Wall Street analysts expect that VEREIT Inc. (NYSE:VER) will post $0.18 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for VEREIT’s earnings, with the lowest EPS estimate coming in at $0.16 and the highest estimate coming in at $0.18. VEREIT posted earnings of $0.19 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 5.3%. The firm is scheduled to report its next earnings results before the market opens on Thursday, August 3rd.
According to Zacks, analysts expect that VEREIT will report full-year earnings of $0.71 per share for the current financial year, with EPS estimates ranging from $0.66 to $0.74. For the next fiscal year, analysts forecast that the business will report earnings of $0.74 per share, with EPS estimates ranging from $0.70 to $0.76. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for VEREIT.
VEREIT (NYSE:VER) last announced its quarterly earnings results on Thursday, May 4th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. VEREIT had a negative return on equity of 0.80% and a negative net margin of 4.77%. The business had revenue of $348.03 million during the quarter, compared to analyst estimates of $297.94 million. During the same period in the previous year, the company earned $0.21 EPS. The firm’s revenue was down 5.7% on a year-over-year basis.
VER has been the subject of a number of research reports. Evercore ISI restated an “in-line” rating and set a $9.00 price objective on shares of VEREIT in a research report on Wednesday, April 26th. Zacks Investment Research lowered VEREIT from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. BMO Capital Markets set a $10.00 price target on VEREIT and gave the company a “buy” rating in a report on Wednesday, March 22nd. ValuEngine lowered VEREIT from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, BidaskClub lowered VEREIT from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $9.80.
In related news, insider Hugh R. Frater acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 5th. The shares were acquired at an average cost of $7.81 per share, with a total value of $78,100.00. Following the purchase, the insider now owns 37,486 shares of the company’s stock, valued at $292,765.66. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Glenn J. Rufrano acquired 32,000 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was bought at an average cost of $7.81 per share, for a total transaction of $249,920.00. Following the completion of the purchase, the chief executive officer now directly owns 1,962,657 shares in the company, valued at approximately $15,328,351.17. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 91,725 shares of company stock valued at $706,509. 0.09% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dynamic Advisors Solutions LLC increased its position in shares of VEREIT by 0.9% in the second quarter. Dynamic Advisors Solutions LLC now owns 14,574 shares of the financial services provider’s stock worth $119,000 after buying an additional 127 shares during the last quarter. HighPoint Advisor Group LLC increased its position in shares of VEREIT by 0.6% in the fourth quarter. HighPoint Advisor Group LLC now owns 31,407 shares of the financial services provider’s stock worth $283,000 after buying an additional 183 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of VEREIT by 3.4% in the first quarter. Pacer Advisors Inc. now owns 15,881 shares of the financial services provider’s stock worth $135,000 after buying an additional 529 shares during the last quarter. V Wealth Management LLC increased its position in shares of VEREIT by 4.3% in the first quarter. V Wealth Management LLC now owns 14,017 shares of the financial services provider’s stock worth $119,000 after buying an additional 578 shares during the last quarter. Finally, Capstone Asset Management Co. increased its position in shares of VEREIT by 4.1% in the first quarter. Capstone Asset Management Co. now owns 18,452 shares of the financial services provider’s stock worth $157,000 after buying an additional 720 shares during the last quarter. 84.95% of the stock is currently owned by institutional investors and hedge funds.
VEREIT (NYSE:VER) opened at 7.93 on Wednesday. The company’s market capitalization is $7.72 billion. VEREIT has a 52 week low of $7.44 and a 52 week high of $11.09. The company has a 50 day moving average price of $8.11 and a 200-day moving average price of $8.44.
The company 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 annualized dividend and a dividend yield of 6.94%. VEREIT’s dividend payout ratio is -366.67%.
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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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