Vereit Inc (NYSE:VER) has been given an average recommendation of “Hold” by the eight ratings firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $8.75.
Several equities analysts recently commented on VER shares. Zacks Investment Research lowered Vereit from a “buy” rating to a “hold” rating in a report on Saturday, November 18th. ValuEngine downgraded shares of Vereit from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. JMP Securities decreased their price objective on shares of Vereit from $9.50 to $9.00 and set a “market outperform” rating for the company in a research note on Friday, February 23rd. Finally, Mizuho restated a “hold” rating and issued a $7.00 price objective on shares of Vereit in a research note on Friday, March 2nd.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. California Public Employees Retirement System boosted its stake in Vereit by 8.5% in the third quarter. California Public Employees Retirement System now owns 2,429,330 shares of the financial services provider’s stock valued at $20,139,000 after acquiring an additional 190,499 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Vereit by 47.6% during the third quarter. JPMorgan Chase & Co. now owns 3,625,937 shares of the financial services provider’s stock worth $30,168,000 after buying an additional 1,169,067 shares during the period. New York State Common Retirement Fund boosted its stake in shares of Vereit by 2.5% during the third quarter. New York State Common Retirement Fund now owns 2,159,000 shares of the financial services provider’s stock worth $17,898,000 after buying an additional 53,000 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Vereit by 38.6% during the fourth quarter. Teacher Retirement System of Texas now owns 1,971,367 shares of the financial services provider’s stock worth $15,357,000 after buying an additional 549,140 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Vereit by 18.0% during the third quarter. American Century Companies Inc. now owns 107,570 shares of the financial services provider’s stock worth $892,000 after buying an additional 16,437 shares during the period. Institutional investors own 86.17% of the company’s stock.
Vereit (NYSE:VER) traded up $0.09 during trading hours on Wednesday, reaching $7.05. The company had a trading volume of 7,355,699 shares, compared to its average volume of 8,548,698. The stock has a market capitalization of $6,781.11, a price-to-earnings ratio of -704.30 and a beta of 0.66. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.63. Vereit has a 52-week low of $6.62 and a 52-week high of $8.94.
Vereit (NYSE:VER) last posted its earnings results on Thursday, February 22nd. The financial services provider reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. The firm had revenue of $316.60 million for the quarter, compared to analyst estimates of $284.78 million. Vereit had a return on equity of 0.75% and a net margin of 2.38%. Vereit’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.18 earnings per share. equities research analysts anticipate that Vereit will post 0.72 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 30th will be paid a $0.138 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.55 annualized dividend and a yield of 7.83%. Vereit’s dividend payout ratio is presently -5,494.51%.
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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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