Financial & Investment Management Group Ltd. lessened its position in shares of Vereit Inc (NYSE:VER) by 2.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 920,862 shares of the financial services provider’s stock after selling 25,234 shares during the quarter. Vereit makes up approximately 2.2% of Financial & Investment Management Group Ltd.’s investment portfolio, making the stock its 11th largest holding. Financial & Investment Management Group Ltd. owned approximately 0.10% of Vereit worth $6,685,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in VER. Brown Advisory Inc. bought a new position in shares of Vereit during the 2nd quarter worth approximately $3,281,000. Qube Research & Technologies Ltd bought a new position in shares of Vereit during the 2nd quarter worth approximately $130,000. Oregon Public Employees Retirement Fund boosted its holdings in shares of Vereit by 10.3% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 883,792 shares of the financial services provider’s stock worth $6,575,000 after buying an additional 82,449 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Vereit by 38.9% during the 1st 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. Finally, Kalos Management Inc. boosted its holdings in shares of Vereit by 2.2% during the 2nd quarter. Kalos Management Inc. now owns 625,135 shares of the financial services provider’s stock worth $4,664,000 after buying an additional 13,483 shares in the last quarter. 87.54% of the stock is owned by institutional investors and hedge funds.
VER has been the topic of a number of research analyst reports. ValuEngine upgraded Vereit from a “sell” rating to a “hold” rating in a report on Saturday, August 18th. Mizuho set a $8.00 price target on Vereit and gave the stock a “hold” rating in a report on Monday, August 13th. Finally, JPMorgan Chase & Co. increased their price target on Vereit from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Monday, September 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Vereit has a consensus rating of “Hold” and an average price target of $8.81.
In related 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 value of $160,335.36. Following the transaction, the senior vice president now directly owns 35,462 shares in the company, valued at approximately $272,348.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.14% of the stock is owned by company insiders.
Shares of VER traded down $0.05 during trading hours on Thursday, reaching $7.19. The stock had a trading volume of 382,414 shares, compared to its average volume of 9,022,208. Vereit Inc has a 12 month low of $6.52 and a 12 month high of $8.26. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.66. The stock has a market cap of $7.02 billion, a P/E ratio of 10.34, a P/E/G ratio of 3.21 and a beta of 0.67.
Vereit (NYSE:VER) last issued its earnings results 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). Vereit had a negative return on equity of 0.40% and a negative net margin of 4.44%. The firm had revenue of $315.60 million during the quarter, compared to the consensus estimate of $297.35 million. During the same quarter in the prior year, the business earned $0.18 earnings per share. Vereit’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, analysts expect that Vereit Inc will post 0.68 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were issued a $0.1375 dividend. This represents a $0.55 dividend on an annualized basis and a dividend yield of 7.65%. The ex-dividend date was Thursday, September 27th. Vereit’s dividend payout ratio is currently 78.57%.
VEREIT, Inc provides real estate investment services. It operates though the following segments: Real Estate Investment and Cole Capital. The Real Estate Investment segment acquires, owns and operates single tenant, freestanding, commercial real estate properties, primarily subject to long term net leases with high credit quality tenants.
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