Vereit Inc. (VER) Sees Unusually-High Trading Volume
Vereit Inc. (NYSE:VER) shares saw strong trading volume on Friday . 15,265,656 shares changed hands during 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 commented on VER shares. Zacks Investment Research cut shares of Vereit from a “hold” rating to a “sell” rating in a report on Tuesday, May 3rd. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Vereit in a report on Monday, May 16th. BMO Capital Markets restated a “buy” rating and issued a $11.00 price target on shares of Vereit in a report on Thursday, June 16th. Finally, Vetr upgraded shares of Vereit from a “buy” rating to a “strong-buy” rating and set a $9.84 price target for the company in a report on Monday, April 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price 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 capitalization is $10.00 billion.
Vereit (NYSE:VER) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.21 EPS 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 the consensus estimate of $328.93 million. The company’s quarterly revenue was down 6.3% on a year-over-year basis. On average, equities analysts anticipate that Vereit Inc. will post $0.77 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were issued a dividend of $0.1375 per share. 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 4.97%.
In related news, insider Thomas W. Roberts sold 100,000 shares of the company’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $9.82, for a total transaction of $982,000.00. Following the completion of the sale, the insider now directly owns 471,561 shares in the company, valued at approximately $4,630,729.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Other large investors have recently bought and sold shares of the company. BlackRock Advisors LLC raised its stake in 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 in the last quarter. Employees Retirement System of Texas bought a new position in shares of Vereit during the fourth quarter valued at approximately $2,178,000. Dimensional Fund Advisors LP raised its position 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 valued at $89,637,000 after buying an additional 935,302 shares during the period. WBI Investments Inc. raised its position 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 valued at $18,822,000 after buying an additional 768,517 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of Vereit during the fourth quarter valued at approximately $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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