Zacks: Analysts Expect Vereit Inc (NYSE:VER) to Announce $0.16 Earnings Per Share

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Analysts expect Vereit Inc (NYSE:VER) to report $0.16 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Vereit’s earnings, with estimates ranging from $0.14 to $0.16. Vereit posted earnings per share of $0.17 in the same quarter last year, which indicates a negative year-over-year growth rate of 5.9%. The company is scheduled to report its next quarterly earnings report on Thursday, February 20th.

According to Zacks, analysts expect that Vereit will report full year earnings of $0.68 per share for the current financial year, with EPS estimates ranging from $0.66 to $0.70. For the next fiscal year, analysts forecast that the business will post earnings of $0.66 per share, with EPS estimates ranging from $0.63 to $0.68. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Vereit.

Vereit (NYSE:VER) last released its earnings results on Wednesday, November 6th. The financial services provider reported ($0.76) EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.93). Vereit had a negative net margin of 27.65% and a negative return on equity of 4.76%. The firm had revenue of $302.99 million during the quarter, compared to analysts’ expectations of $306.69 million. During the same quarter in the previous year, the business earned $0.18 EPS. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year.

Several brokerages have commented on VER. Zacks Investment Research raised Vereit from a “sell” rating to a “hold” rating in a research report on Tuesday, November 26th. ValuEngine raised shares of Vereit from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. upped their target price on shares of Vereit from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. TheStreet lowered shares of Vereit from a “b-” rating to a “c+” rating in a research note on Monday, November 11th. Finally, BMO Capital Markets initiated coverage on shares of Vereit in a research report on Friday, October 25th. They set an “outperform” rating and a $11.00 price target for the company. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $9.94.

In related news, insider Thomas W. Roberts sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $9.87, for a total transaction of $246,750.00. Following the completion of the transaction, the insider now owns 433,478 shares of the company’s stock, valued at approximately $4,278,427.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.22% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in VER. PGGM Investments grew its holdings in shares of Vereit by 59.0% during the third quarter. PGGM Investments now owns 38,728,733 shares of the financial services provider’s stock valued at $378,767,000 after buying an additional 14,366,122 shares during the last quarter. Resolution Capital Ltd bought a new position in Vereit in the 3rd quarter valued at approximately $134,592,000. Brookfield Asset Management Inc. purchased a new stake in Vereit during the 2nd quarter valued at $113,466,000. Cohen & Steers Inc. boosted its stake in Vereit by 8.8% during the 2nd quarter. Cohen & Steers Inc. now owns 117,357,389 shares of the financial services provider’s stock valued at $1,057,390,000 after purchasing an additional 9,453,214 shares during the last quarter. Finally, APG Asset Management N.V. increased its holdings in shares of Vereit by 569.7% in the 2nd quarter. APG Asset Management N.V. now owns 7,350,400 shares of the financial services provider’s stock worth $58,155,000 after purchasing an additional 6,252,800 shares in the last quarter. 92.45% of the stock is currently owned by institutional investors and hedge funds.

VER stock traded down $0.01 during midday trading on Wednesday, hitting $9.63. The stock had a trading volume of 9,258,159 shares, compared to its average volume of 10,460,770. The business has a 50-day moving average of $9.67 and a two-hundred day moving average of $9.45. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $10.27 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 1.32 and a beta of 0.54. Vereit has a 52-week low of $6.95 and a 52-week high of $10.13.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.138 dividend. The ex-dividend date is Monday, December 30th. This represents a $0.55 annualized dividend and a dividend yield of 5.73%. Vereit’s payout ratio is currently 76.39%.

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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