Jacobsen Capital Management bought a new position in shares of Vereit Inc (NYSE:VER) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 15,714 shares of the financial services provider’s stock, valued at approximately $141,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VER. Comerica Securities Inc. bought a new position in Vereit during the fourth quarter worth about $137,000. Stifel Financial Corp boosted its position in Vereit by 26.1% during the fourth quarter. Stifel Financial Corp now owns 16,281 shares of the financial services provider’s stock worth $117,000 after purchasing an additional 3,365 shares during the period. Geode Capital Management LLC boosted its position in Vereit by 6.6% during the fourth quarter. Geode Capital Management LLC now owns 9,374,117 shares of the financial services provider’s stock worth $66,980,000 after purchasing an additional 581,958 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in Vereit during the first quarter worth about $590,000. Finally, Virtu Financial LLC bought a new position in Vereit during the first quarter worth about $512,000. 91.76% of the stock is owned by hedge funds and other institutional investors.
VER has been the subject of a number of research reports. Evercore ISI set a $9.00 target price on shares of Vereit and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Morgan Stanley initiated coverage on shares of Vereit in a research report on Monday, August 5th. They set an “equal weight” rating and a $9.00 target price for the company. Bank of America upgraded shares of Vereit from an “underperform” rating to a “buy” rating and increased their target price for the stock from $8.00 to $10.50 in a research report on Tuesday, June 11th. TheStreet upgraded shares of Vereit from a “c” rating to a “b-” rating in a research report on Friday, August 9th. Finally, ValuEngine lowered shares of Vereit from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $9.42.
Vereit (NYSE:VER) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.10. Vereit had a net margin of 24.69% and a return on equity of 4.23%. The firm had revenue of $312.10 million for the quarter, compared to the consensus estimate of $314.95 million. During the same period in the prior year, the firm posted $0.18 earnings per share. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, sell-side analysts predict that Vereit Inc will post 0.69 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.138 dividend. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.73%. The ex-dividend date of this dividend is Friday, September 27th. Vereit’s payout ratio is 76.39%.
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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