Brokers Issue Forecasts for VEREIT Inc.’s FY2017 Earnings (VER)
VEREIT Inc. (NYSE:VER) – Capital One Financial Corporation cut their FY2017 EPS estimates for shares of VEREIT in a research report issued on Thursday. Capital One Financial Corporation analyst C. Lucas now forecasts that the financial services provider will post earnings of $0.73 per share for the year, down from their previous estimate of $0.74. Capital One Financial Corporation also issued estimates for VEREIT’s Q1 2018 earnings at $0.18 EPS and Q4 2018 earnings at $0.18 EPS.
Other research analysts have also recently issued reports about the company. ValuEngine raised VEREIT from a “hold” rating to a “buy” rating in a research note on Friday. Zacks Investment Research raised VEREIT from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a research note on Wednesday, July 19th. Finally, BidaskClub raised VEREIT from a “sell” rating to a “hold” rating in a research note on Sunday, July 16th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $9.80.
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VEREIT (NYSE VER) opened at 8.35 on Friday. VEREIT has a one year low of $7.44 and a one year high of $9.84. The firm’s 50-day moving average price is $8.50 and its 200 day moving average price is $8.36. The firm’s market capitalization is $8.13 billion.
VEREIT (NYSE:VER) last announced its earnings results on Thursday, August 3rd. The financial services provider reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.16). The company had revenue of $336.90 million for the quarter, compared to analyst estimates of $296.02 million. VEREIT had a negative return on equity of 0.44% and a negative net margin of 2.72%. The firm’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.138 per share. This is a boost from VEREIT’s previous quarterly dividend of $0.14. This represents a $0.55 dividend on an annualized basis and a dividend yield of 6.61%. The ex-dividend date is Thursday, September 28th. VEREIT’s dividend payout ratio (DPR) is -499.95%.
Several large investors have recently made changes to their positions in the company. WINTON GROUP Ltd bought a new stake in shares of VEREIT in the second quarter worth about $100,000. Strid Group LLC bought a new stake in shares of VEREIT in the second quarter worth about $105,000. Sheaff Brock Investment Advisors LLC grew its stake in shares of VEREIT by 26.8% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 14,033 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 2,969 shares during the last quarter. IBM Retirement Fund grew its stake in shares of VEREIT by 31.3% in the second quarter. IBM Retirement Fund now owns 14,253 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 3,395 shares during the last quarter. Finally, Stratos Wealth Partners LTD. grew its stake in shares of VEREIT by 18.1% in the second quarter. Stratos Wealth Partners LTD. now owns 14,550 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 2,234 shares during the last quarter. 85.99% of the stock is currently owned by hedge funds and other institutional investors.
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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