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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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)

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