Foundry Partners LLC increased its stake in Vereit Inc (NYSE:VER) by 18.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,044,291 shares of the financial services provider’s stock after buying an additional 163,741 shares during the quarter. Foundry Partners LLC owned about 0.11% of Vereit worth $7,582,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of VER. Brown Advisory Inc. bought a new position in Vereit during the 2nd quarter worth approximately $3,281,000. Qube Research & Technologies Ltd bought a new position in Vereit during the 2nd quarter worth approximately $130,000. Oregon Public Employees Retirement Fund lifted its holdings in Vereit by 10.3% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 883,792 shares of the financial services provider’s stock worth $6,575,000 after buying an additional 82,449 shares during the last quarter. Kalos Management Inc. lifted its holdings in Vereit by 2.2% during the 2nd quarter. Kalos Management Inc. now owns 625,135 shares of the financial services provider’s stock worth $4,664,000 after buying an additional 13,483 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in Vereit by 38.9% during the 1st quarter. Royal Bank of Canada now owns 1,768,749 shares of the financial services provider’s stock worth $12,311,000 after buying an additional 495,297 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.
Shares of NYSE VER traded up $0.04 during mid-day trading on Friday, hitting $7.69. The company had a trading volume of 7,221,515 shares, compared to its average volume of 10,521,515. The company has a market cap of $7.32 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 2.79 and a beta of 0.51. Vereit Inc has a 12 month low of $6.52 and a 12 month high of $8.26. The company has a current ratio of 0.70, a quick ratio of 0.35 and a debt-to-equity ratio of 0.75.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be paid a dividend of $0.1375 per share. This represents a $0.55 annualized dividend and a yield of 7.15%. The ex-dividend date of this dividend is Friday, December 28th. Vereit’s payout ratio is currently 78.57%.
A number of research analysts have commented on the company. Zacks Investment Research raised Vereit from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a report on Saturday. ValuEngine raised Vereit from a “sell” rating to a “hold” rating in a report on Friday, October 19th. Robert W. Baird initiated coverage on Vereit in a report on Monday, October 22nd. They issued an “outperform” rating and a $9.00 price target on the stock. Mizuho set a $8.00 price target on Vereit and gave the stock a “hold” rating in a report on Monday, August 13th. Finally, JPMorgan Chase & Co. raised their price target on Vereit from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Monday, September 17th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Vereit has an average rating of “Buy” and an average target price of $8.70.
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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 $14.3 billion including approximately 4,000 properties and 94.6 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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