Zweig DiMenna Associates LLC increased its position in shares of VEREIT Inc. (NYSE:VER) by 20.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,181,614 shares of the financial services provider’s stock after purchasing an additional 200,000 shares during the quarter. Zweig DiMenna Associates LLC owned 0.12% of VEREIT worth $9,796,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of VER. Cbre Clarion Securities LLC raised its holdings in VEREIT by 5.4% during the second quarter. Cbre Clarion Securities LLC now owns 38,947,554 shares of the financial services provider’s stock worth $317,033,000 after purchasing an additional 2,004,074 shares during the last quarter. Fosun International Ltd acquired a new position in VEREIT during the second quarter worth $15,622,000. Prudential Financial Inc. raised its holdings in VEREIT by 22.8% during the second quarter. Prudential Financial Inc. now owns 9,987,986 shares of the financial services provider’s stock worth $81,303,000 after purchasing an additional 1,855,265 shares during the last quarter. LSV Asset Management raised its holdings in VEREIT by 13.1% during the second quarter. LSV Asset Management now owns 11,000,500 shares of the financial services provider’s stock worth $89,544,000 after purchasing an additional 1,277,400 shares during the last quarter. Finally, Green Street Investors LLC acquired a new position in VEREIT during the second quarter worth $9,980,000. 85.03% of the stock is owned by hedge funds and other institutional investors.
VEREIT Inc. (NYSE:VER) traded up $0.04 during trading on Friday, reaching $8.21. The company’s stock had a trading volume of 7,099,500 shares, compared to its average volume of 10,715,874. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $7,998.41, a P/E ratio of 11.25 and a beta of 0.74. VEREIT Inc. has a one year low of $7.44 and a one year high of $9.12.
The business also recently declared 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. This represents a $0.55 annualized dividend and a yield of 6.72%. The ex-dividend date of this dividend is Thursday, December 28th. VEREIT’s payout ratio is -549.95%.
VER has been the subject of several research reports. Zacks Investment Research cut VEREIT from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. ValuEngine raised VEREIT from a “hold” rating to a “buy” rating in a report on Friday, October 6th. BidaskClub raised VEREIT from a “sell” rating to a “hold” rating in a report on Sunday, July 16th. Finally, Stifel Nicolaus reaffirmed a “hold” rating on shares of VEREIT in a report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $9.88.
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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