Wall Street brokerages forecast that Vereit Inc (NYSE:VER) will report earnings of $0.18 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Vereit’s earnings, with the highest EPS estimate coming in at $0.18 and the lowest estimate coming in at $0.16. Vereit also reported earnings of $0.18 per share during the same quarter last year. The firm is scheduled to announce its next quarterly earnings report on Thursday, February 28th.
According to Zacks, analysts expect that Vereit will report full-year earnings of $0.72 per share for the current financial year. For the next year, analysts anticipate that the company will report earnings of $0.70 per share, with EPS estimates ranging from $0.65 to $0.73. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Vereit.
Vereit (NYSE:VER) last issued its quarterly earnings results on Tuesday, November 6th. The financial services provider reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.27). The company had revenue of $289.03 million during the quarter, compared to analysts’ expectations of $291.19 million. Vereit had a negative return on equity of 1.51% and a negative net margin of 11.51%. Vereit’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.18 EPS.
VER has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Vereit from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Monday, September 17th. ValuEngine cut shares of Vereit from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Mizuho set a $8.00 target price on shares of Vereit and gave the stock a “hold” rating in a research note on Monday, August 13th. Finally, Robert W. Baird started coverage on shares of Vereit in a research note on Monday, October 22nd. They set an “outperform” rating and a $9.00 target price on the stock. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $8.85.
A number of institutional investors and hedge funds have recently made changes to their positions in VER. PGGM Investments boosted its stake in Vereit by 133.3% during the 2nd quarter. PGGM Investments now owns 21,502,611 shares of the financial services provider’s stock worth $159,979,000 after purchasing an additional 12,287,014 shares during the last quarter. Centersquare Investment Management LLC boosted its stake in Vereit by 21.4% during the 2nd quarter. Centersquare Investment Management LLC now owns 21,014,573 shares of the financial services provider’s stock worth $156,348,000 after purchasing an additional 3,697,262 shares during the last quarter. BlackRock Inc. boosted its stake in Vereit by 3.8% during the 2nd quarter. BlackRock Inc. now owns 85,065,999 shares of the financial services provider’s stock worth $632,890,000 after purchasing an additional 3,090,710 shares during the last quarter. LSV Asset Management boosted its stake in Vereit by 15.5% during the 2nd quarter. LSV Asset Management now owns 22,913,053 shares of the financial services provider’s stock worth $170,473,000 after purchasing an additional 3,077,953 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Vereit by 506.6% during the 2nd quarter. Renaissance Technologies LLC now owns 3,403,754 shares of the financial services provider’s stock worth $25,324,000 after purchasing an additional 2,842,600 shares during the last quarter. 87.44% of the stock is currently owned by institutional investors.
Shares of NYSE VER opened at $7.69 on Friday. The firm has a market capitalization of $7.23 billion, a P/E ratio of 10.99, a P/E/G ratio of 2.75 and a beta of 0.51. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.66. Vereit has a one year low of $6.52 and a one year high of $8.26.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be paid a dividend of $0.1375 per share. The ex-dividend date is Friday, December 28th. This represents a $0.55 annualized dividend and a yield of 7.15%. Vereit’s dividend payout ratio (DPR) is presently 78.57%.
VEREIT is a full-service real estate operating company which owns and manages one of the largest portfolios of single-tenant commercial properties in the U.S. The Company has a total asset book value of $14.3 billion including approximately 4,000 properties and 94.6 million square feet. VEREIT's business model provides equity capital to creditworthy corporations in return for long-term leases on their properties.
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