Vereit Inc. (VER) Sees Large Volume Increase
Shares of Vereit Inc. (NYSE:VER) saw strong trading volume on Friday . 15,265,656 shares traded hands during mid-day trading, an increase of 88% from the previous session’s volume of 8,110,969 shares.The stock last traded at $11.05 and had previously closed at $10.78.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research lowered Vereit from a “hold” rating to a “sell” rating in a research report on Tuesday, July 19th. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Vereit in a research report on Monday, May 16th. BMO Capital Markets reiterated a “buy” rating and issued a $11.00 price objective on shares of Vereit in a research report on Monday, May 16th. Finally, Vetr upgraded Vereit from a “buy” rating to a “strong-buy” rating and set a $9.84 price objective on the stock in a research report on Monday, April 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Vereit presently has a consensus rating of “Hold” and an average price target of $9.83.
The stock’s market cap is $10.00 billion. The firm’s 50 day moving average is $10.22 and its 200-day moving average is $9.00.
Vereit (NYSE:VER) last issued its quarterly earnings data on Thursday, May 5th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The company had revenue of $369 million for the quarter, compared to analysts’ expectations of $328.93 million. The business’s revenue was down 6.3% compared to the same quarter last year. Equities research analysts predict that Vereit Inc. will post $0.77 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were given a dividend of $0.1375 per share. The ex-dividend date was Tuesday, June 28th. This represents a $0.55 dividend on an annualized basis and a yield of 4.97%.
In other Vereit news, insider Thomas W. Roberts sold 100,000 shares of the company’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 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 SEC, which is available at the SEC website.
Other large investors recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake 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 during the period. Morgan Stanley increased its stake 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 during the period. Principal Financial Group Inc. increased its stake in shares of 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. BlackRock Advisors LLC increased its stake 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 during the period. Finally, WBI Investments Inc. increased its stake 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 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).