake in Vereit by 13.0% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 110,477 shares of the financial services provider’s stock worth $1,145,000 after buying an additional 12,700 shares during the period. Macquarie Group Ltd. raised its stake in Vereit by 40.5% in the fourth quarter. Macquarie Group Ltd. now owns 433,874 shares of the financial services provider’s stock worth $3,670,000 after buying an additional 125,018 shares during the period. Segantii Capital Management Ltd purchased a new stake in Vereit during the third quarter worth $5,120,000. First Heartland Consultants Inc. raised its stake in Vereit by 5.0% in the third quarter. First Heartland Consultants Inc. now owns 131,635 shares of the financial services provider’s stock worth $1,365,000 after buying an additional 6,302 shares during the period. Finally, Sii Investments Inc. WI raised its stake in Vereit by 14.9% in the fourth quarter. Sii Investments Inc. WI now owns 363,297 shares of the financial services provider’s stock worth $3,072,000 after buying an additional 47,169 shares during the period. 82.54% of the stock is currently owned by institutional investors and hedge funds.
VEREIT, Inc is a full-service real estate operating company. The Company operates through two business segments: real estate investment (REI) segment and investment management segment, Cole Capital. As of December 31, 2016, through its REI segment, the Company owned and managed a portfolio of 4,142 retail, restaurant, office and industrial real estate properties with an aggregate of 93.3 million square feet, which are located in 49 states, Puerto Rico and Canada.
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