VEREIT (VER) Receives Coverage Optimism Score of 0.24
Press coverage about VEREIT (NYSE:VER) has been trending somewhat positive recently, according to Accern Sentiment. The research group ranks the sentiment of news coverage by reviewing more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. VEREIT earned a news impact score of 0.24 on Accern’s scale. Accern also gave media coverage about the financial services provider an impact score of 0 out of 100, indicating that recent news coverage is extremely unlikely to have an effect on the stock’s share price in the near future.
Here are some of the news headlines that may have effected Accern Sentiment Analysis’s rankings:
- VEREIT Inc. (NYSE:VER) Issues Quarterly Earnings Results, Hits Estimates (americanbankingnews.com)
- VEREIT Inc. (NYSE:VER) Releases FY17 Earnings Guidance (americanbankingnews.com)
- VEREIT Inc. (NYSE:VER) Expected to Announce Earnings of $0.18 Per Share (americanbankingnews.com)
- Vereit lifts bottom end of full-year guidance – Seeking Alpha (seekingalpha.com)
- VEREIT® Announces Second Quarter 2017 Operating Results (finance.yahoo.com)
Shares of VEREIT (NYSE:VER) traded up 2.39% during mid-day trading on Thursday, hitting $8.56. 8,087,943 shares of the stock were exchanged. The stock’s market cap is $8.34 billion. VEREIT has a 12 month low of $7.44 and a 12 month high of $10.77. The stock’s 50 day moving average is $8.27 and its 200-day moving average is $8.40.
VEREIT (NYSE:VER) last posted its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. VEREIT had a negative net margin of 4.77% and a negative return on equity of 0.80%. The firm had revenue of $336.90 million for the quarter, compared to the consensus estimate of $296.02 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was down 9.2% compared to the same quarter last year. On average, analysts anticipate that VEREIT will post ($1.70) EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were issued a dividend of $0.1375 per share. The ex-dividend date was Wednesday, June 28th. This represents a $0.55 annualized dividend and a dividend yield of 6.43%. VEREIT’s dividend payout ratio (DPR) is currently -366.67%.
VEREIT declared that its board has initiated a stock buyback plan on Monday, May 15th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
A number of analysts have weighed in on the stock. BidaskClub lowered shares of VEREIT from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Evercore ISI restated an “in-line” rating and set a $9.00 price objective on shares of VEREIT in a research note on Wednesday, April 26th. ValuEngine lowered shares of VEREIT from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research upgraded shares of VEREIT from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a research note on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $9.80.
In related news, insider Hugh R. Frater acquired 10,000 shares of the business’s stock in a transaction dated Friday, May 5th. The shares were purchased at an average price of $7.81 per share, for a total transaction of $78,100.00. Following the completion of the acquisition, the insider now directly owns 37,486 shares in the company, valued at approximately $292,765.66. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Glenn J. Rufrano acquired 32,000 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were bought at an average price of $7.81 per share, for a total transaction of $249,920.00. Following the acquisition, the chief executive officer now owns 1,962,657 shares of the company’s stock, valued at $15,328,351.17. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 91,725 shares of company stock worth $706,509. Corporate insiders own 0.09% of the company’s stock.
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.
Receive News & Stock Ratings for VEREIT Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VEREIT Inc. and related stocks with our FREE daily email newsletter.