SG Americas Securities LLC lifted its position in shares of Vereit Inc (NYSE:VER) by 102.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 759,088 shares of the financial services provider’s stock after acquiring an additional 384,683 shares during the quarter. SG Americas Securities LLC owned 0.08% of Vereit worth $7,424,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the company. First Trust Advisors LP boosted its stake in shares of Vereit by 14.8% during the 3rd quarter. First Trust Advisors LP now owns 534,019 shares of the financial services provider’s stock worth $5,223,000 after acquiring an additional 68,906 shares in the last quarter. Huntington National Bank raised its position in shares of Vereit by 53.3% during the 3rd quarter. Huntington National Bank now owns 3,511 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 1,220 shares during the last quarter. Cullen Frost Bankers Inc. raised its position in shares of Vereit by 39.3% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 8,357 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 2,357 shares during the last quarter. Mackay Shields LLC raised its position in shares of Vereit by 156.9% during the 3rd quarter. Mackay Shields LLC now owns 651,062 shares of the financial services provider’s stock worth $6,368,000 after purchasing an additional 397,618 shares during the last quarter. Finally, IFM Investors Pty Ltd raised its position in shares of Vereit by 67.6% during the 3rd quarter. IFM Investors Pty Ltd now owns 117,536 shares of the financial services provider’s stock worth $1,150,000 after purchasing an additional 47,428 shares during the last quarter. 96.19% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently issued reports on VER shares. JPMorgan Chase & Co. lifted their price objective on Vereit from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. BMO Capital Markets started coverage on Vereit in a research report on Friday, October 25th. They set an “outperform” rating and a $11.00 price objective for the company. Stifel Nicolaus lifted their price objective on Vereit from $9.25 to $9.50 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Zacks Investment Research downgraded Vereit from a “hold” rating to a “sell” rating in a research report on Sunday, November 3rd. Finally, Morgan Stanley lifted their price objective on Vereit from $9.00 to $9.50 and gave the stock an “equal weight” rating in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $9.94.
VER traded up $0.03 during trading on Friday, hitting $9.39. The company’s stock had a trading volume of 10,015,413 shares, compared to its average volume of 10,410,099. The firm’s 50 day moving average price is $9.78 and its 200-day moving average price is $9.26. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market cap of $9.24 billion, a PE ratio of 13.04, a PEG ratio of 1.35 and a beta of 0.57. Vereit Inc has a twelve month low of $6.95 and a twelve month high of $10.13.
Vereit (NYSE:VER) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported ($0.76) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.93). The business had revenue of $302.99 million during the quarter, compared to analyst estimates of $306.69 million. Vereit had a net margin of 24.69% and a return on equity of 4.23%. The company’s revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 earnings per share. Equities analysts anticipate that Vereit Inc will post 0.69 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.138 dividend. The ex-dividend date is Monday, December 30th. This represents a $0.55 annualized dividend and a yield of 5.88%. Vereit’s dividend payout ratio (DPR) is presently 76.39%.
In other Vereit news, insider Thomas W. Roberts sold 25,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $9.87, for a total value of $246,750.00. Following the completion of the transaction, the insider now directly owns 433,478 shares in the company, valued at approximately $4,278,427.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.22% of the company’s stock.
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 total real estate investments of $15.6 billion including approximately 4,000 properties and 94.7 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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