Vereit (NYSE:VER) had its target price hoisted by JPMorgan Chase & Co. from $10.00 to $11.00 in a report released on Thursday, BenzingaRatingsTable reports. The firm currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 12.76% from the company’s current price.
Other research analysts also recently issued research reports about the company. Morgan Stanley upped their target price on Vereit from $9.00 to $9.50 and gave the stock an “equal weight” rating in a report on Tuesday, September 17th. 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. Zacks Investment Research upgraded Vereit from a “sell” rating to a “hold” rating in a research note on Wednesday, August 14th. TheStreet upgraded Vereit from a “c” rating to a “b-” rating in a research note on Friday, August 9th. Finally, Stifel Nicolaus upped their price target on Vereit from $9.25 to $9.50 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. Vereit has a consensus rating of “Hold” and a consensus target price of $9.79.
NYSE:VER traded up $0.01 during mid-day trading on Thursday, reaching $9.76. 1,735,232 shares of the company’s stock traded hands, compared to its average volume of 21,281,880. Vereit has a 12-month low of $6.88 and a 12-month high of $10.13. The firm has a market capitalization of $9.49 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 1.41 and a beta of 0.51. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.10 and a quick ratio of 1.10. The company has a 50 day moving average price of $9.71 and a 200-day moving average price of $9.05.
In related news, insider Thomas W. Roberts sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $9.87, for a total value of $246,750.00. Following the transaction, the insider now directly owns 433,478 shares of the company’s stock, valued at approximately $4,278,427.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.22% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in VER. US Bancorp DE raised its holdings in Vereit by 7.2% in the 1st quarter. US Bancorp DE now owns 55,642 shares of the financial services provider’s stock worth $466,000 after purchasing an additional 3,749 shares during the period. Sawtooth Solutions LLC increased its stake in Vereit by 29.8% in the 1st quarter. Sawtooth Solutions LLC now owns 24,341 shares of the financial services provider’s stock worth $204,000 after buying an additional 5,590 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Vereit by 1.2% in the 1st quarter. Commonwealth Equity Services LLC now owns 411,233 shares of the financial services provider’s stock worth $3,442,000 after buying an additional 4,811 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in Vereit by 112.3% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 2,821,366 shares of the financial services provider’s stock worth $23,614,000 after buying an additional 1,492,285 shares in the last quarter. Finally, TCW Group Inc. purchased a new stake in Vereit in the 1st quarter worth $384,000. 93.39% of the stock is currently 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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