Vereit Inc (VER) Position Increased by Utah Retirement Systems
Utah Retirement Systems increased its holdings in shares of Vereit Inc (NYSE:VER) by 4.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 249,158 shares of the financial services provider’s stock after buying an additional 9,900 shares during the quarter. Utah Retirement Systems’ holdings in Vereit were worth $1,809,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in VER. Capital Investment Advisory Services LLC bought a new stake in shares of Vereit during the 3rd quarter worth $127,000. Qube Research & Technologies Ltd bought a new stake in shares of Vereit during the 2nd quarter worth $130,000. Lourd Capital LLC bought a new stake in shares of Vereit during the 3rd quarter worth $161,000. Kovack Advisors Inc. lifted its position in shares of Vereit by 54.8% during the 3rd quarter. Kovack Advisors Inc. now owns 23,274 shares of the financial services provider’s stock worth $169,000 after buying an additional 8,235 shares during the last quarter. Finally, HighPoint Advisor Group LLC bought a new stake in shares of Vereit during the 3rd quarter worth $169,000. Institutional investors and hedge funds own 89.12% of the company’s stock.
Several analysts recently weighed in on VER shares. ValuEngine downgraded Vereit from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. JPMorgan Chase & Co. upped their price objective on Vereit from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Monday, September 17th. Mizuho set a $8.00 price objective on Vereit and gave the stock a “hold” rating in a research report on Monday, August 13th. Zacks Investment Research upgraded Vereit from a “hold” rating to a “buy” rating and set a $8.50 price objective for the company in a research report on Saturday, November 10th. Finally, Robert W. Baird started coverage on Vereit in a research report on Monday, October 22nd. They set an “outperform” rating and a $9.00 price objective for the company. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $8.70.
Vereit (NYSE:VER) last issued its quarterly earnings results on Tuesday, November 6th. The financial services provider reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.27). The company had revenue of $289.03 million during the quarter, compared to analyst estimates of $291.19 million. Vereit had a negative net margin of 11.51% and a negative return on equity of 1.53%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.18 EPS. As a group, research analysts forecast that Vereit Inc will post 0.72 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be paid a $0.1375 dividend. The ex-dividend date is Friday, December 28th. This represents a $0.55 annualized dividend and a dividend yield of 7.05%. Vereit’s payout ratio is 78.57%.
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Vereit Company Profile
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 $14.3 billion including approximately 4,000 properties and 94.6 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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