Stevens Capital Management LP purchased a new position in shares of Vereit Inc (NYSE:VER) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 297,158 shares of the financial services provider’s stock, valued at approximately $2,677,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Comerica Securities Inc. purchased a new stake in shares of Vereit during the 4th quarter valued at about $137,000. Stifel Financial Corp raised its holdings in shares of Vereit by 26.1% during the 4th quarter. Stifel Financial Corp now owns 16,281 shares of the financial services provider’s stock worth $117,000 after acquiring an additional 3,365 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Vereit by 6.6% during the 4th quarter. Geode Capital Management LLC now owns 9,374,117 shares of the financial services provider’s stock worth $66,980,000 after acquiring an additional 581,958 shares in the last quarter. DNB Asset Management AS raised its holdings in shares of Vereit by 128.6% during the 1st quarter. DNB Asset Management AS now owns 270,347 shares of the financial services provider’s stock worth $2,263,000 after acquiring an additional 152,098 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of Vereit during the 1st quarter worth approximately $590,000. 91.76% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently weighed in on VER. Evercore ISI set a $9.00 price target on Vereit and gave the company a “hold” rating in a report on Wednesday, August 7th. Zacks Investment Research upgraded Vereit from a “sell” rating to a “hold” rating in a report on Wednesday. Morgan Stanley initiated coverage on Vereit in a research note on Monday, August 5th. They issued an “equal weight” rating and a $9.00 target price on the stock. ValuEngine lowered Vereit from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Finally, Bank of America upgraded 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 note on Tuesday, June 11th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Vereit has a consensus rating of “Hold” and an average price target of $9.42.
Vereit (NYSE:VER) last posted 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 return on equity of 4.23% and a net margin of 24.69%. The business had revenue of $312.10 million for the quarter, compared to the consensus estimate of $314.95 million. During the same quarter in the prior year, the company earned $0.18 EPS. The business’s revenue was down 1.1% compared to the same quarter last year. On average, equities research analysts predict that Vereit Inc will post 0.69 earnings per share for the current fiscal 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 given a dividend of $0.138 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.82%. The ex-dividend date is Friday, September 27th. Vereit’s payout ratio is 76.39%.
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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