Vereit Inc (NYSE:VER) was the recipient of a large decrease in short interest in the month of June. As of June 30th, there was short interest totalling 31,657,600 shares, a decrease of 17.7% from the May 30th total of 38,468,300 shares. Based on an average daily volume of 9,350,000 shares, the short-interest ratio is currently 3.4 days. Approximately 3.3% of the shares of the company are short sold.
Vereit stock traded down $0.04 during mid-day trading on Friday, reaching $9.13. The company had a trading volume of 7,930,276 shares, compared to its average volume of 10,580,552. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.81. Vereit has a 52 week low of $6.88 and a 52 week high of $9.72. The stock’s 50 day simple moving average is $9.10. The stock has a market cap of $8.93 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 1.01 and a beta of 0.53.
Vereit (NYSE:VER) last issued its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. Vereit had a negative net margin of 3.83% and a negative return on equity of 0.65%. The firm had revenue of $316.84 million during the quarter, compared to the consensus estimate of $307.92 million. During the same period in the prior year, the firm earned $0.18 EPS. The business’s revenue was up .6% on a year-over-year basis. On average, equities research analysts predict that Vereit will post 0.69 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.138 dividend. This represents a $0.55 dividend on an annualized basis and a dividend yield of 6.05%. The ex-dividend date of this dividend is Thursday, June 27th. Vereit’s dividend payout ratio is 76.39%.
A number of analysts have weighed in on the stock. Bank of America increased their price target on shares of Armstrong World Industries from $95.00 to $108.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. ValuEngine downgraded shares of Verso from a “hold” rating to a “sell” rating in a report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $9.00.
Several hedge funds have recently made changes to their positions in VER. Comerica Securities Inc. bought a new stake in shares of Vereit in the 4th quarter worth about $137,000. Comerica Bank increased its position in shares of Vereit by 7.9% in the 4th quarter. Comerica Bank now owns 101,034 shares of the financial services provider’s stock worth $805,000 after purchasing an additional 7,393 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Vereit by 37.5% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 64,954 shares of the financial services provider’s stock worth $464,000 after purchasing an additional 17,731 shares during the last quarter. Great West Life Assurance Co. Can grew its position in shares of Vereit by 2.3% during the 4th quarter. Great West Life Assurance Co. Can now owns 628,130 shares of the financial services provider’s stock valued at $4,313,000 after buying an additional 14,113 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in shares of Vereit by 47.8% during the 4th quarter. Bessemer Group Inc. now owns 4,174 shares of the financial services provider’s stock valued at $30,000 after buying an additional 1,349 shares during the last quarter. Institutional investors own 91.38% of the company’s stock.
Vereit Company Profile
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 total real estate investments of $15.6 billion including approximately 4,000 properties and 94.7 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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