Flaharty Asset Management LLC bought a new position in VEREIT Inc. (NYSE:VER) during the first quarter, according to its most recent filing with the SEC. The institutional investor bought 21,027 shares of the financial services provider’s stock, valued at approximately $180,000.
A number of other large investors have also bought and sold shares of the company. Macquarie Group Ltd. raised 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 during the last quarter. Dimensional Fund Advisors LP raised its stake 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. acquired a new stake in VEREIT during the fourth quarter worth $12,330,000. Teachers Advisors LLC raised its stake in VEREIT by 1.9% in the fourth quarter. Teachers Advisors LLC now owns 1,282,304 shares of the financial services provider’s stock worth $10,848,000 after buying an additional 23,743 shares during the last quarter. Finally, Penserra Capital Management LLC acquired a new stake in VEREIT during the first quarter worth $200,000. 84.95% of the stock is currently owned by hedge funds and other institutional investors.
VEREIT Inc. (VER) traded down 0.12% during midday trading on Monday, hitting $8.36. 5,712,923 shares of the stock were exchanged. VEREIT Inc. has a 1-year low of $7.44 and a 1-year high of $11.09. The stock’s market cap is $8.14 billion. The company’s 50 day moving average is $8.06 and its 200-day moving average is $8.45.
VEREIT (NYSE:VER) last posted its quarterly earnings results on Thursday, May 4th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. The firm had revenue of $348.03 million during the quarter, compared to analyst estimates of $297.94 million. VEREIT had a negative return on equity of 0.80% and a negative net margin of 4.77%. VEREIT’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.21 EPS. On average, analysts expect that VEREIT Inc. will post ($1.70) earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Friday, June 30th will be given a $0.1375 dividend. This represents a $0.55 annualized dividend and a dividend yield of 6.58%. The ex-dividend date of this dividend is Wednesday, June 28th. VEREIT’s dividend payout ratio is presently -366.67%.
A number of equities research analysts have weighed in on VER shares. Zacks Investment Research lowered shares of VEREIT from a “buy” rating to a “sell” rating in a report on Saturday, February 25th. Evercore ISI raised shares of VEREIT from an “in-line” rating to an “outperform” rating and set a $9.00 target price on the stock in a report on Friday, May 5th. BMO Capital Markets set a $10.00 target price on shares of VEREIT and gave the stock a “buy” rating in a report on Wednesday, March 22nd. Finally, ValuEngine lowered shares of VEREIT from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. VEREIT currently has an average rating of “Hold” and a consensus target price of $9.80.
In related news, insider William Craig Jr. Miller purchased 12,725 shares of the stock in a transaction dated Monday, May 22nd. The stock was purchased at an average price of $7.86 per share, with a total value of $100,018.50. Following the transaction, the insider now directly owns 223,381 shares in the company, valued at $1,755,774.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Glenn J. Rufrano purchased 32,000 shares of the stock in a transaction dated Monday, May 8th. The stock was bought at an average cost of $7.81 per share, with a total value of $249,920.00. Following the transaction, the chief executive officer now owns 1,962,657 shares in the company, valued at $15,328,351.17. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 91,725 shares of company stock valued at $706,509. 0.09% of the stock is owned by insiders.
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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