Vereit Inc. (VER) Sees Unusually-High Trading Volume
Vereit Inc. (NYSE:VER) shares saw unusually-high trading volume on Friday . Approximately 47,966,463 shares changed hands during mid-day trading, an increase of 398% from the previous session’s volume of 9,622,352 shares.The stock last traded at $10.49 and had previously closed at $10.49.
VER has been the subject of a number of research reports. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Vereit in a research note on Monday, May 16th. Zacks Investment Research raised Vereit from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Tuesday, May 10th. BMO Capital Markets reaffirmed a “buy” rating on shares of Vereit in a research note on Tuesday, May 24th. Finally, Capital One Financial Corp. raised Vereit from an “equal weight” rating to an “overweight” rating in a research note on Friday. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $9.83.
The company’s market capitalization is $9.44 billion. The stock’s 50-day moving average price is $10.34 and its 200-day moving average price is $9.11.
Vereit (NYSE:VER) last posted its earnings results on Thursday, August 4th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.19. During the same period in the previous year, the company posted $0.22 EPS. The company earned $371 million during the quarter, compared to analysts’ expectations of $323.34 million. Vereit’s quarterly revenue was down 5.8% compared to the same quarter last year. Equities research analysts anticipate that Vereit Inc. will post $0.76 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be paid a $0.1375 dividend. This represents a $0.55 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date of this dividend is Wednesday, September 28th.
In related 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 value of $982,000.00. Following the sale, the insider now owns 471,561 shares of the company’s stock, valued at approximately $4,630,729.02. The transaction was disclosed in a filing with the SEC, which is available through this link.
Several hedge funds and institutional investors have modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised 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. First Trust Advisors LP raised 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. Principal Financial Group Inc. raised its position 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 in the last quarter. Andra AP fonden raised 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. Finally, Employees Retirement System of Texas acquired a new position in shares of Vereit during the fourth quarter worth $2,178,000.
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.