Vereit Inc. (VER) Shares Down 1.9%
Vereit Inc. (NYSE:VER)’s share price fell 1.9% during mid-day trading on Wednesday . The stock traded as low as $10.21 and last traded at $10.57, with a volume of 4,191,438 shares changing hands. The stock had previously closed at $10.77.
Several research firms have recently issued reports on VER. Zacks Investment Research lowered shares of Vereit from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. BMO Capital Markets reiterated a “buy” rating and set a $11.00 target price on shares of Vereit in a report on Thursday, June 16th. Finally, Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Vereit in a report on Monday, May 16th. One research 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. Vereit currently has a consensus rating of “Hold” and an average price target of $9.83.
The firm has a 50-day moving average price of $10.30 and a 200 day moving average price of $9.08. The stock’s market capitalization is $9.50 billion.
Vereit (NYSE:VER) last issued its earnings results on Thursday, August 4th. The company reported $0.19 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.19. During the same quarter in the prior year, the company earned $0.22 earnings per share. The company earned $371 million during the quarter, compared to the consensus estimate of $323.34 million. Vereit’s revenue was down 5.8% on a year-over-year basis. Equities research analysts anticipate that Vereit Inc. will post $0.77 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be paid a $0.1375 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.55 dividend on an annualized basis and a yield of 5.23%.
In other Vereit news, insider Thomas W. Roberts sold 100,000 shares of the company’s stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $9.82, for a total value of $982,000.00. Following the transaction, the insider now directly owns 471,561 shares in the company, valued at approximately $4,630,729.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Other institutional investors recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position 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 worth $89,637,000 after buying an additional 935,302 shares in the last quarter. Morgan Stanley increased its position 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 in the last quarter. WBI Investments Inc. increased its position 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 worth $18,822,000 after buying an additional 768,517 shares in the last quarter. BlackRock Advisors LLC increased its position in shares of Vereit by 25.0% in the fourth quarter. BlackRock Advisors LLC now owns 3,450,257 shares of the company’s stock worth $27,326,000 after buying an additional 688,970 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Vereit during the fourth quarter worth approximately $3,838,000.
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