Analysts Set Vereit Inc. (VER) Target Price at $10.09
Vereit Inc. (NYSE:VER) has been assigned an average recommendation of “Buy” from the eight brokerages that are currently covering the stock. Four research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $9.97.
A number of equities analysts recently issued reports on the stock. Mizuho assumed coverage on shares of Vereit in a research report on Thursday. They issued a “neutral” rating and a $9.50 target price for the company. Zacks Investment Research upgraded shares of Vereit from a “sell” rating to a “hold” rating in a research report on Tuesday, August 9th. Finally, Capital One Financial Corp. upgraded shares of Vereit from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 5th.
Several institutional investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC raised its position in Vereit by 0.5% in the second quarter. Quadrant Capital Group LLC now owns 10,366 shares of the company’s stock valued at $104,000 after buying an additional 56 shares during the period. Crossvault Capital Management LLC purchased a new stake in Vereit during the second quarter worth approximately $106,000. Regal Investment Advisors LLC purchased a new stake in Vereit during the second quarter worth approximately $106,000. Mizuho Asset Management Co. Ltd. purchased a new stake in Vereit during the second quarter worth approximately $106,000. Finally, Veritable L.P. purchased a new stake in Vereit during the second quarter worth approximately $109,000. Institutional investors own 75.58% of the company’s stock.
Vereit (NYSE:VER) opened at 9.70 on Thursday. The firm’s market cap is $8.77 billion. The stock has a 50 day moving average of $10.10 and a 200-day moving average of $9.88. Vereit has a 52-week low of $6.68 and a 52-week high of $11.09.
Vereit (NYSE:VER) last announced its earnings results on Thursday, August 4th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.19. The firm earned $371 million during the quarter, compared to analyst estimates of $323.34 million. Vereit had a negative net margin of 19.21% and a negative return on equity of 3.36%. Vereit’s revenue was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.22 EPS. On average, analysts expect that Vereit will post $0.77 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be given a dividend of $0.1375 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.55 annualized dividend and a dividend yield of 5.67%. Vereit’s dividend payout ratio (DPR) is -134.15%.
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