Balyasny Asset Management LLC Has $15.67 Million Holdings in VEREIT Inc. (VER)
Balyasny Asset Management LLC raised its stake in VEREIT Inc. (NYSE:VER) by 16.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,925,130 shares of the financial services provider’s stock after acquiring an additional 265,657 shares during the quarter. Balyasny Asset Management LLC owned approximately 0.20% of VEREIT worth $15,671,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in VER. Strid Group LLC acquired a new stake in shares of VEREIT during the 2nd quarter valued at about $105,000. Sheaff Brock Investment Advisors LLC increased its stake in shares of VEREIT by 26.8% in the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 14,033 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 2,969 shares in the last quarter. IBM Retirement Fund increased its stake in shares of VEREIT by 31.3% in the 2nd quarter. IBM Retirement Fund now owns 14,253 shares of the financial services provider’s stock valued at $116,000 after purchasing an additional 3,395 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in shares of VEREIT by 18.1% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 14,550 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 2,234 shares in the last quarter. Finally, Dynamic Advisors Solutions LLC increased its stake in shares of VEREIT by 0.9% in the 2nd quarter. Dynamic Advisors Solutions LLC now owns 14,574 shares of the financial services provider’s stock valued at $119,000 after purchasing an additional 127 shares in the last quarter. 85.99% of the stock is owned by institutional investors.
Shares of VEREIT Inc. (NYSE VER) opened at 8.48 on Wednesday. The stock has a 50 day moving average of $8.51 and a 200 day moving average of $8.36. The firm’s market cap is $8.26 billion. VEREIT Inc. has a 12 month low of $7.44 and a 12 month high of $10.13.
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 analysts’ consensus estimates of $0.18 by ($0.16). The firm 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%. The company’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.19 EPS. On average, equities research analysts expect that VEREIT Inc. will post ($1.70) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given a $0.138 dividend. The ex-dividend date is Thursday, September 28th. This is a positive change from VEREIT’s previous quarterly dividend of $0.14. This represents a $0.55 annualized dividend and a dividend yield of 6.51%. VEREIT’s payout ratio is currently -499.95%.
A number of equities analysts recently weighed in on VER shares. Zacks Investment Research cut VEREIT from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. BidaskClub downgraded VEREIT from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $9.80.
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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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