Bank of Montreal Can boosted its position in Vereit Inc (NYSE:VER) by 52.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,733,226 shares of the financial services provider’s stock after purchasing an additional 1,287,303 shares during the quarter. Bank of Montreal Can’s holdings in Vereit were worth $27,103,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of VER. PGGM Investments lifted its stake in Vereit by 133.3% in the 2nd quarter. PGGM Investments now owns 21,502,611 shares of the financial services provider’s stock worth $159,979,000 after purchasing an additional 12,287,014 shares in the last quarter. Centersquare Investment Management LLC lifted its stake in Vereit by 21.4% in the 2nd quarter. Centersquare Investment Management LLC now owns 21,014,573 shares of the financial services provider’s stock worth $156,348,000 after purchasing an additional 3,697,262 shares in the last quarter. BlackRock Inc. lifted its stake in Vereit by 3.8% in the 2nd quarter. BlackRock Inc. now owns 85,065,999 shares of the financial services provider’s stock worth $632,890,000 after purchasing an additional 3,090,710 shares in the last quarter. LSV Asset Management lifted its stake in Vereit by 15.5% in the 2nd quarter. LSV Asset Management now owns 22,913,053 shares of the financial services provider’s stock worth $170,473,000 after purchasing an additional 3,077,953 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Vereit by 506.6% in the 2nd quarter. Renaissance Technologies LLC now owns 3,403,754 shares of the financial services provider’s stock worth $25,324,000 after purchasing an additional 2,842,600 shares in the last quarter. Institutional investors and hedge funds own 87.65% of the company’s stock.
Vereit stock opened at $7.22 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.35 and a current ratio of 0.35. The firm has a market cap of $6.96 billion, a PE ratio of 10.31, a P/E/G ratio of 3.72 and a beta of 0.67. Vereit Inc has a fifty-two week low of $6.52 and a fifty-two week high of $8.26.
Vereit (NYSE:VER) last posted its quarterly earnings data on Friday, August 3rd. The financial services provider reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.27). The company had revenue of $315.60 million for the quarter, compared to analysts’ expectations of $297.35 million. Vereit had a negative net margin of 4.44% and a negative return on equity of 0.40%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 EPS. As a group, equities analysts forecast that Vereit Inc will post 0.68 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were given a dividend of $0.1375 per share. This represents a $0.55 annualized dividend and a dividend yield of 7.62%. The ex-dividend date of this dividend was Thursday, September 27th. Vereit’s dividend payout ratio (DPR) is currently 78.57%.
Several research firms have issued reports on VER. ValuEngine upgraded shares of Vereit from a “sell” rating to a “hold” rating in a research note on Friday. JPMorgan Chase & Co. increased their target price on shares of Vereit from $8.00 to $9.00 and gave the stock an “overweight” rating in a research note on Monday, September 17th. Finally, Mizuho set a $8.00 price objective on shares of Vereit and gave the company a “hold” rating in a research report on Monday, August 13th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Vereit currently has an average rating of “Hold” and an average price target of $8.81.
In other news, SVP Gavin Brandon sold 20,877 shares of the firm’s stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $7.68, for a total transaction of $160,335.36. Following the sale, the senior vice president now owns 35,462 shares in the company, valued at approximately $272,348.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.09% of the company’s stock.
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 $14.3 billion including approximately 4,000 properties and 94.6 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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