VEREIT (VER) Upgraded to Hold at Zacks Investment Research

VEREIT (NYSE:VER) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday, November 11th. The brokerage currently has a $9.25 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 18.59% from the stock’s current price.

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 research firms have also issued reports on VER. BidaskClub upgraded VEREIT from a “sell” rating to a “hold” rating in a research report on Sunday, July 16th. ValuEngine upgraded VEREIT from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. Finally, Stifel Nicolaus reiterated a “hold” rating on shares of VEREIT in a research report on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. VEREIT has an average rating of “Hold” and a consensus price target of $9.81.

Shares of VEREIT (VER) traded down $0.05 during trading on Friday, hitting $7.80. The company’s stock had a trading volume of 12,563,531 shares, compared to its average volume of 8,502,157. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $7,706.14, a PE ratio of 10.84 and a beta of 0.74. VEREIT has a fifty-two week low of $7.44 and a fifty-two week high of $9.12.

Several hedge funds and other institutional investors have recently made changes to their positions in VER. BlackRock Inc. raised its stake in 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 buying an additional 1,087,580 shares in the last quarter. Cbre Clarion Securities LLC raised its stake in VEREIT by 5.4% in the second quarter. Cbre Clarion Securities LLC now owns 38,947,554 shares of the financial services provider’s stock valued at $317,033,000 after buying an additional 2,004,074 shares in the last quarter. CI Investments Inc. raised its stake in VEREIT by 0.9% in the second quarter. CI Investments Inc. now owns 24,529,315 shares of the financial services provider’s stock valued at $199,669,000 after buying an additional 220,300 shares in the last quarter. Glenview Capital Management LLC raised its stake in VEREIT by 5.9% in the second quarter. Glenview Capital Management LLC now owns 17,946,243 shares of the financial services provider’s stock valued at $146,082,000 after buying an additional 1,000,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in VEREIT by 2.8% in the third quarter. Dimensional Fund Advisors LP now owns 13,942,160 shares of the financial services provider’s stock valued at $115,581,000 after buying an additional 375,844 shares in the last quarter. Institutional investors and hedge funds own 85.28% of the company’s stock.

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VEREIT Company Profile

VEREIT, Inc is a full-service real estate operating company. The Company owns and manages a diversified portfolio of retail, restaurant, office and industrial real estate assets. It operates through two segments: real estate investment (REI) segment and its investment management segment, Cole Capital.

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