FY2017 Earnings Estimate for VEREIT Inc. (VER) Issued By Capital One Financial Corporation
VEREIT Inc. (NYSE:VER) – Equities researchers at Capital One Financial Corporation reduced their FY2017 earnings per share (EPS) estimates for shares of VEREIT in a note issued to investors on Thursday. Capital One Financial Corporation analyst C. Lucas now expects that the financial services provider will earn $0.70 per share for the year, down from their prior estimate of $0.73.
Other analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of VEREIT from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. BidaskClub raised shares of VEREIT from a “sell” rating to a “hold” rating in a research report on Sunday, July 16th. Finally, ValuEngine raised shares of VEREIT from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. Three analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. VEREIT currently has a consensus rating of “Hold” and an average target price of $9.88.
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VEREIT (NYSE VER) opened at 8.41 on Monday. VEREIT has a 12 month low of $7.44 and a 12 month high of $9.81. The firm’s 50 day moving average is $8.47 and its 200-day moving average is $8.35. The firm’s market cap is $8.19 billion.
VEREIT (NYSE:VER) last announced its earnings results on Thursday, August 3rd. The financial services provider reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.16). VEREIT had a negative return on equity of 0.44% and a negative net margin of 2.72%. The business had revenue of $336.90 million for the quarter, compared to analyst estimates of $296.02 million. During the same quarter in the previous year, the company earned $0.19 EPS. The business’s revenue for the quarter was down 9.2% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a dividend of $0.138 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.55 annualized dividend and a yield of 6.56%. This is a boost from VEREIT’s previous quarterly dividend of $0.14. VEREIT’s payout ratio is currently -499.95%.
A number of large investors have recently modified their holdings of VER. Bank of Montreal Can grew its stake in VEREIT by 1,232.3% during the second quarter. Bank of Montreal Can now owns 9,388,340 shares of the financial services provider’s stock valued at $76,422,000 after acquiring an additional 8,683,687 shares in the last quarter. Park West Asset Management LLC purchased a new position in VEREIT during the first quarter valued at approximately $24,197,000. Cbre Clarion Securities LLC grew its stake in VEREIT by 5.4% during the second quarter. Cbre Clarion Securities LLC now owns 38,947,554 shares of the financial services provider’s stock valued at $317,033,000 after acquiring an additional 2,004,074 shares in the last quarter. Fosun International Ltd purchased a new position in VEREIT during the second quarter valued at approximately $15,622,000. Finally, Prudential Financial Inc. grew its stake in VEREIT by 22.8% during the second quarter. Prudential Financial Inc. now owns 9,987,986 shares of the financial services provider’s stock valued at $81,303,000 after acquiring an additional 1,855,265 shares in the last quarter. 85.99% of the stock is owned by institutional investors.
VEREIT Company Profile
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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