Vereit Inc. (VER) Sees Strong Trading Volume
Shares of Vereit Inc. (NYSE:VER) saw an uptick in trading volume on Friday . 47,966,463 shares were traded during trading, an increase of 398% from the previous session’s volume of 9,622,352 shares.The stock last traded at $10.49 and had previously closed at $10.49.
A number of equities analysts have issued reports on the stock. Capital One Financial Corp. raised shares of Vereit from an “equal weight” rating to an “overweight” rating in a report on Friday. Zacks Investment Research downgraded shares of Vereit from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. BMO Capital Markets reaffirmed a “buy” rating and set a $11.00 price objective on shares of Vereit in a report on Thursday, June 16th. Finally, Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Vereit in a report on Monday, May 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $9.83.
The company’s market cap is $9.44 billion. The firm has a 50-day moving average price of $10.34 and a 200 day moving average price of $9.10.
Vereit (NYSE:VER) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19. The business earned $371 million during the quarter, compared to analysts’ expectations of $323.34 million. The business’s revenue was down 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.22 EPS. On average, analysts predict that Vereit Inc. will post $0.76 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be paid a $0.1375 dividend. This represents a $0.55 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date is Wednesday, September 28th.
In other Vereit 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 value of $982,000.00. Following the completion of the transaction, the insider now owns 471,561 shares in the company, valued at $4,630,729.02. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
A number of institutional investors have recently bought and sold shares of VER. Andra AP fonden increased its position in Vereit by 43.6% in the fourth quarter. Andra AP fonden now owns 198,400 shares of the company’s stock worth $1,571,000 after buying an additional 60,200 shares during the period. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its position in 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. Employees Retirement System of Texas purchased a new position in Vereit during the fourth quarter worth about $2,178,000. First Trust Advisors LP increased its position in 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. Finally, Marshall Wace LLP purchased a new position in Vereit during the fourth quarter worth about $3,838,000.
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