Vereit Inc (ver) Increases Dividend to $0.14 Per Share
Vereit Inc (NYSE:ver) declared a dividend on Thursday, February 23rd. Shareholders of record on Friday, March 31st will be paid a dividend of 0.138 per share by the financial services provider on Monday, April 17th. The ex-dividend date is Wednesday, March 29th. This is a boost from Vereit’s previous dividend of $0.08.
Vereit has a dividend payout ratio of 77.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Vereit to earn $0.04 per share next year, which means the company may not be able to cover its $0.55 annual dividend with an expected future payout ratio of 1,375.0%.
Shares of Vereit (NYSE:VER) traded up 0.57% on Thursday, reaching $8.88. The company’s stock had a trading volume of 7,728,369 shares. The stock’s market capitalization is $8.65 billion. Vereit has a 1-year low of $7.99 and a 1-year high of $11.09. The stock has a 50-day moving average of $8.59 and a 200 day moving average of $8.73.
Vereit (NYSE:VER) last issued its quarterly earnings data on Thursday, February 23rd. The financial services provider reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.18. The company had revenue of $351.87 million for the quarter, compared to analyst estimates of $309.69 million. Vereit had a negative net margin of 18.02% and a negative return on equity of 3.12%. The company’s revenue was down 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 earnings per share. On average, equities analysts forecast that Vereit will post $0.03 EPS for the current year.
Several equities analysts have recently weighed in on VER shares. Zacks Investment Research raised shares of Vereit from a “sell” rating to a “hold” rating and set a $9.50 price objective on the stock in a research report on Tuesday, February 7th. BMO Capital Markets set a $10.00 price target on shares of Vereit and gave the company a “buy” rating in a research note on Wednesday, March 22nd. Finally, JMP Securities upgraded shares of Vereit from a “market perform” rating to an “outperform” rating in a research note on Monday, January 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Vereit has a consensus rating of “Hold” and an average price target of $10.00.
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Vereit Company Profile
VEREIT, Inc is a full-service real estate operating company. The Company operates through two business segments: real estate investment (REI) segment and investment management segment, Cole Capital. As of December 31, 2016, through its REI segment, the Company owned and managed a portfolio of 4,142 retail, restaurant, office and industrial real estate properties with an aggregate of 93.3 million square feet, which are located in 49 states, Puerto Rico and Canada.
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