Vereit Inc. (VER) Sets New 52-Week High at $10.39
Shares of Vereit Inc. (NYSE:VER) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $10.39 and last traded at $10.39, with a volume of 1,956,712 shares trading hands. The stock had previously closed at $10.30.
Several analysts have issued reports on VER shares. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Vereit in a research note on Monday, May 16th. Zacks Investment Research upgraded Vereit from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Tuesday, May 10th. BMO Capital Markets restated a “buy” rating on shares of Vereit in a research note on Tuesday, May 24th. Goldman Sachs Group Inc. restated a “buy” rating and issued a $9.50 price objective on shares of Vereit in a research note on Monday, March 28th. Finally, Vetr upgraded Vereit from a “buy” rating to a “strong-buy” rating and set a $9.84 price objective on the stock in a research note on Monday, April 4th. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $9.83.
The firm has a 50-day moving average price of $9.80 and a 200 day moving average price of $8.72. The stock’s market cap is $9.40 billion.
Vereit (NYSE:VER) last issued its earnings results on Thursday, May 5th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The firm earned $369 million during the quarter, compared to the consensus estimate of $328.93 million. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. Equities research analysts expect that Vereit Inc. will post $0.77 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be given a $0.1375 dividend. This represents a $0.55 dividend on an annualized basis and a yield of 5.34%. The ex-dividend date of this dividend is Tuesday, June 28th.
In related news, insider Thomas W. Roberts sold 100,000 shares of the business’s stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $9.82, for a total value of $982,000.00. Following the completion of the sale, the insider now directly owns 471,561 shares of the company’s stock, valued at approximately $4,630,729.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Other hedge funds have recently modified their holdings of the company. American Century Companies Inc. raised its stake in shares of Vereit by 683.6% in the fourth quarter. American Century Companies Inc. now owns 228,039 shares of the company’s stock worth $1,806,000 after buying an additional 198,937 shares during the last quarter. WFG Advisors LP raised its stake in shares of Vereit by 2.6% in the fourth quarter. WFG Advisors LP now owns 162,563 shares of the company’s stock worth $1,287,000 after buying an additional 4,081 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Vereit by 0.8% in the fourth quarter. Principal Financial Group Inc. now owns 4,655,793 shares of the company’s stock worth $36,874,000 after buying an additional 35,803 shares during the last quarter. Cornerstone Capital Management Holdings LLC. raised its stake in shares of Vereit by 50.7% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 1,142,587 shares of the company’s stock worth $9,049,000 after buying an additional 384,320 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of Vereit by 10.0% in the fourth quarter. Morgan Stanley now owns 9,833,235 shares of the company’s stock worth $77,879,000 after buying an additional 897,889 shares during the last quarter.
VEREIT, Inc, formerly American Realty Capital Properties, Inc, is a real estate operating company. The Company owns and manages a diversified portfolio of retail, restaurant, office and industrial real estate assets, including approximately 4,645 properties totaling 101.8 million square feet. In addition, the Company manages real estate investments on behalf of the Cole Capital non-traded real estate investment trust (REITs).
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