Vereit Inc. (VER) Reaches New 12-Month High at $10.87
Vereit Inc. (NYSE:VER)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $10.87 and last traded at $10.81, with a volume of 5,739,026 shares changing hands. The stock had previously closed at $10.69.
Several equities analysts recently issued reports on the company. Vetr upgraded Vereit from a “buy” rating to a “strong-buy” rating and set a $9.84 price target on the stock in a research report on Monday, April 4th. BMO Capital Markets restated a “buy” rating and issued a $11.00 price target on shares of Vereit in a research report on Monday, May 16th. Zacks Investment Research cut Vereit from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th. Finally, Oppenheimer Holdings Inc. restated a “hold” rating on shares of Vereit in a research report on Monday, May 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.83.
The stock has a 50-day moving average of $10.16 and a 200-day moving average of $8.96. The firm’s market cap is $9.74 billion.
Vereit (NYSE:VER) last issued its quarterly earnings results on Thursday, May 5th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.20 by $0.01. The company had revenue of $369 million for the quarter, compared to the consensus estimate of $328.93 million. The firm’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 firm also recently announced a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were issued a $0.1375 dividend. The ex-dividend date of this dividend was Tuesday, June 28th. This represents a $0.55 dividend on an annualized basis and a yield of 5.10%.
In other Vereit news, insider Thomas W. Roberts sold 100,000 shares of the firm’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 owns 471,561 shares of the company’s stock, valued at $4,630,729.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
A number of institutional investors have modified their holdings of the company. WFG Advisors LP boosted its position in shares of Vereit by 2.6% in the fourth quarter. WFG Advisors LP now owns 162,563 shares of the company’s stock worth $1,287,000 after buying an additional 4,081 shares in the last quarter. Andra AP fonden boosted its position in shares of 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 in the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted its position in shares of 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 in the last quarter. Employees Retirement System of Texas acquired a new position in shares of Vereit during the fourth quarter worth about $2,178,000. Finally, First Trust Advisors LP boosted its position in shares of 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 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).