Sunbelt Securities Inc. lowered its stake in shares of VEREIT Inc/SH SH (NYSE:VER) by 41.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,390 shares of the financial services provider’s stock after selling 15,046 shares during the quarter. Sunbelt Securities Inc.’s holdings in VEREIT Inc/SH SH were worth $159,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in VEREIT Inc/SH SH by 38.9% during the first quarter. Royal Bank of Canada now owns 1,768,749 shares of the financial services provider’s stock worth $12,311,000 after buying an additional 495,297 shares in the last quarter. Neuberger Berman Group LLC grew its stake in VEREIT Inc/SH SH by 19.1% in the 1st quarter. Neuberger Berman Group LLC now owns 360,868 shares of the financial services provider’s stock valued at $2,523,000 after purchasing an additional 57,867 shares during the period. RMR Advisors LLC grew its stake in VEREIT Inc/SH SH by 15.0% in the 2nd quarter. RMR Advisors LLC now owns 326,244 shares of the financial services provider’s stock valued at $2,427,000 after purchasing an additional 42,528 shares during the period. BlackRock Inc. grew its stake in VEREIT Inc/SH SH by 0.8% in the 1st quarter. BlackRock Inc. now owns 81,975,289 shares of the financial services provider’s stock valued at $570,549,000 after purchasing an additional 618,501 shares during the period. Finally, Teacher Retirement System of Texas grew its stake in VEREIT Inc/SH SH by 10.1% in the 1st quarter. Teacher Retirement System of Texas now owns 2,169,771 shares of the financial services provider’s stock valued at $15,102,000 after purchasing an additional 198,404 shares during the period. Institutional investors and hedge funds own 86.41% of the company’s stock.
NYSE:VER traded down $0.01 during trading on Tuesday, reaching $7.94. The company’s stock had a trading volume of 13,669 shares, compared to its average volume of 8,166,087. The company has a market capitalization of $7.70 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 3.34 and a beta of 0.65. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.35 and a quick ratio of 0.35. VEREIT Inc/SH SH has a 12 month low of $6.52 and a 12 month high of $8.75.
VEREIT Inc/SH SH (NYSE:VER) last announced its quarterly earnings data on Friday, August 3rd. The financial services provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.27). The business had revenue of $315.60 million during the quarter, compared to the consensus estimate of $297.35 million. VEREIT Inc/SH SH had a negative net margin of 4.44% and a negative return on equity of 0.40%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 EPS. sell-side analysts anticipate that VEREIT Inc/SH SH will post 0.72 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be paid a dividend of $0.1375 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.55 annualized dividend and a dividend yield of 6.93%. VEREIT Inc/SH SH’s payout ratio is 78.57%.
VER has been the subject of a number of recent analyst reports. ValuEngine downgraded VEREIT Inc/SH SH from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Zacks Investment Research downgraded VEREIT Inc/SH SH from a “hold” rating to a “sell” rating in a research note on Thursday, May 24th. Evercore ISI restated an “in-line” rating on shares of VEREIT Inc/SH SH in a research note on Friday, June 1st. Finally, Mizuho set a $8.00 price objective on VEREIT Inc/SH SH and gave the company a “hold” rating in a research note on Monday, August 13th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. VEREIT Inc/SH SH presently has an average rating of “Hold” and a consensus price target of $8.75.
In other news, SVP Gavin Brandon sold 20,877 shares of the stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $7.68, for a total transaction of $160,335.36. Following the completion of the transaction, the senior vice president now owns 35,462 shares in the company, valued at approximately $272,348.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.
About VEREIT Inc/SH SH
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 a total asset book value of $14.7 billion including approximately 4,100 properties and 94.4 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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