VEREIT Inc. (NYSE:VER) posted its quarterly earnings data on Thursday. The financial services provider reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.16, MarketWatch Earnings reports. The business had revenue of $336.90 million during the quarter, compared to analyst estimates of $296.02 million. VEREIT had a negative return on equity of 0.44% and a negative net margin of 2.72%. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 EPS. VEREIT updated its FY17 guidance to $0.71-0.73 EPS.

VEREIT (VER) opened at 8.60 on Friday. VEREIT has a 52 week low of $7.44 and a 52 week high of $10.77. The stock’s market cap is $8.38 billion. The company has a 50-day moving average price of $8.27 and a 200-day moving average price of $8.40.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a $0.138 dividend. This is a positive change from VEREIT’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.55 dividend on an annualized basis and a yield of 6.42%. VEREIT’s dividend payout ratio (DPR) is -499.95%.

VER has been the subject of a number of recent analyst reports. Evercore ISI reissued an “in-line” rating and issued a $9.00 price objective on shares of VEREIT in a research report on Wednesday, April 26th. Zacks Investment Research cut VEREIT from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. BidaskClub upgraded VEREIT from a “sell” rating to a “hold” rating in a research note on Sunday, July 16th. Finally, ValuEngine lowered VEREIT from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $9.80.

VEREIT declared that its Board of Directors has initiated a share buyback program on Monday, May 15th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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In related news, CEO Glenn J. Rufrano acquired 32,000 shares of the firm’s stock in a transaction on Monday, May 8th. The stock was bought at an average price of $7.81 per share, for a total transaction of $249,920.00. Following the completion of the purchase, the chief executive officer now directly owns 1,962,657 shares of the company’s stock, valued at approximately $15,328,351.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas W. Roberts acquired 15,000 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was bought at an average price of $7.60 per share, with a total value of $114,000.00. Following the purchase, the insider now directly owns 599,876 shares of the company’s stock, valued at $4,559,057.60. The disclosure for this purchase can be found here. Insiders acquired 81,725 shares of company stock valued at $628,409 in the last 90 days. 0.09% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in VER. Quadrant Capital Group LLC increased its position in VEREIT by 10.2% in the first quarter. Quadrant Capital Group LLC now owns 12,329 shares of the financial services provider’s stock valued at $101,000 after buying an additional 1,140 shares in the last quarter. Stratos Wealth Partners LTD. bought a new position in VEREIT during the first quarter valued at about $105,000. Creative Planning increased its position in VEREIT by 9.0% in the first quarter. Creative Planning now owns 13,009 shares of the financial services provider’s stock valued at $110,000 after buying an additional 1,069 shares in the last quarter. IBM Retirement Fund increased its position in VEREIT by 31.3% in the second quarter. IBM Retirement Fund now owns 14,253 shares of the financial services provider’s stock valued at $116,000 after buying an additional 3,395 shares in the last quarter. Finally, V Wealth Management LLC increased its position in VEREIT by 4.3% in the first quarter. V Wealth Management LLC now owns 14,017 shares of the financial services provider’s stock valued at $119,000 after buying an additional 578 shares in the last quarter. Institutional investors own 85.40% of the company’s stock.

VEREIT Company Profile

VEREIT, Inc is a full-service real estate operating company. The Company operates through two business segments: real estate investment (REI) segment and investment management segment, Cole Capital. As of December 31, 2016, through its REI segment, the Company owned and managed a portfolio of 4,142 retail, restaurant, office and industrial real estate properties with an aggregate of 93.3 million square feet, which are located in 49 states, Puerto Rico and Canada.

Earnings History for VEREIT (NYSE:VER)

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