Nisa Investment Advisors LLC grew its stake in Vereit Inc (NYSE:VER) by 33.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 595,267 shares of the financial services provider’s stock after purchasing an additional 149,052 shares during the quarter. Nisa Investment Advisors LLC owned approximately 0.06% of Vereit worth $3,828,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Barings LLC bought a new position in shares of Vereit in the first quarter valued at approximately $125,000. US Bancorp DE grew its stake in shares of Vereit by 28.2% in the 1st quarter. US Bancorp DE now owns 78,815 shares of the financial services provider’s stock worth $385,000 after buying an additional 17,349 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Vereit by 59.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,859,432 shares of the financial services provider’s stock worth $43,323,000 after buying an additional 3,319,645 shares during the last quarter. Timbercreek Investment Management Inc. lifted its position in Vereit by 50.5% in the 1st quarter. Timbercreek Investment Management Inc. now owns 3,843,832 shares of the financial services provider’s stock valued at $15,952,000 after acquiring an additional 1,289,469 shares in the last quarter. Finally, Norges Bank bought a new position in Vereit in the 4th quarter valued at approximately $110,009,000. Institutional investors own 93.24% of the company’s stock.
Shares of VER stock opened at $6.51 on Friday. Vereit Inc has a 52-week low of $3.56 and a 52-week high of $10.18. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.17 and a current ratio of 2.17. The firm has a market capitalization of $7.02 billion, a PE ratio of -17.59 and a beta of 1.07. The stock has a fifty day simple moving average of $6.47 and a two-hundred day simple moving average of $6.84.
Vereit (NYSE:VER) last issued its quarterly earnings results on Wednesday, May 20th. The financial services provider reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.09). Vereit had a negative return on equity of 4.05% and a negative net margin of 23.19%. The business had revenue of $299.20 million during the quarter, compared to analysts’ expectations of $301.11 million. During the same quarter in the previous year, the company posted $0.18 EPS. The company’s quarterly revenue was down 5.6% on a year-over-year basis. On average, sell-side analysts forecast that Vereit Inc will post 0.62 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.077 dividend. The ex-dividend date of this dividend was Monday, June 29th. This represents a $0.31 dividend on an annualized basis and a yield of 4.73%. Vereit’s payout ratio is presently 44.93%.
Several research firms have recently weighed in on VER. Morgan Stanley lowered their price target on Vereit from $9.50 to $5.80 and set an “equal weight” rating on the stock in a report on Monday, May 4th. Berenberg Bank initiated coverage on Vereit in a report on Friday, July 10th. They issued a “hold” rating and a $6.75 target price on the stock. Finally, Zacks Investment Research raised Vereit from a “hold” rating to a “buy” rating and set a $7.25 target price on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Vereit has an average rating of “Hold” and a consensus target price of $8.79.
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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