Zacks Investment Research upgraded shares of VEREIT Inc. (NYSE:VER) from a sell rating to a hold rating in a report published on Saturday morning. Zacks Investment Research currently has $9.25 target price on the financial services provider’s stock.
According to Zacks, “VEREIT, Inc. is a real estate operating company. The Company owns and manages a diversified portfolio of retail, restaurant, office and industrial real estate assets. VEREIT, Inc., formerly known as American Realty Capital Properties Inc., is based in Phoenix, United States. “
A number of other brokerages have also recently commented on VER. BidaskClub upgraded shares of VEREIT from a sell rating to a hold rating in a research note on Sunday, July 16th. ValuEngine upgraded shares of VEREIT from a hold rating to a buy rating in a research note on Friday, October 6th. Finally, Stifel Nicolaus reiterated a hold rating on shares of VEREIT in a research note on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $9.81.
VEREIT (NYSE:VER) opened at $8.13 on Friday. The company has a market cap of $8,000.00, a PE ratio of 11.25 and a beta of 0.76. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.37 and a current ratio of 0.37. VEREIT has a one year low of $7.44 and a one year high of $9.12.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be paid a $0.138 dividend. This represents a $0.55 dividend on an annualized basis and a dividend yield of 6.79%. The ex-dividend date of this dividend is Thursday, December 28th. VEREIT’s dividend payout ratio (DPR) is currently -423.08%.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of VEREIT by 1.4% in the second quarter. BlackRock Inc. now owns 77,878,258 shares of the financial services provider’s stock valued at $633,927,000 after acquiring an additional 1,087,580 shares during the last quarter. Cbre Clarion Securities LLC raised its position in VEREIT by 5.4% in the 2nd quarter. Cbre Clarion Securities LLC now owns 38,947,554 shares of the financial services provider’s stock worth $317,033,000 after purchasing an additional 2,004,074 shares during the last quarter. CI Investments Inc. raised its position in VEREIT by 0.9% in the 2nd quarter. CI Investments Inc. now owns 24,529,315 shares of the financial services provider’s stock worth $199,669,000 after purchasing an additional 220,300 shares during the last quarter. Glenview Capital Management LLC raised its position in VEREIT by 5.9% in the 2nd quarter. Glenview Capital Management LLC now owns 17,946,243 shares of the financial services provider’s stock worth $146,082,000 after purchasing an additional 1,000,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in VEREIT by 2.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 13,942,160 shares of the financial services provider’s stock worth $115,581,000 after purchasing an additional 375,844 shares during the last quarter. Institutional investors own 84.87% 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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