VEREIT Inc. (VER) Shares Sold by Wedbush Securities Inc.
Wedbush Securities Inc. lowered its position in shares of VEREIT Inc. (NYSE:VER) by 2.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,252 shares of the financial services provider’s stock after selling 947 shares during the period. Wedbush Securities Inc.’s holdings in VEREIT were worth $376,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of VER. Teachers Advisors LLC raised its position in shares of VEREIT by 1.9% in the fourth quarter. Teachers Advisors LLC now owns 1,282,304 shares of the financial services provider’s stock worth $10,848,000 after buying an additional 23,743 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of VEREIT by 40.5% in the fourth quarter. Macquarie Group Ltd. now owns 433,874 shares of the financial services provider’s stock worth $3,670,000 after buying an additional 125,018 shares during the last quarter. Creative Planning raised its position in shares of VEREIT by 9.0% in the first quarter. Creative Planning now owns 13,009 shares of the financial services provider’s stock worth $110,000 after buying an additional 1,069 shares during the last quarter. Capstone Asset Management Co. raised its position in shares of VEREIT by 4.1% in the first quarter. Capstone Asset Management Co. now owns 18,452 shares of the financial services provider’s stock worth $157,000 after buying an additional 720 shares during the last quarter. Finally, CWM LLC raised its position in shares of VEREIT by 28.0% in the first quarter. CWM LLC now owns 18,095 shares of the financial services provider’s stock worth $154,000 after buying an additional 3,953 shares during the last quarter. Hedge funds and other institutional investors own 84.50% of the company’s stock.
VEREIT Inc. (NYSE VER) opened at 8.52 on Friday. VEREIT Inc. has a 52-week low of $7.44 and a 52-week high of $10.76. The stock’s market cap is $8.30 billion. The company has a 50-day moving average price of $8.35 and a 200 day moving average price of $8.40.
VEREIT (NYSE:VER) last released its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.16. The business had revenue of $336.90 million during the quarter, compared to analyst estimates of $296.02 million. VEREIT had a negative net margin of 2.72% and a negative return on equity of 0.44%. The firm’s revenue was down 9.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 EPS. On average, analysts expect that VEREIT Inc. will post ($1.70) earnings per share for the current year.
VEREIT announced that its board has authorized a stock repurchase plan on Monday, May 15th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be issued a $0.138 dividend. This is an increase from VEREIT’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.55 dividend on an annualized basis and a yield of 6.48%. VEREIT’s dividend payout ratio is presently -499.95%.
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Several research analysts recently commented on the company. Evercore ISI reiterated an “in-line” rating and issued a $9.00 price target on shares of VEREIT in a research report on Wednesday, April 26th. Zacks Investment Research lowered VEREIT from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. ValuEngine lowered VEREIT from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BidaskClub lowered VEREIT from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $9.80.
In other VEREIT news, insider William Craig Jr. Miller acquired 12,725 shares of the business’s stock in a transaction on Monday, May 22nd. The stock was bought at an average price of $7.86 per share, for a total transaction of $100,018.50. Following the acquisition, the insider now owns 223,381 shares in the company, valued at $1,755,774.66. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is currently owned by corporate insiders.
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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