Livforsakringsbolaget Skandia Omsesidigt reduced its stake in VEREIT, Inc. (NYSE:VER) by 80.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,481 shares of the financial services provider’s stock after selling 9,926 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in VEREIT were worth $94,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Neo Ivy Capital Management bought a new position in VEREIT in the 4th quarter worth about $48,000. International Assets Investment Management LLC purchased a new stake in shares of VEREIT in the 4th quarter worth approximately $58,000. Luken Investment Analytics LLC purchased a new stake in shares of VEREIT in the 4th quarter worth approximately $72,000. Sterling Financial Planning Inc. purchased a new stake in shares of VEREIT in the 4th quarter worth approximately $83,000. Finally, Fortis Group Advisors LLC purchased a new stake in shares of VEREIT in the 3rd quarter worth approximately $95,000.
Shares of VEREIT stock opened at $41.15 on Thursday. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.87. VEREIT, Inc. has a 12-month low of $21.90 and a 12-month high of $41.15. The firm has a market capitalization of $9.42 billion, a price-to-earnings ratio of 34.29 and a beta of 1.06. The firm’s 50 day simple moving average is $38.63 and its two-hundred day simple moving average is $36.14.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of VEREIT from a “buy” rating to a “hold” rating in a research report on Saturday, January 16th. JPMorgan Chase & Co. cut shares of VEREIT from an “overweight” rating to a “neutral” rating and set a $40.00 price target for the company. in a research report on Monday, December 21st. The Goldman Sachs Group began coverage on shares of VEREIT in a research report on Friday, January 22nd. They issued a “sell” rating for the company. Capital One Financial raised shares of VEREIT from an “equal weight” rating to an “overweight” rating and set a $48.00 target price for the company in a research report on Thursday, February 25th. Finally, Mizuho cut shares of VEREIT from a “buy” rating to an “equal weight” rating and increased their target price for the company from $39.00 to $44.00 in a research report on Thursday, March 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $40.54.
VEREIT Company Profile
VEREIT, Inc operates as a real estate investment trust, which provides real estate investment services. It owns and manages the portfolios of single-tenant commercial properties in the U.S. The company operates through the following segments: Real Estate Investment and Cole Capital. The Real Estate Investment segment acquires, owns and operates single tenant, freestanding, commercial real estate properties, primarily subject to long term net leases with high credit quality tenants.
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