Equities Analysts Set Expectations for Vereit Inc.’s Q4 2016 Earnings (VER)
Vereit Inc. (NYSE:VER) – Equities researchers at DA Davidson lowered their Q4 2016 earnings estimates for Vereit in a report issued on Thursday. DA Davidson analyst B. Oxford now forecasts that the firm will post earnings per share of $0.17 for the quarter, down from their prior forecast of $0.18. DA Davidson currently has a “Hold” rating on the stock. DA Davidson also issued estimates for Vereit’s Q4 2017 earnings at $0.18 EPS and FY2018 earnings at $0.76 EPS.
Vereit (NYSE:VER) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.01. The firm had revenue of $362.90 million for the quarter, compared to analysts’ expectations of $320.29 million. Vereit had a negative return on equity of 3.12% and a negative net margin of 18.02%. The firm’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 EPS.
Several other analysts also recently weighed in on the company. Zacks Investment Research downgraded Vereit from a “buy” rating to a “hold” rating in a research note on Saturday. JMP Securities restated a “hold” rating on shares of Vereit in a research note on Sunday, November 6th. Mizuho began coverage on Vereit in a research note on Thursday, October 13th. They set a “neutral” rating and a $9.50 target price for the company. Finally, Capital One Financial Corp. upgraded Vereit from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 5th. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Vereit currently has a consensus rating of “Buy” and a consensus price target of $9.97.
Vereit (NYSE:VER) opened at 8.34 on Friday. The company has a 50-day moving average price of $9.54 and a 200 day moving average price of $9.92. The firm’s market cap is $8.12 billion. Vereit has a 12 month low of $6.68 and a 12 month high of $11.09.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th will be issued a $0.1375 dividend. The ex-dividend date is Wednesday, December 28th. This represents a $0.55 dividend on an annualized basis and a yield of 6.59%. Vereit’s dividend payout ratio is currently -141.02%.
A number of institutional investors have recently modified their holdings of the company. Quadrant Capital Group LLC boosted its position in shares of Vereit by 0.5% in the second quarter. Quadrant Capital Group LLC now owns 10,366 shares of the company’s stock worth $104,000 after buying an additional 56 shares in the last quarter. Trust Co. of Vermont boosted its position in shares of Vereit by 152.5% in the third quarter. Trust Co. of Vermont now owns 10,100 shares of the company’s stock worth $105,000 after buying an additional 6,100 shares in the last quarter. Crossvault Capital Management LLC acquired a new position in shares of Vereit during the second quarter worth about $106,000. Regal Investment Advisors LLC acquired a new position in shares of Vereit during the second quarter worth about $106,000. Finally, Mizuho Asset Management Co. Ltd. acquired a new position in shares of Vereit during the second quarter worth about $106,000. 75.74% of the stock is currently owned by hedge funds and other institutional investors.
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