VEREIT Inc. (VER) Given Consensus Rating of “Hold” by Brokerages
VEREIT Inc. (NYSE:VER) has been assigned an average rating of “Hold” from the nine analysts that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $10.00.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research cut shares of VEREIT from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. ValuEngine raised shares of VEREIT from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. Finally, BidaskClub raised shares of VEREIT from a “sell” rating to a “hold” rating in a research report on Sunday, July 16th.
VEREIT (VER) opened at 8.41 on Friday. VEREIT has a 52-week low of $7.44 and a 52-week high of $9.81. The firm’s market capitalization is $8.19 billion. The company has a 50 day moving average price of $8.47 and a 200 day moving average price of $8.36.
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). VEREIT had a negative net margin of 2.72% and a negative return on equity of 0.44%. The company had revenue of $336.90 million during the quarter, compared to analysts’ expectations of $296.02 million. During the same period last year, the firm earned $0.19 earnings per share. VEREIT’s revenue was down 9.2% on a year-over-year basis. On average, equities analysts forecast that VEREIT will post ($1.70) EPS for the current fiscal year.
The firm also recently announced 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 represents a $0.55 dividend on an annualized basis and a dividend yield of 6.56%. This is a boost from VEREIT’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, September 28th. VEREIT’s dividend payout ratio is presently -499.95%.
Several large investors have recently made changes to their positions in VER. WINTON GROUP Ltd purchased a new stake in shares of VEREIT in the second quarter valued at about $100,000. Strid Group LLC acquired a new position in shares of VEREIT during the second quarter worth about $105,000. Sheaff Brock Investment Advisors LLC increased its stake in shares of VEREIT by 26.8% during the second quarter. Sheaff Brock Investment Advisors LLC now owns 14,033 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 2,969 shares during the period. IBM Retirement Fund increased its stake in shares of VEREIT by 31.3% during the second quarter. IBM Retirement Fund now owns 14,253 shares of the financial services provider’s stock worth $116,000 after acquiring an additional 3,395 shares during the period. Finally, Stratos Wealth Partners LTD. increased its stake in shares of VEREIT by 18.1% during the second quarter. Stratos Wealth Partners LTD. now owns 14,550 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 2,234 shares during the period. 85.99% of the stock is owned by institutional investors and hedge funds.
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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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