According to Zacks, “VEREIT, Inc. is a real estate operating company. The Company owns and manages a diversified portfolio of retail, restaurant, office and industrial real estate assets. VEREIT, Inc., formerly known as American Realty Capital Properties Inc., is based in Phoenix, United States. “
VER has been the subject of several other research reports. ValuEngine cut Vereit from a buy rating to a hold rating in a research note on Friday, July 19th. Bank of America upgraded Vereit from an underperform rating to a buy rating and boosted their price target for the stock from $8.00 to $10.50 in a research note on Tuesday, June 11th. Morgan Stanley assumed coverage on Vereit in a research note on Monday, August 5th. They issued an equal weight rating and a $9.00 price target for the company. TheStreet upgraded Vereit from a c rating to a b- rating in a research note on Friday, August 9th. Finally, Evercore ISI set a $9.00 price target on Vereit and gave the stock a hold rating in a research note on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $9.42.
Vereit (NYSE:VER) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.10. Vereit had a return on equity of 4.23% and a net margin of 24.69%. The business had revenue of $312.10 million during the quarter, compared to analysts’ expectations of $314.95 million. During the same quarter in the previous year, the business earned $0.18 earnings per share. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. As a group, analysts anticipate that Vereit will post 0.69 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.138 per share. This represents a $0.55 annualized dividend and a yield of 5.77%. The ex-dividend date is Friday, September 27th. Vereit’s dividend payout ratio is presently 76.39%.
A number of large investors have recently added to or reduced their stakes in VER. Investors Research Corp bought a new position in shares of Vereit in the first quarter worth about $25,000. Creative Financial Designs Inc. ADV boosted its stake in shares of Vereit by 268.3% in the second quarter. Creative Financial Designs Inc. ADV now owns 3,370 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 2,455 shares during the period. Spirit of America Management Corp NY bought a new position in shares of Vereit in the first quarter worth about $42,000. Cullen Frost Bankers Inc. bought a new position in shares of Vereit in the first quarter worth about $50,000. Finally, Whittier Trust Co. boosted its stake in shares of Vereit by 2,228.1% in the second quarter. Whittier Trust Co. now owns 9,033 shares of the financial services provider’s stock worth $81,000 after acquiring an additional 8,645 shares during the period. 91.76% of the stock is owned by institutional investors and hedge funds.
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 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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