Vereit Inc (NYSE:VER) reached a new 52-week high on Friday . The stock traded as high as $8.74 and last traded at $8.74, with a volume of 27970 shares traded. The stock had previously closed at $8.68.
Several equities research analysts recently weighed in on the company. ValuEngine upgraded Vereit from a “hold” rating to a “buy” rating in a report on Thursday. Zacks Investment Research upgraded Vereit from a “sell” rating to a “hold” rating in a report on Saturday, February 9th. Finally, Robert W. Baird downgraded Vereit from an “outperform” rating to a “neutral” rating and set a $9.00 price target on the stock. in a research report on Monday, February 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $8.63.
The stock has a market cap of $8.32 billion, a PE ratio of 12.10, a P/E/G ratio of 1.05 and a beta of 0.66. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.81.
Vereit (NYSE:VER) last released its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $316.84 million for the quarter, compared to analysts’ expectations of $307.92 million. Vereit had a negative return on equity of 0.65% and a negative net margin of 3.83%. Vereit’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the business posted $0.18 earnings per share. Equities analysts forecast that Vereit Inc will post 0.69 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.138 dividend. This represents a $0.55 annualized dividend and a yield of 6.37%. The ex-dividend date of this dividend is Thursday, June 27th. Vereit’s dividend payout ratio is 76.39%.
Hedge funds have recently made changes to their positions in the stock. Investors Research Corp acquired a new stake in Vereit in the 1st quarter valued at $25,000. Essex Savings Bank acquired a new stake in Vereit in the 4th quarter valued at $29,000. Bessemer Group Inc. boosted its stake in Vereit by 47.8% in the 4th quarter. Bessemer Group Inc. now owns 4,174 shares of the financial services provider’s stock valued at $30,000 after buying an additional 1,349 shares in the last quarter. Rehmann Capital Advisory Group boosted its stake in Vereit by 801.3% in the 4th quarter. Rehmann Capital Advisory Group now owns 4,930 shares of the financial services provider’s stock valued at $35,000 after buying an additional 4,383 shares in the last quarter. Finally, Spirit of America Management Corp NY acquired a new stake in Vereit in the 1st quarter valued at $42,000. 92.71% of the stock is currently owned by institutional investors and hedge funds.
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Vereit Company Profile (NYSE:VER)
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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