VEREIT Inc. (NYSE:VER) – DA Davidson reduced their Q3 2018 earnings per share estimates for shares of VEREIT in a report released on Monday. DA Davidson analyst B. Oxford now anticipates that the financial services provider will earn $0.18 per share for the quarter, down from their previous estimate of $0.19. DA Davidson also issued estimates for VEREIT’s FY2018 earnings at $0.73 EPS.

VEREIT (NYSE:VER) last announced its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.16. VEREIT had a negative return on equity of 0.44% and a negative net margin of 2.72%. The firm had revenue of $336.90 million for the quarter, compared to analysts’ expectations of $296.02 million. During the same period last year, the company posted $0.19 earnings per share. The business’s quarterly revenue was down 9.2% on a year-over-year basis.

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A number of other equities analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of VEREIT from a “sell” rating to a “hold” rating in a research report on Wednesday, May 10th. Evercore ISI upgraded shares of VEREIT from an “in-line” rating to an “outperform” rating and set a $9.00 price objective on the stock in a research report on Friday, May 5th. BidaskClub upgraded shares of VEREIT from a “sell” rating to a “hold” rating in a research report on Sunday, July 16th. Finally, ValuEngine lowered 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, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $9.80.

Shares of VEREIT (NYSE:VER) traded down 1.106% during mid-day trading on Wednesday, reaching $8.495. 6,571,827 shares of the company were exchanged. The stock has a 50 day moving average price of $8.28 and a 200-day moving average price of $8.40. VEREIT has a 12 month low of $7.44 and a 12 month high of $10.76. The stock’s market capitalization is $8.27 billion.

Large investors have recently modified their holdings of the company. Strid Group LLC bought a new stake in shares of VEREIT during the second quarter valued at approximately $105,000. Cedar Capital LLC bought a new stake in shares of VEREIT during the second quarter valued at approximately $2,434,000. Westpac Banking Corp raised its stake in shares of VEREIT by 53.8% in the second quarter. Westpac Banking Corp now owns 706,958 shares of the financial services provider’s stock valued at $5,755,000 after buying an additional 247,252 shares during the last quarter. Delta Lloyd Asset Management N.V. bought a new stake in shares of VEREIT during the second quarter valued at approximately $2,341,000. Finally, Swiss National Bank raised its stake in shares of VEREIT by 2.8% in the second quarter. Swiss National Bank now owns 3,549,081 shares of the financial services provider’s stock valued at $28,890,000 after buying an additional 97,300 shares during the last quarter. Institutional investors own 84.82% of the company’s stock.

In related news, insider Paul H. Mcdowell bought 7,000 shares of the firm’s stock in a transaction on Wednesday, May 17th. The shares were bought at an average cost of $7.51 per share, for a total transaction of $52,570.00. Following the transaction, the insider now owns 289,401 shares of the company’s stock, valued at $2,173,401.51. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas W. Roberts bought 15,000 shares of the firm’s stock in a transaction on Monday, May 15th. The shares were bought at an average price of $7.60 per share, for a total transaction of $114,000.00. Following the completion of the transaction, the insider now directly owns 599,876 shares in the company, valued at approximately $4,559,057.60. The disclosure for this purchase can be found here. Insiders have acquired a total of 49,725 shares of company stock worth $378,489 over the last 90 days. Insiders own 0.09% of the company’s stock.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be given a dividend of $0.138 per share. This is a positive change from VEREIT’s previous quarterly dividend of $0.14. This represents a $0.55 annualized dividend and a dividend yield of 6.43%. The ex-dividend date of this dividend is Thursday, September 28th. VEREIT’s payout ratio is presently -499.95%.

VEREIT announced that its Board of Directors has approved a stock repurchase program on Monday, May 15th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

VEREIT Company Profile

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.

Earnings History and Estimates for VEREIT (NYSE:VER)

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