Voya Investment Management LLC Sells 18,078 Shares of VEREIT Inc. (NYSE:VER)

Voya Investment Management LLC lessened its position in shares of VEREIT Inc. (NYSE:VER) by 6.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 273,881 shares of the financial services provider’s stock after selling 18,078 shares during the quarter. Voya Investment Management LLC’s holdings in VEREIT were worth $2,229,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in VEREIT by 1.4% during the 2nd quarter. BlackRock Inc. now owns 77,878,258 shares of the financial services provider’s stock valued at $633,927,000 after buying an additional 1,087,580 shares in the last quarter. Cbre Clarion Securities LLC grew its holdings in VEREIT by 5.4% during the 2nd quarter. Cbre Clarion Securities LLC now owns 38,947,554 shares of the financial services provider’s stock valued at $317,033,000 after buying an additional 2,004,074 shares in the last quarter. CI Investments Inc. lifted its stake in shares of VEREIT by 0.9% in the 2nd quarter. CI Investments Inc. now owns 24,529,315 shares of the financial services provider’s stock valued at $199,669,000 after purchasing an additional 220,300 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of VEREIT by 5.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,566,316 shares of the financial services provider’s stock valued at $110,432,000 after purchasing an additional 698,170 shares during the last quarter. Finally, LSV Asset Management lifted its stake in shares of VEREIT by 13.1% in the 2nd quarter. LSV Asset Management now owns 11,000,500 shares of the financial services provider’s stock valued at $89,544,000 after purchasing an additional 1,277,400 shares during the last quarter. Institutional investors and hedge funds own 85.76% of the company’s stock.

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Shares of VEREIT Inc. (NYSE VER) traded up 0.90% during midday trading on Friday, hitting $7.82. The company had a trading volume of 5,172,873 shares. The company’s market capitalization is $7.62 billion. VEREIT Inc. has a 12 month low of $7.44 and a 12 month high of $9.54. The company has a 50-day moving average of $8.39 and a 200-day moving average of $8.33.

VEREIT (NYSE:VER) last issued its earnings results on Thursday, August 3rd. The financial services provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.16). The company had revenue of $336.90 million during the quarter, compared to analyst estimates of $296.02 million. VEREIT had a negative net margin of 2.72% and a negative return on equity of 0.44%. The business’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.19 EPS. Analysts predict that VEREIT Inc. will post ($1.70) earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were paid a $0.138 dividend. This represents a $0.55 dividend on an annualized basis and a dividend yield of 7.12%. The ex-dividend date was Thursday, September 28th. This is a positive change from VEREIT’s previous quarterly dividend of $0.14. VEREIT’s dividend payout ratio is -499.95%.

Several research firms have recently issued reports on VER. Zacks Investment Research lowered VEREIT from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. ValuEngine raised VEREIT from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. Finally, BidaskClub lowered VEREIT from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. VEREIT has a consensus rating of “Hold” and an average price target of $9.88.

About VEREIT

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.

Institutional Ownership by Quarter for VEREIT (NYSE:VER)

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