Vereit Inc. (VER) Hits New 1-Year High at $10.39
Vereit Inc. (NYSE:VER) shares hit 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 changing hands. The stock had previously closed at $10.30.
Several research analysts have recently issued reports on the stock. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Vereit in a report on Monday, May 16th. BMO Capital Markets reiterated a “buy” rating and set a $11.00 price target on shares of Vereit in a research note on Monday, May 16th. Zacks Investment Research upgraded shares of Vereit from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Tuesday, May 10th. Vetr upgraded shares of Vereit from a “buy” rating to a “strong-buy” rating and set a $9.84 price target for the company in a research note on Monday, April 4th. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating and set a $9.50 price target on shares of Vereit in a research note on Monday, March 28th. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $9.83.
The stock’s market capitalization is $9.35 billion. The company has a 50 day moving average of $9.86 and a 200-day moving average of $8.76.
Vereit (NYSE:VER) last posted its quarterly earnings data on Thursday, May 5th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $369 million for the quarter, compared to analysts’ expectations of $328.93 million. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, equities analysts expect that Vereit Inc. will post $0.77 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be paid a $0.1375 dividend. The ex-dividend date of this dividend is Tuesday, June 28th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.32%.
In related news, insider Thomas W. Roberts sold 100,000 shares of Vereit stock in a transaction on Wednesday, June 8th. The shares were 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 owns 471,561 shares in the company, valued at $4,630,729.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Several hedge funds recently modified their holdings of VER. 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 period. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its stake in shares of Vereit by 4.3% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 233,664 shares of the company’s stock worth $1,851,000 after buying an additional 9,579 shares during the period. First Trust Advisors LP raised its stake in shares of Vereit by 6.3% in the fourth quarter. First Trust Advisors LP now owns 351,730 shares of the company’s stock worth $2,786,000 after buying an additional 20,692 shares during the period. Swiss National Bank raised its stake in shares of Vereit by 1.4% in the fourth quarter. Swiss National Bank now owns 1,637,781 shares of the company’s stock worth $12,971,000 after buying an additional 22,600 shares during the period. Finally, ProShare Advisors LLC raised its stake in shares of Vereit by 11.9% in the fourth quarter. ProShare Advisors LLC now owns 326,987 shares of the company’s stock worth $2,590,000 after buying an additional 34,678 shares during the period.
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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