Vereit Inc. (VER) Hits New 52-Week High at $10.49
Vereit Inc. (NYSE:VER)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $10.49 and last traded at $10.45, with a volume of 4,422,848 shares. The stock had previously closed at $10.38.
Several equities analysts recently issued reports on the company. BMO Capital Markets reissued a “buy” rating and set a $11.00 target price on shares of Vereit in a research note on Thursday, June 16th. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Vereit in a research note on Monday, May 16th. Zacks Investment Research lowered Vereit from a “buy” rating to a “hold” rating in a research note on Wednesday, May 11th. Vetr raised Vereit from a “buy” rating to a “strong-buy” rating and set a $9.84 target price on the stock in a research note on Monday, April 4th. Finally, Goldman Sachs Group Inc. reissued a “buy” rating and set a $9.50 target price on shares of Vereit in a research note on Monday, March 28th. 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 company. The stock currently has an average rating of “Buy” and a consensus price target of $9.83.
The firm has a 50 day moving average of $9.94 and a 200 day moving average of $8.80. The firm’s market cap is $9.45 billion.
Vereit (NYSE:VER) last announced its quarterly earnings data on Thursday, May 5th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 revenue for the quarter was down 6.3% compared to the same quarter last year. On average, equities research analysts forecast that Vereit Inc. will post $0.77 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were issued a dividend of $0.1375 per share. The ex-dividend date of this dividend was Tuesday, June 28th. This represents a $0.55 annualized dividend and a dividend yield of 5.30%.
In related news, insider Thomas W. Roberts sold 100,000 shares of the stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $9.82, for a total transaction of $982,000.00. Following the completion of the sale, the insider now directly owns 471,561 shares in the company, valued at $4,630,729.02. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Other hedge funds have recently made changes to their positions in the company. Employees Retirement System of Texas purchased a new stake in shares of Vereit during the fourth quarter valued at about $2,178,000. Dimensional Fund Advisors LP raised its stake in shares of Vereit by 9.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,317,757 shares of the company’s stock valued at $89,637,000 after buying an additional 935,302 shares in the last quarter. WBI Investments Inc. raised its stake in shares of Vereit by 47.8% in the fourth quarter. WBI Investments Inc. now owns 2,376,540 shares of the company’s stock valued at $18,822,000 after buying an additional 768,517 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Vereit during the fourth quarter valued at about $3,838,000. Finally, Andra AP fonden raised its stake in shares of Vereit by 43.6% in the fourth quarter. Andra AP fonden now owns 198,400 shares of the company’s stock valued at $1,571,000 after buying an additional 60,200 shares in 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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