Vereit Inc. (VER) Stock Price Down 1.9%
Vereit Inc. (NYSE:VER) shares dropped 1.9% during mid-day trading on Wednesday . The company traded as low as $10.21 and last traded at $10.57, with a volume of 4,191,438 shares trading hands. The stock had previously closed at $10.77.
VER has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Vereit from a “hold” rating to a “sell” rating in a report on Wednesday, April 27th. BMO Capital Markets restated a “buy” rating and issued a $11.00 target price on shares of Vereit in a report on Monday, May 16th. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Vereit in a report on Monday, May 16th. Finally, Capital One Financial Corp. upgraded shares of Vereit from an “equal weight” rating to an “overweight” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $9.83.
The firm has a 50-day moving average of $10.32 and a 200 day moving average of $9.10. The company’s market cap is $9.50 billion.
Vereit (NYSE:VER) last released its earnings results on Thursday, August 4th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.19. The firm had revenue of $371 million for the quarter, compared to analyst estimates of $323.34 million. During the same period in the previous year, the firm earned $0.22 earnings per share. Vereit’s revenue was down 5.8% on a year-over-year basis. Equities research analysts anticipate that Vereit Inc. will post $0.77 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be issued a dividend of $0.1375 per share. This represents a $0.55 dividend on an annualized basis and a yield of 5.24%. The ex-dividend date is Wednesday, September 28th.
In related news, insider Thomas W. Roberts sold 100,000 shares of Vereit 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 transaction, the insider now directly owns 471,561 shares of the company’s stock, valued at $4,630,729.02. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in 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 last quarter. Morgan Stanley raised its position in 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 last quarter. WBI Investments Inc. raised its position in 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 last quarter. BlackRock Advisors LLC raised its position 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 during the last quarter. Finally, Marshall Wace LLP purchased a new position in Vereit during the fourth quarter worth about $3,838,000.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.