Commonwealth Bank of Australia lessened its position in shares of VEREIT Inc. (NYSE:VER) by 6.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 112,538 shares of the financial services provider’s stock after selling 7,300 shares during the period. Commonwealth Bank of Australia’s holdings in VEREIT were worth $916,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of VER. BlackRock Inc. increased its holdings in VEREIT by 3,227.7% during the 1st quarter. BlackRock Inc. now owns 76,790,678 shares of the financial services provider’s stock worth $651,955,000 after acquiring an additional 74,483,066 shares during the period. Bank of Montreal Can increased its holdings in VEREIT by 1,232.3% during the 2nd quarter. Bank of Montreal Can now owns 9,388,340 shares of the financial services provider’s stock worth $76,422,000 after acquiring an additional 8,683,687 shares during the period. Lasalle Investment Management Securities LLC increased its holdings in VEREIT by 72.6% during the 1st quarter. Lasalle Investment Management Securities LLC now owns 16,129,586 shares of the financial services provider’s stock worth $136,940,000 after acquiring an additional 6,783,213 shares during the period. Vanguard Group Inc. increased its holdings in VEREIT by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 155,944,544 shares of the financial services provider’s stock worth $1,323,969,000 after acquiring an additional 3,799,549 shares during the period. Finally, Morgan Stanley increased its holdings in VEREIT by 43.9% during the 1st quarter. Morgan Stanley now owns 10,594,933 shares of the financial services provider’s stock worth $89,951,000 after acquiring an additional 3,229,897 shares during the period. 86.04% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently weighed in on VER shares. Zacks Investment Research raised shares of VEREIT from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a report on Wednesday, July 19th. ValuEngine lowered shares of VEREIT from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, BidaskClub raised shares of VEREIT from a “sell” rating to a “hold” rating in a report on Sunday, July 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $9.80.
VEREIT Inc. (NYSE VER) opened at 8.68 on Friday. The firm has a 50-day moving average of $8.51 and a 200-day moving average of $8.38. VEREIT Inc. has a 1-year low of $7.44 and a 1-year high of $10.44. The stock’s market cap is $8.45 billion.
VEREIT (NYSE:VER) last released its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.16). The company had revenue of $336.90 million for the quarter, compared to the consensus estimate of $296.02 million. VEREIT had a negative net margin of 2.72% and a negative return on equity of 0.44%. The company’s quarterly revenue was down 9.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.19 EPS. Analysts expect that VEREIT Inc. will post ($1.70) EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a dividend of $0.138 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.55 annualized dividend and a dividend yield of 6.36%. This is a boost from VEREIT’s previous quarterly dividend of $0.14. VEREIT’s dividend payout ratio (DPR) is presently -499.95%.
VEREIT Company Profile
VEREIT, Inc is a full-service real estate operating company. The Company operates through two business segments: real estate investment (REI) segment and investment management segment, Cole Capital. As of December 31, 2016, through its REI segment, the Company owned and managed a portfolio of 4,142 retail, restaurant, office and industrial real estate properties with an aggregate of 93.3 million square feet, which are located in 49 states, Puerto Rico and Canada.
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