Teacher Retirement System of Texas Increases Stake in VEREIT Inc. (VER)
Teacher Retirement System of Texas increased its position in shares of VEREIT Inc. (NYSE:VER) by 35.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,422,227 shares of the financial services provider’s stock after buying an additional 375,391 shares during the period. Teacher Retirement System of Texas owned 0.15% of VEREIT worth $11,790,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently added to or reduced their stakes in VER. BlackRock Inc. grew its stake in shares of VEREIT by 1.4% in the second quarter. BlackRock Inc. now owns 77,878,258 shares of the financial services provider’s stock valued at $633,927,000 after acquiring an additional 1,087,580 shares in the last quarter. Cbre Clarion Securities LLC grew its stake in shares of VEREIT by 5.4% in the second quarter. Cbre Clarion Securities LLC now owns 38,947,554 shares of the financial services provider’s stock worth $317,033,000 after acquiring an additional 2,004,074 shares during the last quarter. CI Investments Inc. lifted its holdings in shares of VEREIT by 0.9% during the second quarter. CI Investments Inc. now owns 24,529,315 shares of the financial services provider’s stock valued at $199,669,000 after purchasing an additional 220,300 shares in the last quarter. Glenview Capital Management LLC increased its position in VEREIT by 5.9% in the second quarter. Glenview Capital Management LLC now owns 17,946,243 shares of the financial services provider’s stock worth $146,082,000 after buying an additional 1,000,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of VEREIT by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 13,566,316 shares of the financial services provider’s stock worth $110,432,000 after purchasing an additional 698,170 shares in the last quarter. Hedge funds and other institutional investors own 84.87% of the company’s stock.
Shares of VEREIT Inc. (NYSE VER) traded up $0.01 during trading hours on Friday, reaching $8.01. The company’s stock had a trading volume of 14,081,400 shares, compared to its average volume of 8,506,927. The company has a market cap of $7,798.69, a PE ratio of 10.97 and a beta of 0.74. VEREIT Inc. has a fifty-two week low of $7.44 and a fifty-two week high of $9.12. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.60.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.138 per share. This represents a $0.55 annualized dividend and a dividend yield of 6.89%. The ex-dividend date of this dividend is Thursday, December 28th. VEREIT’s payout ratio is -549.95%.
A number of equities analysts recently weighed in on VER shares. Zacks Investment Research cut VEREIT from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Stifel Nicolaus reissued a “hold” rating on shares of VEREIT in a report on Wednesday, November 1st. ValuEngine upgraded VEREIT from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. Finally, BidaskClub downgraded shares of VEREIT from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. VEREIT currently has an average rating of “Hold” and a consensus target price of $9.81.
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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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