Mutual Advisors LLC acquired a new stake in Vereit Inc (NYSE:VER) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 40,756 shares of the financial services provider’s stock, valued at approximately $303,000.
Other large investors have also modified their holdings of the company. Financial Gravity Wealth Inc. acquired a new position in Vereit in the 1st quarter worth approximately $100,000. PagnatoKarp Partners LLC acquired a new position in Vereit in the 1st quarter worth approximately $158,000. PNC Financial Services Group Inc. increased its holdings in Vereit by 76.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 27,933 shares of the financial services provider’s stock worth $195,000 after buying an additional 12,125 shares during the period. Tower Research Capital LLC TRC increased its holdings in Vereit by 71.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 31,459 shares of the financial services provider’s stock worth $235,000 after buying an additional 13,060 shares during the period. Finally, Sunbelt Securities Inc. increased its holdings in Vereit by 25.6% in the 1st quarter. Sunbelt Securities Inc. now owns 36,436 shares of the financial services provider’s stock worth $254,000 after buying an additional 7,419 shares during the period. Institutional investors own 87.55% of the company’s stock.
Several equities analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Vereit from a “hold” rating to a “sell” rating in a report on Thursday, May 24th. Evercore ISI reiterated an “in-line” rating on shares of Vereit in a report on Friday, June 1st. ValuEngine upgraded shares of Vereit from a “sell” rating to a “hold” rating in a report on Saturday, August 18th. Finally, Mizuho set a $8.00 price target on shares of Vereit and gave the stock a “hold” rating in a report on Monday, August 13th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $8.75.
Shares of NYSE VER opened at $7.61 on Friday. The company has a market cap of $7.36 billion, a PE ratio of 10.45, a PEG ratio of 3.30 and a beta of 0.62. Vereit Inc has a 12 month low of $6.52 and a 12 month high of $8.71. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.35 and a current ratio of 0.35.
Vereit (NYSE:VER) last issued its quarterly earnings data on Friday, August 3rd. The financial services provider reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.27). The firm had revenue of $315.60 million for the quarter, compared to analyst estimates of $297.35 million. Vereit had a negative return on equity of 0.40% and a negative net margin of 4.44%. Vereit’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 EPS. analysts forecast that Vereit Inc will post 0.69 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be paid a dividend of $0.1375 per share. The ex-dividend date is Thursday, September 27th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 7.23%. Vereit’s payout ratio is 78.57%.
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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