Financial Partners Group Inc Buys New Position in Vereit Inc (VER)
Financial Partners Group Inc bought a new stake in Vereit Inc (NYSE:VER) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 21,778 shares of the financial services provider’s stock, valued at approximately $170,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ffcm LLC bought a new stake in Vereit in the 3rd quarter valued at approximately $111,000. Sanctuary Wealth Management L.L.C. bought a new stake in Vereit in the 4th quarter valued at approximately $109,000. Financial Gravity Companies Inc. bought a new stake in Vereit in the 4th quarter valued at approximately $105,000. Fox Run Management L.L.C. bought a new stake in Vereit in the 4th quarter valued at approximately $114,000. Finally, Advisors Asset Management Inc. lifted its stake in Vereit by 408.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 17,100 shares of the financial services provider’s stock valued at $142,000 after acquiring an additional 13,738 shares in the last quarter. Hedge funds and other institutional investors own 86.17% of the company’s stock.
Several equities research analysts have commented on the company. Mizuho restated a “hold” rating and issued a $7.00 target price on shares of Vereit in a research note on Friday, March 2nd. JMP Securities cut their target price on Vereit from $9.50 to $9.00 and set a “market outperform” rating on the stock in a research note on Friday, February 23rd. Zacks Investment Research upgraded Vereit from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, ValuEngine cut Vereit from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Vereit currently has an average rating of “Hold” and an average price target of $8.85.
Vereit (NYSE:VER) last announced its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. Vereit had a return on equity of 0.75% and a net margin of 2.38%. The company had revenue of $316.60 million for the quarter, compared to analysts’ expectations of $284.78 million. During the same quarter in the prior year, the business posted $0.18 EPS. The business’s revenue was down 3.3% compared to the same quarter last year. research analysts forecast that Vereit Inc will post 0.72 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Friday, March 30th will be paid a dividend of $0.138 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 7.83%. The ex-dividend date of this dividend is Wednesday, March 28th. Vereit’s dividend payout ratio is currently -5,494.51%.
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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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