Shares of VEREIT Inc. (NYSE:VER) have earned an average rating of “Hold” from the ten brokerages that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $9.88.

A number of equities analysts have commented on VER shares. Zacks Investment Research downgraded shares of VEREIT from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. BidaskClub raised shares of VEREIT from a “sell” rating to a “hold” rating in a research note on Sunday, July 16th. Finally, ValuEngine downgraded shares of VEREIT from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd.

VEREIT (NYSE:VER) opened at 8.60 on Wednesday. The company’s 50-day moving average is $8.53 and its 200 day moving average is $8.36. The company’s market capitalization is $8.38 billion. VEREIT has a one year low of $7.44 and a one year high of $10.44.

VEREIT (NYSE:VER) last issued its earnings results on Thursday, August 3rd. The financial services provider reported $0.02 EPS for the quarter, missing analysts’ consensus estimates 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 firm earned $0.19 earnings per share. VEREIT’s revenue for the quarter was down 9.2% on a year-over-year basis. On average, equities analysts anticipate that VEREIT will post ($1.70) earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.138 per share. The ex-dividend date is Thursday, September 28th. This is an increase from VEREIT’s previous quarterly dividend of $0.14. This represents a $0.55 dividend on an annualized basis and a yield of 6.42%. VEREIT’s payout ratio is -499.95%.

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Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of VEREIT by 2.5% during the first quarter. Vanguard Group Inc. now owns 155,944,544 shares of the financial services provider’s stock valued at $1,323,969,000 after acquiring an additional 3,799,549 shares during the last quarter. BlackRock Inc. increased its position in shares of VEREIT by 1.4% during the second quarter. BlackRock Inc. now owns 77,878,258 shares of the financial services provider’s stock valued at $633,927,000 after acquiring an additional 1,087,580 shares during the last quarter. Cbre Clarion Securities LLC increased its position in shares of VEREIT by 5.4% during the second quarter. Cbre Clarion Securities LLC now owns 38,947,554 shares of the financial services provider’s stock valued at $317,033,000 after acquiring an additional 2,004,074 shares during the last quarter. CI Investments Inc. increased its position in shares of VEREIT by 0.9% during the second quarter. CI Investments Inc. now owns 24,529,315 shares of the financial services provider’s stock valued at $199,669,000 after acquiring an additional 220,300 shares during the last quarter. Finally, Glenview Capital Management LLC increased its position in shares of VEREIT by 5.9% during the second quarter. Glenview Capital Management LLC now owns 17,946,243 shares of the financial services provider’s stock valued at $146,082,000 after acquiring an additional 1,000,000 shares during the last quarter. Institutional investors and hedge funds own 85.99% of the company’s stock.

About VEREIT

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.

Analyst Recommendations for VEREIT (NYSE:VER)

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