Zacks Investment Research Lowers VEREIT Inc. (VER) to Sell
VEREIT Inc. (NYSE:VER) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.
According to Zacks, “VEREIT, Inc. is a real estate operating company. The Company owns and manages a diversified portfolio of retail, restaurant, office and industrial real estate assets. VEREIT, Inc., formerly known as American Realty Capital Properties Inc., is based in Phoenix, United States. “
Separately, BidaskClub raised VEREIT from a “sell” rating to a “hold” rating in a research report on Sunday, July 16th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $9.80.
VEREIT (NYSE:VER) opened at 8.53 on Thursday. VEREIT has a one year low of $7.44 and a one year high of $9.84. The stock has a 50 day moving average price of $8.51 and a 200-day moving average price of $8.36. The stock’s market capitalization is $8.31 billion.
VEREIT (NYSE:VER) last posted its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.02 earnings per share 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 company had revenue of $336.90 million for the quarter, compared to analysts’ expectations of $296.02 million. During the same period in the prior year, the company posted $0.19 EPS. The firm’s revenue was down 9.2% compared to the same quarter last year. Analysts anticipate that VEREIT will post ($1.70) earnings per share for the current year.
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A number of large investors have recently bought and sold shares of the stock. Intl Fcstone Inc. purchased a new position in VEREIT in the second quarter valued at $232,000. WFG Advisors LP increased its holdings in VEREIT by 21.1% in the second quarter. WFG Advisors LP now owns 230,364 shares of the financial services provider’s stock valued at $1,875,000 after buying an additional 40,157 shares during the last quarter. WINTON GROUP Ltd purchased a new position in VEREIT in the second quarter valued at $100,000. Strategic Wealth Advisors Group LLC purchased a new position in VEREIT in the second quarter valued at $618,000. Finally, Proxima Capital Management LLC increased its holdings in VEREIT by 22.1% in the second quarter. Proxima Capital Management LLC now owns 678,510 shares of the financial services provider’s stock valued at $5,523,000 after buying an additional 123,000 shares during the last quarter. 85.99% of the stock is currently owned by hedge funds and other institutional investors.
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.
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