Vereit Inc. (VER) Hits New 1-Year High at $10.49
Shares of Vereit Inc. (NYSE:VER) hit a new 52-week high during trading on Monday . The company traded as high as $10.49 and last traded at $10.45, with a volume of 4,422,848 shares changing hands. The stock had previously closed at $10.38.
VER has been the topic of a number of research reports. Goldman Sachs Group Inc. restated a “buy” rating and set a $9.50 target price on shares of Vereit in a report on Monday, March 28th. Vetr upgraded shares of Vereit from a “buy” rating to a “strong-buy” rating and set a $9.84 target price on the stock in a report on Monday, April 4th. Zacks Investment Research cut shares of Vereit from a “hold” rating to a “sell” rating in a report on Wednesday, April 27th. BMO Capital Markets restated a “buy” rating and set a $11.00 target price on shares of Vereit in a report on Monday, May 16th. Finally, Oppenheimer Holdings Inc. restated a “hold” rating on shares of Vereit in a report on Monday, May 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $9.83.
The company’s market cap is $9.57 billion. The stock’s 50-day moving average is $9.99 and its 200-day moving average is $8.84.
Vereit (NYSE:VER) last issued its quarterly earnings results on Thursday, May 5th. The company reported $0.21 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 analysts forecast that Vereit Inc. will post $0.77 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were given a dividend of $0.1375 per share. This represents a $0.55 annualized dividend and a dividend yield of 5.19%. The ex-dividend date was Tuesday, June 28th.
In related news, insider Thomas W. Roberts sold 100,000 shares of the business’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Other institutional investors recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Vereit by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 130,549,044 shares of the company’s stock worth $1,033,948,000 after buying an additional 4,437,871 shares during the period. Dimensional Fund Advisors LP raised its position in Vereit by 9.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,317,757 shares of the company’s stock worth $89,637,000 after buying an additional 935,302 shares during the period. Morgan Stanley raised its position in 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 period. Principal Financial Group Inc. raised its position in 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 period. Finally, WBI Investments Inc. raised its position in Vereit by 47.8% in the fourth quarter. WBI Investments Inc. now owns 2,376,540 shares of the company’s stock worth $18,822,000 after buying an additional 768,517 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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