VEREIT Inc. (VER) Stock Rating Lowered by BidaskClub
VEREIT Inc. (NYSE:VER) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Saturday.
Several other research firms also recently commented on VER. Zacks Investment Research downgraded shares of VEREIT from a “buy” rating to a “sell” rating in a report on Saturday, February 25th. BMO Capital Markets set a $10.00 target price on shares of VEREIT and gave the company a “buy” rating in a research report on Wednesday, March 22nd. Evercore ISI reaffirmed an “in-line” rating and set a $9.00 price objective on shares of VEREIT in a research report on Wednesday, April 26th. Finally, ValuEngine cut shares of VEREIT from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $9.80.
VEREIT (VER) traded up 0.75% on Friday, reaching $8.06. 10,070,103 shares of the company were exchanged. The firm’s market capitalization is $7.85 billion. VEREIT has a 12-month low of $7.44 and a 12-month high of $11.09. The stock has a 50 day moving average of $8.05 and a 200 day moving average of $8.45.
VEREIT (NYSE:VER) last issued 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 the consensus estimate of $297.94 million. VEREIT had a negative net margin of 4.77% and a negative return on equity of 0.80%. The firm’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 earnings per share. Equities analysts anticipate that VEREIT will post ($1.70) EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Friday, June 30th will be issued a $0.1375 dividend. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 6.82%. VEREIT’s dividend payout ratio (DPR) is currently -366.67%.
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In related news, insider Paul H. Mcdowell bought 7,000 shares of the company’s stock in a transaction dated Wednesday, May 17th. The stock was purchased at an average price of $7.51 per share, with a total value of $52,570.00. Following the completion of the acquisition, the insider now owns 289,401 shares of the company’s stock, valued at $2,173,401.51. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider William Craig Jr. Miller bought 12,725 shares of the company’s stock in a transaction dated Monday, May 22nd. The stock was bought at an average cost of $7.86 per share, with a total value of $100,018.50. Following the acquisition, the insider now directly owns 223,381 shares of the company’s stock, valued at approximately $1,755,774.66. The disclosure for this purchase can be found here. Insiders bought 91,725 shares of company stock valued at $706,509 in the last three months. Company insiders own 0.09% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Benjamin F. Edwards & Company bought a new position in VEREIT during the fourth quarter worth approximately $0. Quadrant Capital Group LLC boosted its position in VEREIT by 0.5% in the second quarter. Quadrant Capital Group LLC now owns 10,366 shares of the financial services provider’s stock worth $104,000 after buying an additional 56 shares during the period. GAM Holding AG boosted its position in VEREIT by 0.3% in the third quarter. GAM Holding AG now owns 30,392 shares of the financial services provider’s stock worth $315,000 after buying an additional 98 shares during the period. Lincoln National Corp boosted its position in VEREIT by 0.5% in the third quarter. Lincoln National Corp now owns 23,755 shares of the financial services provider’s stock worth $246,000 after buying an additional 109 shares during the period. Finally, Capstone Asset Management Co. boosted its position in VEREIT by 0.6% in the third quarter. Capstone Asset Management Co. now owns 17,642 shares of the financial services provider’s stock worth $183,000 after buying an additional 110 shares during the period. 84.95% of the stock is owned by hedge funds and other institutional investors.
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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