According to Zacks, “VEREIT, Inc. is a real estate operating company. The Company owns and manages a diversified portfolio of retail, restaurant, office and industrial real estate assets. VEREIT, Inc., formerly known as American Realty Capital Properties Inc., is based in Phoenix, United States. “
Other analysts have also issued reports about the company. BMO Capital Markets started coverage on Vereit in a research note on Friday, October 25th. They issued an outperform rating and a $11.00 price target on the stock. Evercore ISI set a $9.00 price target on Vereit and gave the stock a hold rating in a research note on Wednesday, August 7th. Morgan Stanley raised their price target on Vereit from $9.00 to $9.50 and gave the stock an equal weight rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. raised their price target on Vereit from $10.00 to $11.00 and gave the stock an overweight rating in a research note on Thursday, October 10th. Finally, TheStreet raised Vereit from a c rating to a b- rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $9.94.
VER opened at $9.36 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.75. The firm has a market cap of $9.24 billion, a P/E ratio of 13.00, a PEG ratio of 1.40 and a beta of 0.57. Vereit has a 52 week low of $6.95 and a 52 week high of $10.13. The business’s fifty day simple moving average is $9.79 and its 200 day simple moving average is $9.25.
Vereit (NYSE:VER) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.10. The business had revenue of $312.10 million for the quarter, compared to analyst estimates of $314.95 million. Vereit had a return on equity of 4.23% and a net margin of 24.69%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 earnings per share. As a group, equities analysts expect that Vereit will post 0.68 EPS for the current fiscal year.
In other Vereit news, insider Thomas W. Roberts sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $9.87, for a total value of $246,750.00. Following the sale, the insider now directly owns 433,478 shares of the company’s stock, valued at approximately $4,278,427.86. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.22% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC lifted its stake in shares of Vereit by 14.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 7,254,523 shares of the financial services provider’s stock valued at $65,363,000 after purchasing an additional 918,279 shares in the last quarter. Profund Advisors LLC lifted its stake in shares of Vereit by 18.5% in the 2nd quarter. Profund Advisors LLC now owns 65,934 shares of the financial services provider’s stock valued at $594,000 after purchasing an additional 10,315 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in shares of Vereit by 21.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 15,036 shares of the financial services provider’s stock valued at $136,000 after purchasing an additional 2,611 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Vereit by 7.3% in the 2nd quarter. Renaissance Technologies LLC now owns 6,240,854 shares of the financial services provider’s stock valued at $56,230,000 after purchasing an additional 424,000 shares in the last quarter. Finally, AE Wealth Management LLC lifted its stake in shares of Vereit by 152.1% in the 2nd quarter. AE Wealth Management LLC now owns 60,252 shares of the financial services provider’s stock valued at $543,000 after purchasing an additional 36,355 shares in the last quarter. 96.19% of the stock is currently owned by institutional investors and hedge funds.
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.
Featured Story: Understanding Market Liquidity
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Vereit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vereit and related companies with MarketBeat.com's FREE daily email newsletter.