Flaharty Asset Management LLC acquired a new stake in VEREIT Inc. (NYSE:VER) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 21,027 shares of the financial services provider’s stock, valued at approximately $180,000.
A number of other large investors have also added to or reduced their stakes in the company. Macquarie Group Ltd. increased its stake in VEREIT by 40.5% in the fourth quarter. Macquarie Group Ltd. now owns 433,874 shares of the financial services provider’s stock worth $3,670,000 after buying an additional 125,018 shares in the last quarter. Penserra Capital Management LLC bought a new position in VEREIT during the first quarter worth $200,000. Dimensional Fund Advisors LP boosted its position in VEREIT by 7.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 12,285,595 shares of the financial services provider’s stock worth $103,934,000 after buying an additional 872,467 shares during the last quarter. Russell Investments Group Ltd. bought a new position in VEREIT during the fourth quarter worth $12,330,000. Finally, FIL Ltd boosted its position in VEREIT by 17.3% in the first quarter. FIL Ltd now owns 1,327,981 shares of the financial services provider’s stock worth $11,275,000 after buying an additional 195,417 shares during the last quarter. Institutional investors own 84.95% of the company’s stock.
VEREIT Inc. (VER) traded up 0.37% during mid-day trading on Friday, reaching $8.14. The company had a trading volume of 4,569,480 shares. VEREIT Inc. has a 12 month low of $7.44 and a 12 month high of $11.09. The firm’s 50 day moving average price is $8.11 and its 200-day moving average price is $8.44. The company’s market capitalization is $7.93 billion.
VEREIT (NYSE:VER) last released its quarterly earnings results on Thursday, May 4th. The financial services provider reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. The company had revenue of $348.03 million for the quarter, compared to analysts’ expectations of $297.94 million. VEREIT had a negative return on equity of 0.80% and a negative net margin of 4.77%. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 earnings per share. Equities research analysts anticipate that VEREIT Inc. will post ($1.70) earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Friday, June 30th will be issued a dividend of $0.1375 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 6.76%. VEREIT’s dividend payout ratio (DPR) is presently -366.67%.
A number of research analysts recently commented on the company. BidaskClub cut VEREIT from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. ValuEngine cut VEREIT from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Evercore ISI raised VEREIT to an “outperform” rating and set a $9.00 target price on the stock in a research report on Monday, May 15th. Zacks Investment Research raised VEREIT from a “sell” rating to a “hold” rating in a research report on Wednesday, May 10th. Finally, BMO Capital Markets set a $10.00 price objective on VEREIT and gave the company a “buy” rating in a research report on Wednesday, March 22nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $9.80.
In related news, insider William Craig Jr. Miller acquired 12,725 shares of the stock in a transaction that occurred on Monday, May 22nd. The shares were acquired at an average price of $7.86 per share, for a total transaction of $100,018.50. Following the completion of the purchase, the insider now directly owns 223,381 shares of the company’s stock, valued at $1,755,774.66. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Glenn J. Rufrano acquired 32,000 shares of the stock in a transaction that occurred on Monday, May 8th. The shares were bought at an average price of $7.81 per share, for a total transaction of $249,920.00. Following the purchase, the chief executive officer now directly owns 1,962,657 shares of the company’s stock, valued at $15,328,351.17. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 91,725 shares of company stock worth $706,509. Corporate insiders own 0.09% of the company’s stock.
VEREIT Company Profile
VEREIT, Inc is a full-service real estate operating company. The Company operates through two business segments: real estate investment (REI) segment and investment management segment, Cole Capital. As of December 31, 2016, through its REI segment, the Company owned and managed a portfolio of 4,142 retail, restaurant, office and industrial real estate properties with an aggregate of 93.3 million square feet, which are located in 49 states, Puerto Rico and Canada.
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