Orinda Asset Management LLC Invests $1.85 Million in Vereit Inc (NYSE:VER)

Orinda Asset Management LLC bought a new position in shares of Vereit Inc (NYSE:VER) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 205,000 shares of the financial services provider’s stock, valued at approximately $1,847,000. Vereit makes up 2.5% of Orinda Asset Management LLC’s holdings, making the stock its 17th biggest position.

A number of other institutional investors have also added to or reduced their stakes in the business. Advantage Investment Management LLC lifted its holdings in Vereit by 8.7% during the 2nd quarter. Advantage Investment Management LLC now owns 14,254 shares of the financial services provider’s stock worth $128,000 after buying an additional 1,135 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Vereit by 1.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 85,472 shares of the financial services provider’s stock worth $770,000 after buying an additional 1,266 shares in the last quarter. SeaCrest Wealth Management LLC lifted its holdings in Vereit by 4.7% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 29,393 shares of the financial services provider’s stock worth $265,000 after buying an additional 1,311 shares in the last quarter. Wetherby Asset Management Inc. lifted its holdings in Vereit by 7.6% during the 1st quarter. Wetherby Asset Management Inc. now owns 22,858 shares of the financial services provider’s stock worth $191,000 after buying an additional 1,614 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its holdings in Vereit by 13.3% during the 2nd quarter. Sunbelt Securities Inc. now owns 15,920 shares of the financial services provider’s stock worth $143,000 after buying an additional 1,871 shares in the last quarter. Institutional investors own 91.76% of the company’s stock.

Shares of NYSE:VER traded up $0.06 during trading hours on Friday, reaching $9.62. The stock had a trading volume of 87,842 shares, compared to its average volume of 9,834,938. Vereit Inc has a 1 year low of $6.88 and a 1 year high of $9.77. The firm’s 50 day moving average is $9.18 and its 200-day moving average is $8.64. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market capitalization of $9.31 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 1.19 and a beta of 0.55.



Vereit (NYSE:VER) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.10. Vereit had a net margin of 24.69% and a return on equity of 4.23%. The company 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 EPS. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. Analysts forecast that Vereit Inc will post 0.69 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.138 dividend. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.74%. The ex-dividend date of this dividend is Friday, September 27th. Vereit’s dividend payout ratio is presently 76.39%.

A number of equities research analysts have issued reports on VER shares. ValuEngine lowered shares of Vereit from a “buy” rating to a “hold” rating in a report on Friday, July 19th. TheStreet upgraded shares of Vereit from a “c” rating to a “b-” rating in a report on Friday, August 9th. Zacks Investment Research upgraded shares of Vereit from a “sell” rating to a “hold” rating in a report on Wednesday. Morgan Stanley assumed coverage on shares of Vereit in a research report on Monday, August 5th. They issued an “equal weight” rating and a $9.00 price objective on the stock. Finally, Evercore ISI set a $9.00 price objective on shares of Vereit and gave the company a “hold” rating in a research report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $9.42.

About Vereit

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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Institutional Ownership by Quarter for Vereit (NYSE:VER)

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