Zacks Investment Research upgraded shares of Vereit (NYSE:VER) from a sell rating to a hold rating in a research report report published on Friday.
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. “
Get Vereit alerts:Other research analysts have also issued research reports about the company. Robert W. Baird lowered Vereit from an outperform rating to a neutral rating and set a $9.00 price target on the stock. in a research note on Monday, February 25th. ValuEngine raised Vereit from a hold rating to a buy rating in a research note on Monday, February 4th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $8.63.
Shares of NYSE:VER opened at $7.99 on Friday. The firm has a market cap of $7.85 billion, a price-to-earnings ratio of 11.10, a P/E/G ratio of 5.57 and a beta of 0.71. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.70 and a current ratio of 0.70. Vereit has a one year low of $6.52 and a one year high of $8.38.
Vereit (NYSE:VER) last announced its earnings results on Thursday, February 21st. The financial services provider reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.16). The company had revenue of $313.26 million for the quarter, compared to analyst estimates of $288.89 million. Vereit had a negative net margin of 6.82% and a negative return on equity of 1.17%. Vereit’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.18 EPS. As a group, equities research analysts forecast that Vereit will post 0.7 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be paid a dividend of $0.138 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 6.91%. The ex-dividend date of this dividend is Thursday, March 28th. This is a positive change from Vereit’s previous quarterly dividend of $0.14. Vereit’s dividend payout ratio is currently 76.39%.
Institutional investors have recently modified their holdings of the business. Essex Savings Bank purchased a new position in shares of Vereit during the 4th quarter worth $29,000. Bessemer Group Inc. lifted its stake in shares of Vereit by 47.8% during the 4th quarter. Bessemer Group Inc. now owns 4,174 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 1,349 shares during the period. Rehmann Capital Advisory Group lifted its stake in shares of Vereit by 801.3% during the 4th quarter. Rehmann Capital Advisory Group now owns 4,930 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 4,383 shares during the period. Howard Financial Services LTD. purchased a new position in shares of Vereit during the 4th quarter worth $75,000. Finally, Quadrant Capital Group LLC lifted its stake in shares of Vereit by 26.1% during the 4th quarter. Quadrant Capital Group LLC now owns 12,026 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 2,490 shares during the period. 90.09% 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 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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