Vereit (NYSE:VER) Cut to Hold at ValuEngine

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ValuEngine downgraded shares of Vereit (NYSE:VER) from a buy rating to a hold rating in a research note published on Friday morning, ValuEngine reports.

VER has been the topic of a number of other research reports. Zacks Investment Research raised shares of Vistra Energy from a hold rating to a buy rating and set a $25.00 price objective on the stock in a report on Saturday, July 13th. Bank of America increased their price objective on shares of Armstrong World Industries from $95.00 to $108.00 and gave the stock a buy rating in a report on Tuesday, June 11th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $9.30.

Shares of NYSE:VER opened at $8.87 on Friday. Vereit has a 12 month low of $6.88 and a 12 month high of $9.72. The stock’s 50-day moving average is $9.16. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.81. The company has a market cap of $8.58 billion, a price-to-earnings ratio of 12.32, a P/E/G ratio of 1.12 and a beta of 0.53.

Vereit (NYSE:VER) last issued its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. Vereit had a negative net margin of 3.83% and a negative return on equity of 0.65%. The firm had revenue of $316.84 million for the quarter, compared to analyst estimates of $307.92 million. During the same quarter in the prior year, the firm earned $0.18 EPS. The company’s revenue was up .6% on a year-over-year basis. As a group, analysts expect that Vereit will post 0.69 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a dividend of $0.138 per share. This represents a $0.55 dividend on an annualized basis and a yield of 6.22%. The ex-dividend date was Thursday, June 27th. Vereit’s dividend payout ratio is currently 76.39%.

Hedge funds and other institutional investors have recently modified their holdings of the company. Investors Research Corp bought a new position in shares of Vereit in the 1st quarter valued at about $25,000. Bessemer Group Inc. boosted its stake in shares of 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 purchasing an additional 1,349 shares during the last quarter. Spirit of America Management Corp NY bought a new position in shares of Vereit in the 1st quarter valued at about $42,000. Cullen Frost Bankers Inc. bought a new position in shares of Vereit in the 1st quarter valued at about $50,000. Finally, Zions Bancorporation N.A. boosted its stake in shares of Vereit by 39.1% in the 1st quarter. Zions Bancorporation N.A. now owns 10,378 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 2,918 shares during the last quarter. 91.38% of the stock is currently owned by institutional investors.

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 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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