VEREIT Inc. (VER) Receives Average Rating of “Hold” from Analysts
VEREIT Inc. (NYSE:VER) has received a consensus rating of “Hold” from the eleven analysts that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $9.88.
Several equities analysts have recently commented on the stock. Evercore ISI reaffirmed an “in-line” rating and set a $9.00 price target on shares of VEREIT in a research report on Wednesday, April 26th. 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. Zacks Investment Research cut shares of VEREIT from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. ValuEngine cut shares of VEREIT from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BidaskClub cut shares of VEREIT from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th.
In other VEREIT news, insider Hugh R. Frater bought 10,000 shares of the business’s stock in a transaction on Friday, May 5th. The shares were purchased at an average price of $7.81 per share, with a total value of $78,100.00. Following the completion of the acquisition, the insider now directly owns 37,486 shares of the company’s stock, valued at approximately $292,765.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Glenn J. Rufrano bought 32,000 shares of the business’s stock in a transaction on Monday, May 8th. The stock was acquired at an average cost of $7.81 per share, for a total transaction of $249,920.00. Following the acquisition, the chief executive officer now directly owns 1,962,657 shares of the company’s stock, valued at $15,328,351.17. The disclosure for this purchase can be found here. Insiders have bought 91,725 shares of company stock worth $706,509 in the last ninety days. Corporate insiders own 0.09% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of VEREIT by 2.5% in the first quarter. Vanguard Group Inc. now owns 155,944,544 shares of the financial services provider’s stock worth $1,323,969,000 after buying an additional 3,799,549 shares in the last quarter. BlackRock Inc. boosted its position in shares of VEREIT by 3,227.7% in the first quarter. BlackRock Inc. now owns 76,790,678 shares of the financial services provider’s stock worth $651,955,000 after buying an additional 74,483,066 shares in the last quarter. Lasalle Investment Management Securities LLC boosted its position in shares of VEREIT by 72.6% in the first quarter. Lasalle Investment Management Securities LLC now owns 16,129,586 shares of the financial services provider’s stock worth $136,940,000 after buying an additional 6,783,213 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of VEREIT by 4.7% in the first quarter. Dimensional Fund Advisors LP now owns 12,868,146 shares of the financial services provider’s stock worth $109,250,000 after buying an additional 582,551 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of VEREIT by 43.9% in the first quarter. Morgan Stanley now owns 10,594,933 shares of the financial services provider’s stock worth $89,951,000 after buying an additional 3,229,897 shares in the last quarter. 84.95% of the stock is currently owned by hedge funds and other institutional investors.
Shares of VEREIT (NYSE:VER) opened at 8.11 on Friday. The stock has a 50 day moving average price of $8.11 and a 200 day moving average price of $8.44. The stock’s market capitalization is $7.90 billion. VEREIT has a 12-month low of $7.44 and a 12-month high of $11.09.
VEREIT (NYSE:VER) last announced its earnings results on Thursday, May 4th. The financial services provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. The company had revenue of $348.03 million during the quarter, compared to the consensus estimate of $297.94 million. VEREIT had a negative return on equity of 0.80% and a negative net margin of 4.77%. The company’s revenue was down 5.7% on a year-over-year basis. During the same period last year, the firm earned $0.21 earnings per share. On average, equities analysts anticipate that VEREIT will post ($1.70) earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Friday, June 30th will be given a dividend of $0.1375 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $0.55 annualized dividend and a dividend yield of 6.78%. VEREIT’s payout ratio is -366.67%.
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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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