Vereit Inc (NYSE:VER) insider Thomas W. Roberts sold 25,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $9.87, for a total value of $246,750.00. Following the sale, the insider now owns 433,478 shares in the company, valued at approximately $4,278,427.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Shares of Vereit stock traded up $0.14 during trading on Tuesday, hitting $9.88. The stock had a trading volume of 15,867,555 shares, compared to its average volume of 9,198,625. The firm has a market cap of $9.33 billion, a price-to-earnings ratio of 13.72, a P/E/G ratio of 1.23 and a beta of 0.53. Vereit Inc has a 12 month low of $6.88 and a 12 month high of $9.94. The business’s 50-day moving average is $9.53 and its 200 day moving average is $8.86. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.75.
Vereit (NYSE:VER) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.10. The firm had revenue of $312.10 million for the quarter, compared to analysts’ expectations of $314.95 million. Vereit had a net margin of 24.69% and a return on equity of 4.23%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 earnings per share. As a group, equities analysts expect that Vereit Inc will post 0.7 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.138 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.55 annualized dividend and a dividend yield of 5.59%. Vereit’s payout ratio is currently 76.39%.
Several equities research analysts have issued reports on the company. ValuEngine downgraded Vereit from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Evercore ISI set a $9.00 target price on Vereit and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Stifel Nicolaus increased their target price on Vereit from $9.25 to $9.50 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Zacks Investment Research upgraded Vereit from a “sell” rating to a “hold” rating in a research report on Wednesday, August 14th. Finally, Morgan Stanley increased their target price on Vereit from $9.00 to $9.50 and gave the stock an “equal weight” rating in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Vereit presently has a consensus rating of “Hold” and an average target price of $9.64.
Institutional investors have recently added to or reduced their stakes in the company. Phocas Financial Corp. bought a new position in shares of Vereit in the second quarter worth $2,468,000. Creative Financial Designs Inc. ADV increased its holdings in shares of Vereit by 268.3% in the second quarter. Creative Financial Designs Inc. ADV now owns 3,370 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 2,455 shares during the period. Harvest Fund Management Co. Ltd bought a new position in shares of Vereit in the second quarter worth $32,000. Whittier Trust Co. increased its holdings in shares of Vereit by 2,228.1% in 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 period. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Vereit by 274.8% in the second quarter. Tower Research Capital LLC TRC now owns 10,000 shares of the financial services provider’s stock worth $90,000 after purchasing an additional 7,332 shares during the period. 93.39% of the stock is currently owned by hedge funds and other institutional investors.
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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