Vereit Inc. (VER) Given Average Rating of “Buy” by Brokerages
Vereit Inc. (NYSE:VER) has earned a consensus recommendation of “Buy” from the nine research firms that are presently covering the stock. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $9.96.
VER has been the subject of a number of analyst reports. Zacks Investment Research raised Vereit from a “sell” rating to a “hold” rating and set a $11.00 price target for the company in a report on Wednesday, October 26th. JMP Securities reissued a “hold” rating on shares of Vereit in a report on Sunday, November 6th. DA Davidson reissued a “hold” rating on shares of Vereit in a report on Thursday, November 10th. Capital One Financial Corp. raised Vereit from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 5th. Finally, 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.
A number of hedge funds have recently modified their holdings of VER. Cornerstone Capital Management Holdings LLC. boosted its stake in shares of Vereit by 0.4% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 1,648,125 shares of the company’s stock valued at $17,090,000 after buying an additional 7,287 shares during the last quarter. Verition Fund Management LLC boosted its stake in shares of Vereit by 177.3% in the third quarter. Verition Fund Management LLC now owns 38,007 shares of the company’s stock valued at $394,000 after buying an additional 24,302 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its stake in shares of Vereit by 36.1% in the third quarter. Candriam Luxembourg S.C.A. now owns 74,073 shares of the company’s stock valued at $768,000 after buying an additional 19,665 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Vereit by 0.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 182,600 shares of the company’s stock valued at $1,894,000 after buying an additional 1,700 shares during the last quarter. Finally, Lombard Odier Asset Management Europe Ltd bought a new stake in shares of Vereit during the third quarter valued at about $199,000. Institutional investors own 78.94% of the company’s stock.
Shares of Vereit (NYSE:VER) remained flat at $8.37 on Thursday. 3,149,092 shares of the company’s stock were exchanged. Vereit has a 52 week low of $6.68 and a 52 week high of $11.09. The company’s 50 day moving average price is $9.38 and its 200 day moving average price is $9.92. The stock’s market capitalization is $8.15 billion.
Vereit (NYSE:VER) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.01. Vereit had a negative return on equity of 3.12% and a negative net margin of 18.02%. The company earned $362.90 million during the quarter, compared to the consensus estimate of $320.29 million. During the same period in the previous year, the company posted $0.21 earnings per share. Vereit’s revenue for the quarter was down 5.7% on a year-over-year basis. Equities research analysts predict that Vereit will post $0.77 EPS for the current fiscal year.
The business 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. This represents a $0.55 annualized dividend and a yield of 6.57%. The ex-dividend date of this dividend is Wednesday, December 28th. Vereit’s payout ratio is currently -141.02%.
Vereit Company Profile
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