Brokerages Set Vereit Inc (VER) PT at $8.75

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.

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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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About Vereit

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.

Analyst Recommendations for Vereit (NYSE:VER)

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