Vereit Inc Expected to Post Q1 2020 Earnings of $0.18 Per Share (VER)
Vereit Inc (NYSE:VER) – Equities researchers at Capital One Financial issued their Q1 2020 earnings per share estimates for Vereit in a note issued to investors on Tuesday, March 12th. Capital One Financial analyst C. Lucas expects that the financial services provider will post earnings per share of $0.18 for the quarter. Capital One Financial also issued estimates for Vereit’s Q2 2020 earnings at $0.18 EPS, Q3 2020 earnings at $0.18 EPS, Q4 2020 earnings at $0.18 EPS, FY2020 earnings at $0.72 EPS and FY2021 earnings at $0.75 EPS.
A number of other equities analysts have also recently commented on VER. ValuEngine cut Vereit from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Zacks Investment Research raised Vereit from a “sell” rating to a “hold” rating in a report on Friday, February 22nd. Finally, Robert W. Baird cut Vereit from an “outperform” rating to a “neutral” rating and set a $9.00 price target for the company. in a report on Monday, February 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Vereit presently has a consensus rating of “Hold” and a consensus price target of $8.63.
Vereit (NYSE:VER) last posted its quarterly earnings results on Thursday, February 21st. The financial services provider reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.16). Vereit had a negative return on equity of 1.18% and a negative net margin of 6.82%. The business had revenue of $313.26 million for the quarter, compared to analyst estimates of $288.89 million. During the same period last year, the firm posted $0.18 EPS. Vereit’s quarterly revenue was down 1.1% on a year-over-year basis.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC increased its holdings in Vereit by 6.6% in the 4th quarter. Geode Capital Management LLC now owns 9,374,117 shares of the financial services provider’s stock worth $66,980,000 after purchasing an additional 581,958 shares in the last quarter. Norges Bank acquired a new position in Vereit in the 4th quarter worth about $80,836,000. Teacher Retirement System of Texas increased its holdings in Vereit by 5.0% in the 4th quarter. Teacher Retirement System of Texas now owns 2,056,089 shares of the financial services provider’s stock worth $14,701,000 after purchasing an additional 98,281 shares in the last quarter. APG Asset Management N.V. acquired a new position in Vereit in the 4th quarter worth about $792,000. Finally, HRT Financial LLC increased its holdings in Vereit by 10.9% in the 4th quarter. HRT Financial LLC now owns 22,769 shares of the financial services provider’s stock worth $162,000 after purchasing an additional 2,237 shares in the last quarter. 92.43% of the stock is owned by institutional investors and hedge funds.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be issued a $0.138 dividend. This represents a $0.55 dividend on an annualized basis and a yield of 6.71%. The ex-dividend date is Thursday, March 28th. This is a boost from Vereit’s previous quarterly dividend of $0.14. Vereit’s dividend payout ratio is presently 76.39%.
VEREIT is a full-service real estate operating company which owns and manages one of the largest portfolios of single-tenant commercial properties in the U.S. The Company has a total asset book value of $14.1 billion including approximately 4,000 properties and 93.9 million square feet. VEREIT's business model provides equity capital to creditworthy corporations in return for long-term leases on their properties.
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