Vereit Inc. (VER) Reaches New 12-Month High at $10.87
Vereit Inc. (NYSE:VER) reached a new 52-week high during trading on Thursday . The company traded as high as $10.87 and last traded at $10.81, with a volume of 5,739,026 shares trading hands. The stock had previously closed at $10.69.
VER has been the topic of a number of analyst reports. 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. Zacks Investment Research lowered Vereit from a “hold” rating to a “sell” rating in a research report on Wednesday, April 27th. BMO Capital Markets reiterated a “buy” rating and issued a $11.00 price target on shares of Vereit in a research report on Monday, May 16th. Finally, Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Vereit in a research report on Monday, May 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $9.83.
The stock’s 50-day moving average price is $10.22 and its 200 day moving average price is $9.00. The firm’s market cap is $10.00 billion.
Vereit (NYSE:VER) last released its quarterly earnings results on Thursday, May 5th. The company reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.01. The firm had revenue of $369 million for the quarter, compared to analysts’ expectations of $328.93 million. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, analysts predict that Vereit Inc. will post $0.77 earnings per share for the current fiscal year.
The company also recently declared 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 firm’s stock in a transaction dated 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 owns 471,561 shares in the company, valued at $4,630,729.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Other hedge funds and institutional investors recently made changes to their positions in the company. 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 during the period. 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 during the period. Employees Retirement System of Texas bought a new position in shares of Vereit during the fourth quarter worth about $2,178,000. 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 during the period. Finally, Marshall Wace LLP bought a new position in shares of Vereit during the fourth quarter worth about $3,838,000.
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).
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