Vereit Inc (NYSE:VER) Shares Acquired by Eminence Capital LP
Eminence Capital LP increased its position in Vereit Inc (NYSE:VER) by 4.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,800,930 shares of the financial services provider’s stock after buying an additional 480,930 shares during the period. Eminence Capital LP owned about 1.11% of Vereit worth $97,316,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of VER. Cohen & Steers Inc. grew its stake in Vereit by 8.8% during the second quarter. Cohen & Steers Inc. now owns 117,357,389 shares of the financial services provider’s stock worth $1,057,390,000 after buying an additional 9,453,214 shares during the period. BlackRock Inc. grew its stake in Vereit by 1.5% during the first quarter. BlackRock Inc. now owns 85,218,578 shares of the financial services provider’s stock worth $713,279,000 after buying an additional 1,286,013 shares during the period. FMR LLC grew its stake in Vereit by 0.7% during the first quarter. FMR LLC now owns 39,146,376 shares of the financial services provider’s stock worth $327,655,000 after buying an additional 284,865 shares during the period. LSV Asset Management grew its stake in Vereit by 6.9% during the second quarter. LSV Asset Management now owns 27,203,794 shares of the financial services provider’s stock worth $245,106,000 after buying an additional 1,744,000 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Vereit by 4.8% during the second quarter. JPMorgan Chase & Co. now owns 16,671,445 shares of the financial services provider’s stock worth $148,209,000 after buying an additional 764,101 shares during the period. 93.39% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have issued reports on VER shares. Zacks Investment Research upgraded shares of Vereit from a “sell” rating to a “hold” rating in a research note on Wednesday, August 14th. Bank of America upgraded shares of Vereit from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $8.00 to $10.50 in a research note on Tuesday, June 11th. Morgan Stanley boosted their price objective on shares of Vereit from $9.00 to $9.50 and gave the stock an “equal weight” rating in a research note on Tuesday. TheStreet upgraded shares of Vereit from a “c” rating to a “b-” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of Vereit from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $9.64.
VER traded up $0.01 during trading on Thursday, hitting $9.78. The company had a trading volume of 75,131 shares, compared to its average volume of 10,315,571. The company has a market cap of $9.48 billion, a PE ratio of 13.59, a P/E/G ratio of 1.25 and a beta of 0.53. The business has a 50-day moving average of $9.55 and a 200-day moving average of $8.87. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.10 and a quick ratio of 1.10. Vereit Inc has a 1-year low of $6.88 and a 1-year high of $9.94.
Vereit (NYSE:VER) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.10. The firm had revenue of $312.10 million for the quarter, compared to analysts’ expectations of $314.95 million. Vereit had a net margin of 24.69% and a return on equity of 4.23%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.18 earnings per share. Research analysts forecast that Vereit Inc will post 0.7 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.138 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.55 annualized dividend and a yield of 5.64%. 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 total real estate investments of $15.6 billion including approximately 4,000 properties and 94.7 million square feet. VEREIT's business model provides equity capital to creditworthy corporations in return for long-term leases on their properties.
Featured Story: Do closed-end mutual funds pay dividends?
Receive News & Ratings for Vereit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vereit and related companies with MarketBeat.com's FREE daily email newsletter.