Shell Asset Management Co. Has $599,000 Stake in Vereit Inc (VER)

Shell Asset Management Co. grew its stake in shares of Vereit Inc (NYSE:VER) by 41.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,533 shares of the financial services provider’s stock after acquiring an additional 24,095 shares during the quarter. Shell Asset Management Co.’s holdings in Vereit were worth $599,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. Qube Research & Technologies Ltd purchased a new position in Vereit in the second quarter worth about $130,000. Capital Investment Advisory Services LLC bought a new stake in Vereit during the 3rd quarter valued at approximately $127,000. Lourd Capital LLC bought a new stake in Vereit in the 3rd quarter worth approximately $161,000. Kovack Advisors Inc. increased its stake in Vereit by 54.8% in the 3rd quarter. Kovack Advisors Inc. now owns 23,274 shares of the financial services provider’s stock worth $169,000 after acquiring an additional 8,235 shares during the last quarter. Finally, Oakbrook Investments LLC bought a new stake in Vereit in the 3rd quarter worth approximately $171,000. Hedge funds and other institutional investors own 89.12% of the company’s stock.

VER has been the subject of a number of recent analyst reports. Mizuho set a $8.00 price objective on Vereit and gave the company a “hold” rating in a report on Monday, August 13th. ValuEngine raised Vereit from a “sell” rating to a “hold” rating in a research report on Saturday, August 18th. JPMorgan Chase & Co. boosted their price target on Vereit from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Monday, September 17th. Robert W. Baird began coverage on Vereit in a research report on Monday, October 22nd. They set an “outperform” rating and a $9.00 target price on the stock. Finally, Zacks Investment Research raised Vereit from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a research report on Saturday, November 10th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Vereit currently has a consensus rating of “Hold” and a consensus price target of $8.70.

NYSE:VER opened at $7.81 on Friday. Vereit Inc has a one year low of $6.52 and a one year high of $8.09. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $7.64 billion, a P/E ratio of 11.00, a P/E/G ratio of 4.61 and a beta of 0.53.

Vereit (NYSE:VER) last posted its earnings results on Tuesday, November 6th. The financial services provider reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.27). Vereit had a negative return on equity of 1.53% and a negative net margin of 11.51%. The business had revenue of $289.03 million for the quarter, compared to analyst estimates of $291.19 million. During the same period last year, the business earned $0.18 EPS. Vereit’s revenue was up 2.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Vereit Inc will post 0.72 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 31st will be issued a $0.1375 dividend. The ex-dividend date of this dividend is Friday, December 28th. This represents a $0.55 dividend on an annualized basis and a yield of 7.04%. Vereit’s dividend payout ratio (DPR) is presently 78.57%.

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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 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.

Read More: Price to Earnings Ratio (PE), For Valuing Stocks

Institutional Ownership by Quarter for Vereit (NYSE:VER)

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