Zacks: Brokerages Expect VEREIT Inc. (VER) to Announce $0.18 Earnings Per Share
Wall Street analysts expect that VEREIT Inc. (NYSE:VER) will announce $0.18 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for VEREIT’s earnings. VEREIT reported earnings per share of ($0.14) during the same quarter last year, which would indicate a positive year over year growth rate of 228.6%. The company is scheduled to issue its next quarterly earnings report on Thursday, February 22nd.
On average, analysts expect that VEREIT will report full-year earnings of $0.71 per share for the current fiscal year, with EPS estimates ranging from $0.66 to $0.74. For the next fiscal year, analysts forecast that the firm will report earnings of $0.73 per share, with EPS estimates ranging from $0.70 to $0.78. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover VEREIT.
A number of brokerages recently weighed in on VER. Zacks Investment Research lowered shares of VEREIT from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. Stifel Nicolaus reaffirmed a “hold” rating on shares of VEREIT in a report on Wednesday, November 1st. Finally, ValuEngine raised shares of VEREIT from a “hold” rating to a “buy” rating in a report on Friday, October 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $9.81.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be given a dividend of $0.138 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 6.98%. VEREIT’s payout ratio is presently -423.08%.
Large investors have recently made changes to their positions in the business. Fosun International Ltd acquired a new position in shares of VEREIT during the 2nd quarter worth approximately $15,622,000. Glenview Capital Management LLC boosted its position in shares of VEREIT by 5.9% during the 2nd quarter. Glenview Capital Management LLC now owns 17,946,243 shares of the financial services provider’s stock worth $146,082,000 after acquiring an additional 1,000,000 shares in the last quarter. Cedar Capital LLC acquired a new stake in shares of VEREIT during the 2nd quarter worth approximately $2,434,000. Stanley Laman Group Ltd. boosted its position in shares of VEREIT by 0.4% during the 2nd quarter. Stanley Laman Group Ltd. now owns 294,335 shares of the financial services provider’s stock worth $2,396,000 after acquiring an additional 1,094 shares in the last quarter. Finally, Amalgamated Bank boosted its position in shares of VEREIT by 80.4% during the 2nd quarter. Amalgamated Bank now owns 94,915 shares of the financial services provider’s stock worth $773,000 after acquiring an additional 42,301 shares in the last quarter. Hedge funds and other institutional investors own 85.28% of the company’s stock.
VEREIT, Inc is a full-service real estate operating company. The Company owns and manages a diversified portfolio of retail, restaurant, office and industrial real estate assets. It operates through two segments: real estate investment (REI) segment and its investment management segment, Cole Capital.
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