IFM Investors Pty Ltd purchased a new position in shares of VEREIT Inc. (NYSE:VER) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 42,751 shares of the financial services provider’s stock, valued at approximately $348,000.
Several other hedge funds also recently bought and sold shares of VER. BlackRock Inc. grew its stake in shares of VEREIT by 3,227.7% in the first quarter. BlackRock Inc. now owns 76,790,678 shares of the financial services provider’s stock valued at $651,955,000 after buying an additional 74,483,066 shares in the last quarter. Bank of Montreal Can grew its stake in VEREIT by 1,232.3% during the 2nd quarter. Bank of Montreal Can now owns 9,388,340 shares of the financial services provider’s stock valued at $76,422,000 after purchasing an additional 8,683,687 shares in the last quarter. Lasalle Investment Management Securities LLC grew its stake in VEREIT by 72.6% during the 1st quarter. Lasalle Investment Management Securities LLC now owns 16,129,586 shares of the financial services provider’s stock valued at $136,940,000 after purchasing an additional 6,783,213 shares in the last quarter. Vanguard Group Inc. grew its stake in VEREIT by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 155,944,544 shares of the financial services provider’s stock valued at $1,323,969,000 after purchasing an additional 3,799,549 shares in the last quarter. Finally, Morgan Stanley grew its stake in VEREIT by 43.9% during the 1st quarter. Morgan Stanley now owns 10,594,933 shares of the financial services provider’s stock valued at $89,951,000 after purchasing an additional 3,229,897 shares in the last quarter. Institutional investors and hedge funds own 86.04% of the company’s stock.
Several analysts recently issued reports on the company. Zacks Investment Research cut VEREIT from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. BidaskClub upgraded VEREIT from a “sell” rating to a “hold” rating in a research report on Sunday, July 16th. Finally, ValuEngine cut VEREIT from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $9.80.
Shares of VEREIT Inc. (NYSE:VER) traded up 0.23% during mid-day trading on Friday, hitting $8.61. The company’s stock had a trading volume of 834,285 shares. The company has a 50-day moving average price of $8.50 and a 200-day moving average price of $8.38. The stock’s market cap is $8.39 billion. VEREIT Inc. has a 1-year low of $7.44 and a 1-year high of $10.44.
VEREIT (NYSE:VER) last issued its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.16). The company had revenue of $336.90 million during the quarter, compared to the consensus estimate of $296.02 million. VEREIT had a negative return on equity of 0.44% and a negative net margin of 2.72%. VEREIT’s quarterly revenue was down 9.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.19 EPS. Analysts predict that VEREIT Inc. will post ($1.70) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a dividend of $0.138 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.55 annualized dividend and a dividend yield of 6.43%. This is a positive change from VEREIT’s previous quarterly dividend of $0.14. VEREIT’s dividend payout ratio (DPR) is currently -499.95%.
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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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