California State Teachers Retirement System lessened its holdings in Vereit Inc (NYSE:VER) by 3.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,646,564 shares of the financial services provider’s stock after selling 54,086 shares during the period. California State Teachers Retirement System’s holdings in Vereit were worth $11,460,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in VER. Viridian Ria LLC bought a new stake in shares of Vereit during the first quarter worth about $102,000. Financial Gravity Companies Inc. bought a new stake in shares of Vereit during the fourth quarter worth about $105,000. Jump Trading LLC bought a new stake in shares of Vereit during the fourth quarter worth about $110,000. American International Group Inc. bought a new stake in shares of Vereit during the fourth quarter worth about $159,000. Finally, HRT Financial LLC bought a new stake in shares of Vereit during the fourth quarter worth about $163,000. Hedge funds and other institutional investors own 84.93% of the company’s stock.
NYSE:VER opened at $7.50 on Tuesday. The stock has a market cap of $7.30 billion, a PE ratio of 10.71, a PEG ratio of 4.36 and a beta of 0.57. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.64. Vereit Inc has a 1-year low of $6.52 and a 1-year high of $8.75.
Vereit (NYSE:VER) last posted its quarterly earnings data on Friday, May 4th. The financial services provider reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.17). The company had revenue of $290.60 million during the quarter, compared to analyst estimates of $299.80 million. Vereit had a return on equity of 0.94% and a net margin of 3.78%. Vereit’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.19 earnings per share. sell-side analysts anticipate that Vereit Inc will post 0.7 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Friday, June 29th will be paid a $0.138 dividend. This represents a $0.55 dividend on an annualized basis and a dividend yield of 7.36%. The ex-dividend date is Thursday, June 28th. Vereit’s dividend payout ratio is currently 78.57%.
Several analysts have recently weighed in on VER shares. Zacks Investment Research upgraded Vereit from a “sell” rating to a “hold” rating in a report on Wednesday, May 30th. Mizuho restated a “hold” rating and set a $7.00 price target on shares of Vereit in a report on Friday, March 2nd. Evercore ISI restated an “in-line” rating on shares of Vereit in a report on Friday, June 1st. Finally, ValuEngine cut Vereit from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Vereit has a consensus rating of “Hold” and an average price target of $8.42.
VEREIT is a full-service real estate operating company which owns and manages one of the largest portfolios of single-tenant commercial properties in the U.S. The Company has a total asset book value of $14.7 billion including approximately 4,100 properties and 94.4 million square feet. VEREIT's business model provides equity capital to creditworthy corporations in return for long-term leases on their properties.
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