Shares of Vereit Inc (NYSE:VER) have been given an average rating of “Hold” by the eight ratings firms that are covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $8.75.
A number of equities research analysts recently commented on the company. 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 note on Friday, October 19th. Robert W. Baird started coverage on Vereit in a research note on Monday, October 22nd. They issued an “outperform” rating and a $9.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their target price on Vereit from $8.00 to $9.00 and gave the company an “overweight” rating in a research note on Monday, September 17th.
NYSE VER opened at $7.37 on Thursday. The stock has a market capitalization of $7.01 billion, a P/E ratio of 10.53, a P/E/G ratio of 2.80 and a beta of 0.67. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.66. Vereit has a 12 month low of $6.52 and a 12 month high of $8.26.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were paid a $0.1375 dividend. The ex-dividend date was Thursday, September 27th. This represents a $0.55 dividend on an annualized basis and a yield of 7.46%. Vereit’s payout ratio is 78.57%.
In other Vereit news, SVP Gavin Brandon sold 20,877 shares of the business’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $7.68, for a total value of $160,335.36. Following the completion of the transaction, the senior vice president now directly owns 35,462 shares of the company’s stock, valued at $272,348.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. Brown Advisory Inc. acquired a new position in shares of Vereit during the second quarter worth about $3,281,000. Qube Research & Technologies Ltd acquired a new position in shares of Vereit during the second quarter worth about $130,000. Oregon Public Employees Retirement Fund boosted its position in shares of Vereit by 10.3% during the second quarter. Oregon Public Employees Retirement Fund now owns 883,792 shares of the financial services provider’s stock worth $6,575,000 after buying an additional 82,449 shares during the period. Kalos Management Inc. boosted its position in shares of Vereit by 2.2% during the second quarter. Kalos Management Inc. now owns 625,135 shares of the financial services provider’s stock worth $4,664,000 after buying an additional 13,483 shares during the period. Finally, Royal Bank of Canada boosted its position in shares of Vereit by 38.9% during the first quarter. Royal Bank of Canada now owns 1,768,749 shares of the financial services provider’s stock worth $12,311,000 after buying an additional 495,297 shares during the period. 87.73% of the stock is owned by institutional investors.
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.
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