VEREIT Inc. (VER) Given Consensus Rating of “Hold” by Analysts
VEREIT Inc. (NYSE:VER) has been assigned a consensus rating of “Hold” from the nine brokerages that are covering the company, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $10.00.
A number of research firms recently commented on VER. Zacks Investment Research downgraded shares of VEREIT from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. ValuEngine upgraded shares of VEREIT from a “hold” rating to a “buy” rating in a report on Friday, October 6th. Finally, BidaskClub downgraded shares of VEREIT from a “hold” rating to a “sell” rating in a report on Friday, July 28th.
Shares of VEREIT (NYSE VER) traded down 0.62% on Friday, hitting $8.06. 16,101,213 shares of the stock were exchanged. The company’s market cap is $7.85 billion. The firm’s 50-day moving average is $8.44 and its 200-day moving average is $8.35. VEREIT has a one year low of $7.44 and a one year high of $9.78.
VEREIT (NYSE:VER) last released its earnings results on Thursday, August 3rd. The financial services provider reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.16). VEREIT had a negative return on equity of 0.44% and a negative net margin of 2.72%. The business had revenue of $336.90 million during the quarter, compared to the consensus estimate of $296.02 million. During the same quarter in the previous year, the firm earned $0.19 earnings per share. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year. On average, equities analysts forecast that VEREIT will post ($1.70) EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were issued a dividend of $0.138 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 6.85%. This is a positive change from VEREIT’s previous quarterly dividend of $0.14. VEREIT’s payout ratio is currently -499.95%.
Several hedge funds have recently added to or reduced their stakes in VER. WINTON GROUP Ltd acquired a new stake in shares of VEREIT during the second quarter valued at approximately $100,000. Strid Group LLC acquired a new stake in shares of VEREIT during the second quarter valued at approximately $105,000. Sheaff Brock Investment Advisors LLC raised its holdings in shares of VEREIT by 26.8% during the second quarter. Sheaff Brock Investment Advisors LLC now owns 14,033 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 2,969 shares during the period. IBM Retirement Fund raised its holdings in shares of VEREIT by 31.3% during the second quarter. IBM Retirement Fund now owns 14,253 shares of the financial services provider’s stock valued at $116,000 after acquiring an additional 3,395 shares during the period. Finally, Quantitative Systematic Strategies LLC acquired a new stake in shares of VEREIT during the third quarter valued at approximately $117,000. Institutional investors and hedge funds own 85.99% of the company’s stock.
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VEREIT Company Profile
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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