Vereit (NYSE:VER) posted its quarterly earnings data on Thursday. The financial services provider reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01, Morningstar.com reports. The business had revenue of $316.60 million for the quarter, compared to analysts’ expectations of $284.78 million. Vereit had a net margin of 2.38% and a return on equity of 0.75%. The firm’s revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.18 EPS. Vereit updated its FY18 guidance to $0.70-0.72 EPS.
Shares of Vereit (NYSE:VER) opened at $6.89 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.37 and a current ratio of 0.37. Vereit has a 52-week low of $6.62 and a 52-week high of $9.12. The company has a market cap of $6,634.97, a PE ratio of -688.31 and a beta of 0.65.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 30th will be given a dividend of $0.138 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.55 annualized dividend and a yield of 8.01%. Vereit’s dividend payout ratio (DPR) is presently -5,494.51%.
A number of large investors have recently modified their holdings of VER. Long Pond Capital LP lifted its position in Vereit by 538.8% during the 4th quarter. Long Pond Capital LP now owns 17,691,863 shares of the financial services provider’s stock worth $137,820,000 after buying an additional 14,922,313 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new stake in Vereit during the 3rd quarter worth about $41,057,000. Fosun International Ltd lifted its position in Vereit by 204.6% during the 3rd quarter. Fosun International Ltd now owns 5,845,132 shares of the financial services provider’s stock worth $48,455,000 after buying an additional 3,925,900 shares in the last quarter. Sasco Capital Inc. CT bought a new stake in Vereit during the 4th quarter worth about $27,956,000. Finally, Russell Investments Group Ltd. lifted its position in Vereit by 253.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,373,318 shares of the financial services provider’s stock worth $36,257,000 after buying an additional 3,135,055 shares in the last quarter. 88.33% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently commented on VER shares. ValuEngine cut shares of Vereit from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Zacks Investment Research cut shares of Vereit from a “buy” rating to a “hold” rating in a research report on Saturday, November 18th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Vereit in a research report on Wednesday, November 1st. Finally, JMP Securities cut their price objective on shares of Vereit from $9.50 to $9.00 and set a “market outperform” rating on the stock in a research report on Friday. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Vereit presently has a consensus rating of “Hold” and an average target price of $9.31.
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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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