VEREIT Inc. (NYSE:VER) has earned a consensus rating of “Hold” from the ten analysts that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $9.88.

Several equities analysts recently commented on VER shares. Zacks Investment Research upgraded VEREIT from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a research report on Wednesday, July 19th. BidaskClub upgraded VEREIT from a “sell” rating to a “hold” rating in a research report on Sunday, July 16th. ValuEngine cut VEREIT from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Evercore ISI upgraded VEREIT to an “outperform” rating and set a $9.00 target price for the company in a research report on Monday, May 15th.

Shares of VEREIT (NYSE VER) traded up 0.96% during mid-day trading on Friday, hitting $8.44. The company had a trading volume of 14,512,531 shares. The company’s market capitalization is $8.22 billion. VEREIT has a one year low of $7.44 and a one year high of $10.76. The company’s 50-day moving average is $8.44 and its 200 day moving average is $8.39.

VEREIT (NYSE:VER) last announced its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.16. The company had revenue of $336.90 million during the quarter, compared to analysts’ expectations of $296.02 million. VEREIT had a negative net margin of 2.72% and a negative return on equity of 0.44%. VEREIT’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.19 earnings per share. On average, equities research analysts forecast that VEREIT will post ($1.70) EPS for the current fiscal year.

VEREIT declared that its board has initiated a share repurchase program on Monday, May 15th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be issued a $0.138 dividend. This is a boost from VEREIT’s previous quarterly dividend of $0.14. This represents a $0.55 dividend on an annualized basis and a dividend yield of 6.54%. The ex-dividend date is Thursday, September 28th. VEREIT’s dividend payout ratio is presently -499.95%.

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in VEREIT by 2.5% in the first quarter. Vanguard Group Inc. now owns 155,944,544 shares of the financial services provider’s stock worth $1,323,969,000 after buying an additional 3,799,549 shares during the last quarter. BlackRock Inc. boosted its position in VEREIT by 1.4% in the second quarter. BlackRock Inc. now owns 77,878,258 shares of the financial services provider’s stock worth $633,927,000 after buying an additional 1,087,580 shares during the last quarter. Cbre Clarion Securities LLC boosted its position in VEREIT by 5.4% in the second quarter. Cbre Clarion Securities LLC now owns 38,947,554 shares of the financial services provider’s stock worth $317,033,000 after buying an additional 2,004,074 shares during the last quarter. CI Investments Inc. boosted its position in VEREIT by 0.9% in the second quarter. CI Investments Inc. now owns 24,529,315 shares of the financial services provider’s stock worth $199,669,000 after buying an additional 220,300 shares during the last quarter. Finally, Glenview Capital Management LLC boosted its position in VEREIT by 5.9% in the second quarter. Glenview Capital Management LLC now owns 17,946,243 shares of the financial services provider’s stock worth $146,082,000 after buying an additional 1,000,000 shares during the last quarter. Hedge funds and other institutional investors own 86.02% of the company’s stock.

TRADEMARK VIOLATION WARNING: This news story was originally posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this news story on another website, it was copied illegally and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://www.thecerbatgem.com/2017/08/31/vereit-inc-ver-receives-average-recommendation-of-hold-from-analysts.html.

About VEREIT

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.

Analyst Recommendations for VEREIT (NYSE:VER)

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.