Vereit Inc (NYSE:VER) was the recipient of a large growth in short interest in February. As of February 15th, there was short interest totalling 34,679,856 shares, a growth of 9.9% from the January 31st total of 31,557,258 shares. Based on an average daily volume of 8,741,896 shares, the short-interest ratio is presently 4.0 days. Approximately 3.6% of the company’s shares are short sold.
Shares of NYSE VER opened at $7.97 on Thursday. Vereit has a 1 year low of $6.52 and a 1 year high of $8.38. The stock has a market cap of $7.79 billion, a P/E ratio of 11.07, a price-to-earnings-growth ratio of 5.57 and a beta of 0.71. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.70 and a quick ratio of 0.70.
Vereit (NYSE:VER) last issued its quarterly earnings results on Thursday, February 21st. The financial services provider reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.16). Vereit had a negative net margin of 6.82% and a negative return on equity of 1.17%. The business had revenue of $313.26 million for the quarter, compared to analysts’ expectations of $288.89 million. During the same period last year, the business earned $0.18 earnings per share. The company’s revenue was down 1.1% on a year-over-year basis. As a group, research analysts forecast that Vereit will post 0.7 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be given a dividend of $0.138 per share. This is a boost from Vereit’s previous quarterly dividend of $0.14. This represents a $0.55 dividend on an annualized basis and a yield of 6.93%. The ex-dividend date of this dividend is Thursday, March 28th. Vereit’s dividend payout ratio (DPR) is 76.39%.
A number of hedge funds and other institutional investors have recently modified their holdings of VER. Cohen & Steers Inc. lifted its position in Vereit by 47.7% during the 4th quarter. Cohen & Steers Inc. now owns 97,577,315 shares of the financial services provider’s stock valued at $697,678,000 after acquiring an additional 31,505,146 shares during the period. Norges Bank purchased a new position in Vereit during the 4th quarter valued at about $80,836,000. Brookfield Asset Management Inc. purchased a new position in Vereit during the 3rd quarter valued at about $75,074,000. Oregon Public Employees Retirement Fund lifted its position in Vereit by 646.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,663,064 shares of the financial services provider’s stock valued at $932,000 after acquiring an additional 5,770,345 shares during the period. Finally, Hsbc Holdings PLC lifted its position in Vereit by 178.3% during the 4th quarter. Hsbc Holdings PLC now owns 6,688,226 shares of the financial services provider’s stock valued at $47,820,000 after acquiring an additional 4,284,990 shares during the period. 90.09% of the stock is owned by institutional investors.
A number of brokerages have recently weighed in on VER. Zacks Investment Research raised shares of Vereit from a “sell” rating to a “hold” rating in a research note on Friday, February 15th. Robert W. Baird lowered shares of Vereit from an “outperform” rating to a “neutral” rating and set a $9.00 target price on the stock. in a research note on Monday, February 25th. Finally, ValuEngine raised shares of Vereit from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $8.63.
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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 a total asset book value of $14.1 billion including approximately 4,000 properties and 93.9 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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