Dai Ichi Life Insurance Company Ltd cut its position in shares of VEREIT Inc. (NYSE:VER) by 54.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,000 shares of the financial services provider’s stock after selling 57,259 shares during the quarter. Dai Ichi Life Insurance Company Ltd’s holdings in VEREIT were worth $383,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Stratos Wealth Partners LTD. acquired a new stake in VEREIT during the first quarter worth about $105,000. Strid Group LLC acquired a new stake in shares of VEREIT in the second quarter valued at 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 valued at $114,000 after buying an additional 2,969 shares in 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 valued at $116,000 after buying an additional 3,395 shares in the last quarter. Finally, Dynamic Advisors Solutions LLC grew its stake in shares of VEREIT by 0.9% in the second quarter. Dynamic Advisors Solutions LLC now owns 14,574 shares of the financial services provider’s stock valued at $119,000 after buying an additional 127 shares in the last quarter. Institutional investors own 86.04% of the company’s stock.
A number of equities research analysts have recently issued reports on VER shares. Zacks Investment Research lowered VEREIT from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. BidaskClub upgraded VEREIT from a “sell” rating to a “hold” rating in a research note on Sunday, July 16th. Finally, ValuEngine lowered VEREIT from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. VEREIT has an average rating of “Hold” and an average price target of $9.80.
Shares of VEREIT Inc. (NYSE:VER) opened at 8.68 on Friday. The firm’s market cap is $8.45 billion. VEREIT Inc. has a 1-year low of $7.44 and a 1-year high of $10.44. The stock has a 50 day moving average price of $8.51 and a 200-day moving average price of $8.38.
VEREIT (NYSE:VER) last announced its quarterly earnings results 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 during the quarter, compared to analyst estimates of $296.02 million. During the same period in the prior year, the firm earned $0.19 EPS. VEREIT’s quarterly revenue was down 9.2% on a year-over-year basis. On average, equities research analysts expect that VEREIT Inc. will post ($1.70) earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be given a $0.138 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 6.36%. This is a boost from VEREIT’s previous quarterly dividend of $0.14. VEREIT’s payout ratio is currently -499.95%.
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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