LPL Financial LLC Increases Stake in Vereit Inc (VER)
LPL Financial LLC lifted its holdings in Vereit Inc (NYSE:VER) by 120.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 883,589 shares of the financial services provider’s stock after purchasing an additional 483,566 shares during the quarter. LPL Financial LLC’s holdings in Vereit were worth $6,883,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in VER. The Manufacturers Life Insurance Company lifted its position in shares of Vereit by 97.4% in the second quarter. The Manufacturers Life Insurance Company now owns 67,713 shares of the financial services provider’s stock worth $551,000 after purchasing an additional 33,411 shares in the last quarter. Nationwide Fund Advisors bought a new stake in shares of Vereit in the third quarter worth $3,176,000. Crossmark Global Holdings Inc. bought a new stake in shares of Vereit in the third quarter worth $170,000. Stevens Capital Management LP bought a new stake in shares of Vereit in the third quarter worth $149,000. Finally, American Century Companies Inc. lifted its position in shares of Vereit by 18.0% in the third quarter. American Century Companies Inc. now owns 107,570 shares of the financial services provider’s stock worth $892,000 after purchasing an additional 16,437 shares in the last quarter. 86.13% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently commented on the stock. ValuEngine lowered shares of Vereit from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. JMP Securities cut their price objective on shares of Vereit from $9.50 to $9.00 and set a “market outperform” rating on the stock in a research report on Friday, February 23rd. Zacks Investment Research upgraded shares of Vereit from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Mizuho restated a “hold” rating and set a $7.00 target price on shares of Vereit in a report on Friday, March 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $8.56.
Vereit (NYSE:VER) last issued its earnings results on Thursday, February 22nd. The financial services provider reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01. The business had revenue of $316.60 million for the quarter, compared to the consensus estimate of $284.78 million. Vereit had a net margin of 2.38% and a return on equity of 0.75%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 earnings per share. analysts anticipate that Vereit Inc will post 0.72 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 30th will be issued a dividend of $0.138 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.55 dividend on an annualized basis and a yield of 8.13%. Vereit’s payout ratio is -5,494.51%.
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Vereit Company Profile
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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