VEREIT Inc. (VER) Receives Average Rating of “Hold” from Analysts
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%.
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.
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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