Zacks Investment Research downgraded shares of VEREIT (NYSE:VER) from a buy rating to a hold rating in a research note released on Saturday, November 18th.
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. “
Other equities research analysts have also issued reports about the stock. BidaskClub lowered shares of VEREIT from a hold rating to a sell rating in a report on Friday, July 28th. ValuEngine raised shares of VEREIT from a hold rating to a buy rating in a research report on Friday, October 6th. Finally, Stifel Nicolaus reissued a hold rating on shares of VEREIT in a research report on Wednesday, November 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $9.81.
VEREIT (NYSE VER) traded down $0.12 on Friday, hitting $7.75. 13,208,187 shares of the stock traded hands, compared to its average volume of 8,539,084. The stock has a market capitalization of $7,676.92, a P/E ratio of 10.80 and a beta of 0.73. VEREIT has a 52-week low of $7.44 and a 52-week high of $9.12. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.37 and a quick ratio of 0.37.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.138 per share. This represents a $0.55 annualized dividend and a yield of 7.12%. The ex-dividend date is Thursday, December 28th. VEREIT’s dividend payout ratio is currently -549.95%.
Large investors have recently modified their holdings of the company. WINTON GROUP Ltd bought a new position in shares of VEREIT in the 2nd quarter worth approximately $100,000. Strid Group LLC bought a new position in shares of VEREIT in the 2nd quarter worth approximately $105,000. Ffcm LLC purchased a new stake in VEREIT in the 3rd quarter worth approximately $111,000. Sheaff Brock Investment Advisors LLC increased its holdings in VEREIT by 26.8% in the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 14,033 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 2,969 shares in the last quarter. Finally, IBM Retirement Fund increased its holdings in VEREIT by 31.3% in the 2nd quarter. IBM Retirement Fund now owns 14,253 shares of the financial services provider’s stock worth $116,000 after acquiring an additional 3,395 shares in the last quarter. Hedge funds and other institutional investors own 85.28% of the company’s stock.
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VEREIT Company Profile
VEREIT, Inc is a full-service real estate operating company. The Company owns and manages a diversified portfolio of retail, restaurant, office and industrial real estate assets. It operates through two segments: real estate investment (REI) segment and its investment management segment, Cole Capital.
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