Shares of Vereit Inc (NYSE:VER) have received an average recommendation of “Hold” from the nine analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $9.75.
Several analysts recently commented on the stock. Stifel Nicolaus increased their target price on shares of Vereit from $9.25 to $9.50 and gave the company a “hold” rating in a research note on Tuesday, September 10th. JPMorgan Chase & Co. increased their target price on shares of Vereit from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. TheStreet upgraded shares of Vereit from a “c” rating to a “b-” rating in a research report on Friday, August 9th. Morgan Stanley upped their price target on shares of Vereit from $9.00 to $9.50 and gave the company an “equal weight” rating in a research report on Tuesday, September 17th. Finally, Evercore ISI set a $9.00 price target on shares of Vereit and gave the company a “hold” rating in a research report on Wednesday, August 7th.
In related news, insider Thomas W. Roberts sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $9.87, for a total value of $246,750.00. Following the completion of the sale, the insider now owns 433,478 shares in the company, valued at approximately $4,278,427.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Strs Ohio lifted its position in Vereit by 1.8% in the 3rd quarter. Strs Ohio now owns 1,325,152 shares of the financial services provider’s stock worth $12,959,000 after buying an additional 23,832 shares in the last quarter. Whittier Trust Co. lifted its position in Vereit by 22.5% in the 3rd quarter. Whittier Trust Co. now owns 11,066 shares of the financial services provider’s stock worth $108,000 after buying an additional 2,033 shares in the last quarter. Oakbrook Investments LLC lifted its position in Vereit by 9.2% in the 3rd quarter. Oakbrook Investments LLC now owns 21,400 shares of the financial services provider’s stock worth $209,000 after buying an additional 1,800 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Vereit by 18.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 854,768 shares of the financial services provider’s stock worth $8,360,000 after buying an additional 136,167 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in Vereit by 34.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 3,704,599 shares of the financial services provider’s stock worth $36,232,000 after buying an additional 953,323 shares in the last quarter. Institutional investors own 94.83% of the company’s stock.
VER stock traded up $0.09 on Monday, hitting $9.94. 12,123,682 shares of the company’s stock traded hands, compared to its average volume of 10,296,480. Vereit has a 1-year low of $6.95 and a 1-year high of $10.13. The stock has a market cap of $9.49 billion, a price-to-earnings ratio of 13.81, a P/E/G ratio of 1.39 and a beta of 0.51. The stock has a fifty day moving average of $9.76 and a 200-day moving average of $9.13. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.75.
Vereit (NYSE:VER) last released its earnings results on Wednesday, August 7th. The financial services provider reported $0.27 EPS for the quarter, beating the consensus estimate of $0.17 by $0.10. Vereit had a net margin of 24.69% and a return on equity of 4.23%. The business had revenue of $312.10 million during the quarter, compared to analyst estimates of $314.95 million. During the same period in the prior year, the business earned $0.18 earnings per share. The business’s quarterly revenue was down 1.1% on a year-over-year basis. On average, equities research analysts anticipate that Vereit will post 0.68 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.138 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.55 annualized dividend and a dividend yield of 5.55%. Vereit’s dividend payout ratio (DPR) is presently 76.39%.
Vereit Company Profile
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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