Zacks: Analysts Anticipate Vereit Inc (VER) Will Post Earnings of $0.18 Per Share
Wall Street brokerages expect Vereit Inc (NYSE:VER) to announce earnings per share of $0.18 for the current quarter, according to Zacks. Four analysts have made estimates for Vereit’s earnings. The highest EPS estimate is $0.18 and the lowest is $0.16. Vereit reported earnings per share of $0.19 during the same quarter last year, which would suggest a negative year over year growth rate of 5.3%. The business is expected to issue its next quarterly earnings results before the market opens on Thursday, August 3rd.
On average, analysts expect that Vereit will report full-year earnings of $0.71 per share for the current financial year, with EPS estimates ranging from $0.66 to $0.74. For the next year, analysts expect that the business will report earnings of $0.74 per share, with EPS estimates ranging from $0.70 to $0.76. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Vereit.
Vereit (NYSE:VER) last released its earnings results on Thursday, May 4th. The financial services provider reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. Vereit had a net margin of 4.25% and a negative return on equity of 0.18%. The firm had revenue of $348.03 million for the quarter, compared to the consensus estimate of $297.94 million. During the same quarter in the previous year, the firm earned $0.21 earnings per share. The company’s quarterly revenue was down 5.7% compared to the same quarter last year.
VER has been the topic of a number of research analyst reports. 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. ValuEngine cut shares of Vereit from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research raised shares of Vereit from a “sell” rating to a “hold” rating in a research note on Wednesday, May 10th. Evercore ISI reissued an “in-line” rating and issued a $9.00 price target on shares of Vereit in a research note on Wednesday, April 26th. Finally, BidaskClub lowered Vereit from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Vereit has an average rating of “Hold” and an average price target of $9.80.
In other Vereit news, CEO Glenn J. Rufrano acquired 32,000 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was purchased at an average cost of $7.81 per share, with a total value of $249,920.00. Following the transaction, the chief executive officer now owns 1,962,657 shares of the company’s stock, valued at $15,328,351.17. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Thomas W. Roberts acquired 15,000 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The shares were acquired at an average cost of $7.60 per share, with a total value of $114,000.00. Following the completion of the transaction, the insider now directly owns 599,876 shares in the company, valued at approximately $4,559,057.60. The disclosure for this purchase can be found here. Insiders acquired a total of 91,725 shares of company stock worth $706,509 in the last 90 days. 0.09% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of VER. Quadrant Capital Group LLC increased its position in Vereit by 10.2% in the first quarter. Quadrant Capital Group LLC now owns 12,329 shares of the financial services provider’s stock valued at $101,000 after buying an additional 1,140 shares in the last quarter. Stratos Wealth Partners LTD. purchased a new position in Vereit during the first quarter valued at $105,000. Creative Planning increased its position in Vereit by 9.0% in the first quarter. Creative Planning now owns 13,009 shares of the financial services provider’s stock valued at $110,000 after buying an additional 1,069 shares in the last quarter. V Wealth Management LLC increased its position in Vereit by 4.3% in the first quarter. V Wealth Management LLC now owns 14,017 shares of the financial services provider’s stock valued at $119,000 after buying an additional 578 shares in the last quarter. Finally, Dynamic Advisors Solutions LLC increased its position in Vereit by 0.9% in the second quarter. Dynamic Advisors Solutions LLC now owns 14,574 shares of the financial services provider’s stock valued at $119,000 after buying an additional 127 shares in the last quarter. 84.95% of the stock is owned by hedge funds and other institutional investors.
Vereit (NYSE:VER) traded up 2.45% during trading on Wednesday, hitting $8.35. 8,070,158 shares of the stock traded hands. Vereit has a 52-week low of $7.44 and a 52-week high of $11.09. The stock has a 50 day moving average price of $8.11 and a 200-day moving average price of $8.44. The stock’s market cap is $8.13 billion.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be issued a $0.1375 dividend. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $0.55 dividend on an annualized basis and a yield of 6.59%. Vereit’s payout ratio is currently -366.67%.
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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