VEREIT Inc. (VER) Stock Rating Upgraded by Zacks Investment Research
VEREIT Inc. (NYSE:VER) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
According to Zacks, “VEREIT, Inc. is a real estate operating company. The Company owns and manages a diversified portfolio of retail, restaurant, office and industrial real estate assets. VEREIT, Inc., formerly known as American Realty Capital Properties Inc., is based in Phoenix, United States. “
VER has been the subject of several other reports. Stifel Nicolaus reiterated a “hold” rating on shares of VEREIT in a research note on Wednesday, November 1st. BidaskClub lowered shares of VEREIT from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, ValuEngine upgraded shares of VEREIT from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $9.88.
Shares of VEREIT (NYSE:VER) opened at $8.21 on Friday. VEREIT has a 12-month low of $7.44 and a 12-month high of $9.12. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.61 and a quick ratio of 0.61. The company has a market cap of $7,959.44, a PE ratio of 11.19 and a beta of 0.74.
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Institutional investors have recently modified their holdings of the stock. WINTON GROUP Ltd bought a new stake in VEREIT during the 2nd quarter valued at about $100,000. Strid Group LLC bought a new stake in VEREIT during the 2nd quarter valued at about $105,000. Ffcm LLC bought a new stake in VEREIT during the 3rd quarter valued at about $111,000. Sheaff Brock Investment Advisors LLC increased its stake in VEREIT by 26.8% during the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 14,033 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 2,969 shares in the last quarter. Finally, IBM Retirement Fund increased its stake in VEREIT by 31.3% during the 2nd quarter. IBM Retirement Fund now owns 14,253 shares of the financial services provider’s stock valued at $116,000 after purchasing an additional 3,395 shares in the last quarter. Institutional investors own 85.03% of the company’s stock.
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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