Vereit Inc (NYSE:VER) has been assigned a consensus recommendation of “Hold” from the seven analysts that are covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $8.75.
VER has been the topic of several research reports. ValuEngine cut Vereit from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Zacks Investment Research raised Vereit from a “hold” rating to a “buy” rating and set a $8.50 price objective on the stock in a research report on Saturday, November 10th. JPMorgan Chase & Co. lifted their price objective on Vereit from $8.00 to $9.00 and gave the company an “overweight” rating in a research report on Monday, September 17th. Finally, Robert W. Baird initiated coverage on Vereit in a research report on Monday, October 22nd. They set an “outperform” rating and a $9.00 price objective on the stock.
A number of institutional investors have recently bought and sold shares of the business. Verition Fund Management LLC bought a new stake in shares of Vereit in the 3rd quarter worth approximately $114,000. Qube Research & Technologies Ltd bought a new stake in shares of Vereit in the 2nd quarter worth approximately $130,000. Capital Investment Advisory Services LLC bought a new stake in shares of Vereit in the 3rd quarter worth approximately $127,000. HRT Financial LLC bought a new stake in shares of Vereit in the 3rd quarter worth approximately $149,000. Finally, Lourd Capital LLC bought a new stake in shares of Vereit in the 3rd quarter worth approximately $161,000. 88.96% of the stock is currently owned by institutional investors and hedge funds.
NYSE:VER traded down $0.02 during mid-day trading on Tuesday, reaching $7.53. 38,267 shares of the company’s stock traded hands, compared to its average volume of 8,368,371. Vereit has a 12-month low of $6.52 and a 12-month high of $8.00. The company has a market cap of $7.26 billion, a PE ratio of 10.80, a P/E/G ratio of 4.51 and a beta of 0.52. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.70 and a quick ratio of 0.70.
Vereit (NYSE:VER) last posted its quarterly earnings data on Tuesday, November 6th. The financial services provider reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.27). The firm had revenue of $289.03 million for the quarter, compared to the consensus estimate of $291.19 million. Vereit had a negative net margin of 11.51% and a negative return on equity of 1.53%. The business’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 earnings per share. Analysts expect that Vereit will post 0.72 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be given 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 7.30%. Vereit’s payout ratio is 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 $14.1 billion including approximately 4,000 properties and 93.9 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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