Ossiam purchased a new stake in Vereit Inc (NYSE:VER) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 64,592 shares of the financial services provider’s stock, valued at approximately $582,000.
A number of other hedge funds have also recently made changes to their positions in VER. Advantage Investment Management LLC raised its stake in Vereit by 8.7% in the second quarter. Advantage Investment Management LLC now owns 14,254 shares of the financial services provider’s stock valued at $128,000 after buying an additional 1,135 shares during the period. Janney Montgomery Scott LLC raised its stake in Vereit by 1.5% in the 2nd quarter. Janney Montgomery Scott LLC now owns 85,472 shares of the financial services provider’s stock valued at $770,000 after acquiring an additional 1,266 shares during the period. SeaCrest Wealth Management LLC raised its stake in Vereit by 4.7% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 29,393 shares of the financial services provider’s stock valued at $265,000 after acquiring an additional 1,311 shares during the period. Stockman Wealth Management Inc. raised its stake in Vereit by 3.1% in the 2nd quarter. Stockman Wealth Management Inc. now owns 50,350 shares of the financial services provider’s stock valued at $454,000 after acquiring an additional 1,500 shares during the period. Finally, IHT Wealth Management LLC lifted its holdings in Vereit by 1.6% during the 2nd quarter. IHT Wealth Management LLC now owns 101,453 shares of the financial services provider’s stock valued at $915,000 after purchasing an additional 1,606 shares during the last quarter. Hedge funds and other institutional investors own 93.35% of the company’s stock.
VER has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Vereit from a “sell” rating to a “hold” rating in a research report on Wednesday, August 14th. Bank of America raised shares of Vereit from an “underperform” rating to a “buy” rating and increased their price objective for the company from $8.00 to $10.50 in a research report on Tuesday, June 11th. TheStreet upgraded shares of Vereit from a “c” rating to a “b-” rating in a research note on Friday, August 9th. Evercore ISI set a $9.00 target price on shares of Vereit and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Finally, Morgan Stanley began coverage on shares of Vereit in a report on Monday, August 5th. They set an “equal weight” rating and a $9.00 target price for the company. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $9.57.
Shares of NYSE VER traded up $0.25 during trading hours on Wednesday, reaching $9.64. 392,078 shares of the stock were exchanged, compared to its average volume of 8,272,122. The firm has a market capitalization of $9.39 billion, a price-to-earnings ratio of 13.40, a P/E/G ratio of 1.24 and a beta of 0.53. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.10 and a current ratio of 1.10. Vereit Inc has a 52 week low of $6.88 and a 52 week high of $9.94. The stock’s fifty day simple moving average is $9.47 and its 200 day simple moving average is $8.82.
Vereit (NYSE:VER) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.10. Vereit had a return on equity of 4.23% and a net margin of 24.69%. The business had revenue of $312.10 million during the quarter, compared to analysts’ expectations of $314.95 million. During the same period last year, the firm posted $0.18 EPS. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. Research analysts predict that Vereit Inc will post 0.7 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.138 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.73%. Vereit’s payout ratio is presently 76.39%.
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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