Sigma Planning Corp decreased its position in VEREIT Inc. (NYSE:VER) by 19.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 74,201 shares of the financial services provider’s stock after selling 17,472 shares during the period. Sigma Planning Corp’s holdings in VEREIT were worth $604,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the company. Stratos Wealth Partners LTD. purchased a new position in shares of VEREIT during the first quarter worth approximately $105,000. Creative Planning increased its position in shares of VEREIT by 9.0% in the first quarter. Creative Planning now owns 13,009 shares of the financial services provider’s stock worth $110,000 after buying an additional 1,069 shares during the period. IBM Retirement Fund increased its position in shares of VEREIT by 31.3% in the second quarter. IBM Retirement Fund now owns 14,253 shares of the financial services provider’s stock worth $116,000 after buying an additional 3,395 shares during the period. V Wealth Management LLC increased its position in shares of VEREIT by 4.3% in the first quarter. V Wealth Management LLC now owns 14,017 shares of the financial services provider’s stock worth $119,000 after buying an additional 578 shares during the period. Finally, Dynamic Advisors Solutions LLC increased its position in shares of VEREIT by 0.9% in the second quarter. Dynamic Advisors Solutions LLC now owns 14,574 shares of the financial services provider’s stock worth $119,000 after buying an additional 127 shares during the period. 84.50% of the stock is currently owned by institutional investors.

Shares of VEREIT Inc. (NYSE VER) opened at 8.49 on Tuesday. The firm’s market capitalization is $8.27 billion. VEREIT Inc. has a 12 month low of $7.44 and a 12 month high of $10.76. The firm’s 50 day moving average is $8.33 and its 200-day moving average is $8.39.

VEREIT (NYSE:VER) last released 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. The firm had revenue of $336.90 million during the quarter, compared to analysts’ expectations of $296.02 million. VEREIT had a negative net margin of 2.72% and a negative return on equity of 0.44%. VEREIT’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same quarter last year, the company posted $0.19 earnings per share. On average, analysts expect that VEREIT Inc. will post ($1.70) EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be issued a $0.138 dividend. This represents a $0.55 dividend on an annualized basis and a yield of 6.50%. This is a positive change from VEREIT’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, September 28th. VEREIT’s dividend payout ratio is -499.95%.

VEREIT declared that its Board of Directors has authorized a stock buyback program on Monday, May 15th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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VER has been the topic of a number of analyst reports. Zacks Investment Research raised shares of VEREIT from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a research note on Wednesday, July 19th. BidaskClub raised shares of VEREIT from a “sell” rating to a “hold” rating in a research note on Sunday, July 16th. ValuEngine downgraded shares of VEREIT from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $9.00 target price on shares of VEREIT in a research note on Wednesday, April 26th. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $9.80.

In related news, insider William Craig Jr. Miller acquired 12,725 shares of the business’s stock in a transaction dated Monday, May 22nd. The shares were acquired at an average cost of $7.86 per share, for a total transaction of $100,018.50. Following the acquisition, the insider now directly owns 223,381 shares in the company, valued at approximately $1,755,774.66. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Paul H. Mcdowell acquired 7,000 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were bought at an average price of $7.51 per share, for a total transaction of $52,570.00. Following the completion of the acquisition, the insider now owns 289,401 shares in the company, valued at $2,173,401.51. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by corporate insiders.

About VEREIT

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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Institutional Ownership by Quarter for VEREIT (NYSE:VER)

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