Vereit (NYSE:VER) Downgraded by Zacks Investment Research

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Zacks Investment Research cut shares of Vereit (NYSE:VER) from a buy rating to a hold rating in a research note issued to investors on Saturday, Zacks.com reports.

According to Zacks, “VEREIT, Inc. is a real estate operating company. The Company owns and manages a diversified portfolio of retail, restaurant, office and industrial real estate assets. VEREIT, Inc., formerly known as American Realty Capital Properties Inc., is based in Phoenix, United States. “

Other equities analysts also recently issued research reports about the company. Bank of America boosted their price target on Armstrong World Industries from $95.00 to $108.00 and gave the stock a buy rating in a research report on Tuesday, June 11th. ValuEngine downgraded Vereit from a buy rating to a hold rating in a research report on Friday, July 19th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $9.30.

Shares of NYSE VER opened at $8.97 on Friday. The stock’s 50 day simple moving average is $9.16. The firm has a market capitalization of $8.62 billion, a P/E ratio of 12.46, a PEG ratio of 1.12 and a beta of 0.53. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.81. Vereit has a twelve month low of $6.88 and a twelve month high of $9.72.

Vereit (NYSE:VER) last announced its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $316.84 million for the quarter, compared to the consensus estimate of $307.92 million. Vereit had a negative return on equity of 0.65% and a negative net margin of 3.83%. The business’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.18 earnings per share. Equities analysts forecast that Vereit will post 0.69 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a dividend of $0.138 per share. This represents a $0.55 dividend on an annualized basis and a yield of 6.15%. The ex-dividend date of this dividend was Thursday, June 27th. Vereit’s dividend payout ratio (DPR) is presently 76.39%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. State of Alaska Department of Revenue lifted its stake in Vereit by 14.3% during the second quarter. State of Alaska Department of Revenue now owns 485,892 shares of the financial services provider’s stock worth $4,376,000 after purchasing an additional 60,820 shares during the last quarter. Whittier Trust Co. lifted its stake in Vereit by 2,228.1% during the second quarter. Whittier Trust Co. now owns 9,033 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 8,645 shares during the last quarter. AE Wealth Management LLC lifted its stake in Vereit by 152.1% during the second quarter. AE Wealth Management LLC now owns 60,252 shares of the financial services provider’s stock worth $543,000 after purchasing an additional 36,355 shares during the last quarter. Eidelman Virant Capital bought a new stake in Vereit during the second quarter worth $117,000. Finally, SeaCrest Wealth Management LLC lifted its stake in Vereit by 4.7% during the second quarter. SeaCrest Wealth Management LLC now owns 29,393 shares of the financial services provider’s stock worth $265,000 after purchasing an additional 1,311 shares during the last quarter. 91.38% of the stock is currently owned by hedge funds and other institutional investors.

About Vereit

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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