Vereit Inc. (VER) Receives Consensus Rating of “Buy” from Brokerages
Vereit Inc. (NYSE:VER) has been given an average recommendation of “Buy” by the seven analysts that are currently covering the company. Three research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $10.09.
VER has been the subject of several research reports. BMO Capital Markets reiterated a “buy” rating and issued a $11.00 target price on shares of Vereit in a report on Thursday, June 16th. Zacks Investment Research upgraded Vereit from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. Finally, Capital One Financial Corp. upgraded Vereit from an “equal weight” rating to an “overweight” rating in a report on Friday, August 5th.
Vereit (NYSE:VER) traded up 0.9376% during midday trading on Thursday, reaching $9.7001. 3,864,864 shares of the company’s stock traded hands. The stock’s market cap is $8.77 billion. Vereit has a one year low of $6.68 and a one year high of $11.09. The stock’s 50 day moving average price is $10.14 and its 200-day moving average price is $9.87.
Vereit (NYSE:VER) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.19 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.19. The company had revenue of $371 million for the quarter, compared to the consensus estimate of $323.34 million. Vereit had a negative return on equity of 3.36% and a negative net margin of 19.21%. Vereit’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.22 EPS. Equities analysts predict that Vereit will post $0.77 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be paid a dividend of $0.1375 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.72%. The ex-dividend date is Wednesday, September 28th. Vereit’s dividend payout ratio (DPR) is currently -134.15%.
Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Vereit by 1.1% in the second quarter. Vanguard Group Inc. now owns 135,834,331 shares of the company’s stock worth $1,377,360,000 after buying an additional 1,416,327 shares during the period. FMR LLC boosted its stake in shares of Vereit by 20.3% in the second quarter. FMR LLC now owns 82,998,582 shares of the company’s stock worth $841,606,000 after buying an additional 14,029,056 shares during the period. Cbre Clarion Securities LLC boosted its stake in shares of Vereit by 2.7% in the second quarter. Cbre Clarion Securities LLC now owns 35,253,903 shares of the company’s stock worth $357,475,000 after buying an additional 923,858 shares during the period. State Street Corp boosted its stake in shares of Vereit by 1.1% in the first quarter. State Street Corp now owns 21,399,450 shares of the company’s stock worth $189,813,000 after buying an additional 238,808 shares during the period. Finally, BlackRock Fund Advisors boosted its stake in shares of Vereit by 3.3% in the second quarter. BlackRock Fund Advisors now owns 13,348,991 shares of the company’s stock worth $135,359,000 after buying an additional 427,627 shares during the period. Hedge funds and other institutional investors own 75.58% of the company’s stock.
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