Legal & General Group Plc Grows Holdings in VEREIT Inc. (VER)
Legal & General Group Plc raised its stake in VEREIT Inc. (NYSE:VER) by 8.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,037,055 shares of the financial services provider’s stock after buying an additional 559,873 shares during the quarter. Legal & General Group Plc owned 0.72% of VEREIT worth $58,339,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in VER. Thompson Siegel & Walmsley LLC acquired a new position in VEREIT in the 3rd quarter valued at approximately $41,057,000. Russell Investments Group Ltd. grew its position in VEREIT by 253.2% in the third quarter. Russell Investments Group Ltd. now owns 4,373,318 shares of the financial services provider’s stock worth $36,257,000 after acquiring an additional 3,135,055 shares in the last quarter. Cbre Clarion Securities LLC grew 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 acquiring an additional 2,004,074 shares in the last quarter. Fosun International Ltd bought a new stake in VEREIT in the second quarter worth approximately $15,622,000. Finally, Prudential Financial Inc. grew its position in VEREIT by 22.8% in the second quarter. Prudential Financial Inc. now owns 9,987,986 shares of the financial services provider’s stock worth $81,303,000 after acquiring an additional 1,855,265 shares in the last quarter. Hedge funds and other institutional investors own 85.28% of the company’s stock.
VEREIT Inc. (NYSE:VER) traded down $0.01 during mid-day trading on Tuesday, reaching $7.87. 5,702,800 shares of the company’s stock traded hands, compared to its average volume of 8,519,046. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.37 and a quick ratio of 0.37. The company has a market capitalization of $7,676.92, a P/E ratio of 10.80 and a beta of 0.73. VEREIT Inc. has a 12 month low of $7.44 and a 12 month high of $9.12.
VER has been the subject of several recent research reports. Zacks Investment Research downgraded 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, Stifel Nicolaus reissued a “hold” rating on shares of VEREIT in a research report on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. VEREIT currently has an average rating of “Hold” and an average price target of $9.81.
VEREIT, Inc is a full-service real estate operating company. The Company owns and manages a diversified portfolio of retail, restaurant, office and industrial real estate assets. It operates through two segments: real estate investment (REI) segment and its investment management segment, Cole Capital.
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