BMO Capital Markets Analysts Give VEREIT Inc. (VER) a $10.00 Price Target
VEREIT Inc. (NYSE:VER) has been assigned a $10.00 price target by analysts at BMO Capital Markets in a research note issued on Thursday. The firm presently has a “buy” rating on the stock. BMO Capital Markets’ price objective points to a potential upside of 14.68% from the stock’s current price.
A number of other equities research analysts have also recently issued reports on VER. JMP Securities restated a “hold” rating on shares of VEREIT in a report on Sunday, November 6th. Zacks Investment Research cut shares of VEREIT from a “buy” rating to a “hold” rating in a research note on Saturday, November 12th. DA Davidson reiterated a “hold” rating on shares of VEREIT in a research note on Thursday, November 10th. Mizuho began coverage on shares of VEREIT in a research note on Thursday, October 13th. They issued a “neutral” rating and a $9.50 target price for the company. Finally, Bank of America cut shares of VEREIT from a “neutral” rating to an “underperform” rating in a research note on Monday, December 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $10.14.
Shares of VEREIT (NYSE:VER) traded down 0.57% during trading on Thursday, reaching $8.67. The company had a trading volume of 2,562,881 shares. The company’s market cap is $8.44 billion. The firm has a 50-day moving average of $8.46 and a 200-day moving average of $9.59. VEREIT has a 12-month low of $6.68 and a 12-month high of $11.09.
VEREIT (NYSE:VER) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.01. VEREIT had a negative net margin of 18.02% and a negative return on equity of 3.12%. The company earned $362.90 million during the quarter, compared to analysts’ expectations of $320.29 million. During the same period in the prior year, the company earned $0.21 earnings per share. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. On average, equities research analysts anticipate that VEREIT will post ($0.14) EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th will be paid a dividend of $0.1375 per share. This represents a $0.55 dividend on an annualized basis and a yield of 6.31%. The ex-dividend date of this dividend is Wednesday, December 28th. VEREIT’s dividend payout ratio is -141.02%.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Quadrant Capital Group LLC boosted its position in shares of VEREIT by 0.5% in the second quarter. Quadrant Capital Group LLC now owns 10,366 shares of the company’s stock worth $104,000 after buying an additional 56 shares in the last quarter. Trust Co. of Vermont raised its stake in VEREIT by 152.5% in the third quarter. Trust Co. of Vermont now owns 10,100 shares of the company’s stock valued at $105,000 after buying an additional 6,100 shares during the last quarter. United Services Automobile Association purchased a new stake in VEREIT during the third quarter valued at $105,000. Crossvault Capital Management LLC purchased a new stake in VEREIT during the second quarter valued at $106,000. Finally, Mizuho Asset Management Co. Ltd. purchased a new stake in VEREIT during the second quarter valued at $106,000. Hedge funds and other institutional investors own 82.27% of the company’s stock.
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