Brown Advisory Inc. purchased a new position in Vereit Inc (NYSE:VER) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 441,050 shares of the financial services provider’s stock, valued at approximately $3,281,000.
Several other large investors also recently modified their holdings of the company. Sunbelt Securities Inc. lifted its stake in shares of Vereit by 25.6% in the 1st quarter. Sunbelt Securities Inc. now owns 36,436 shares of the financial services provider’s stock worth $254,000 after acquiring an additional 7,419 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Vereit by 16.9% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 60,636 shares of the financial services provider’s stock worth $451,000 after acquiring an additional 8,778 shares during the period. Toronto Dominion Bank lifted its stake in shares of Vereit by 16.1% in the 1st quarter. Toronto Dominion Bank now owns 66,689 shares of the financial services provider’s stock worth $464,000 after acquiring an additional 9,270 shares during the period. LexAurum Advisors LLC lifted its stake in shares of Vereit by 13.7% in the 1st quarter. LexAurum Advisors LLC now owns 78,994 shares of the financial services provider’s stock worth $550,000 after acquiring an additional 9,494 shares during the period. Finally, Wedbush Securities Inc. lifted its stake in Vereit by 17.5% during the second quarter. Wedbush Securities Inc. now owns 69,985 shares of the financial services provider’s stock valued at $521,000 after purchasing an additional 10,400 shares during the last quarter. 87.55% of the stock is owned by institutional investors.
In related news, SVP Gavin Brandon sold 20,877 shares of the stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $7.68, for a total transaction of $160,335.36. Following the completion of the sale, the senior vice president now directly owns 35,462 shares of the company’s stock, valued at $272,348.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.14% of the stock is owned by corporate insiders.
Several research firms recently commented on VER. Zacks Investment Research lowered shares of Vereit from a “hold” rating to a “sell” rating in a research note on Thursday, May 24th. Evercore ISI reissued an “in-line” rating on shares of Vereit in a research note on Friday, June 1st. ValuEngine raised shares of Vereit from a “sell” rating to a “hold” rating in a research note on Saturday, August 18th. Finally, Mizuho set a $8.00 target price on shares of Vereit and gave the company a “hold” rating in a research note on Monday, August 13th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Vereit presently has a consensus rating of “Hold” and a consensus price target of $8.75.
VER stock opened at $7.82 on Thursday. Vereit Inc has a 12 month low of $6.52 and a 12 month high of $8.71. The company has a market cap of $7.57 billion, a P/E ratio of 11.16, a price-to-earnings-growth ratio of 3.28 and a beta of 0.62. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.66.
Vereit (NYSE:VER) last released its earnings results on Friday, August 3rd. The financial services provider reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.27). Vereit had a negative net margin of 4.44% and a negative return on equity of 0.40%. The business had revenue of $315.60 million for the quarter, compared to analyst estimates of $297.35 million. During the same period in the prior year, the company earned $0.18 earnings per share. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. equities analysts predict that Vereit Inc will post 0.72 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be paid a dividend of $0.1375 per share. This represents a $0.55 annualized dividend and a yield of 7.03%. The ex-dividend date of this dividend is Thursday, September 27th. Vereit’s dividend payout ratio is presently 78.57%.
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 $14.3 billion including approximately 4,000 properties and 94.6 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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