Public Sector Pension investment Board Maintains Position in VEREIT Inc. (VER)
Public Sector Pension investment Board continued to hold its position in VEREIT Inc. (NYSE:VER) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,781,179 shares of the financial services provider’s stock at the end of the second quarter. VEREIT accounts for 0.5% of Public Sector Pension investment Board’s investment portfolio, making the stock its 28th biggest position. Public Sector Pension investment Board owned 0.70% of VEREIT worth $55,199,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. lifted its stake in shares of VEREIT by 227.0% in the 2nd quarter. D.A. Davidson & CO. now owns 21,148 shares of the financial services provider’s stock valued at $172,000 after purchasing an additional 14,680 shares during the period. UBS Asset Management Americas Inc. lifted its stake in shares of VEREIT by 11.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 7,923,008 shares of the financial services provider’s stock valued at $64,493,000 after purchasing an additional 825,368 shares during the period. Lazard Asset Management LLC lifted its stake in shares of VEREIT by 6.7% in the 2nd quarter. Lazard Asset Management LLC now owns 314,722 shares of the financial services provider’s stock valued at $2,561,000 after purchasing an additional 19,900 shares during the period. New York State Common Retirement Fund lifted its stake in shares of VEREIT by 0.5% in the 2nd quarter. New York State Common Retirement Fund now owns 2,106,000 shares of the financial services provider’s stock valued at $17,143,000 after purchasing an additional 10,499 shares during the period. Finally, Fosun International Ltd purchased a new position in shares of VEREIT in the 2nd quarter valued at approximately $15,622,000. Institutional investors own 85.99% of the company’s stock.
A number of research analysts have recently commented on VER shares. Zacks Investment Research cut VEREIT from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. BidaskClub upgraded VEREIT from a “sell” rating to a “hold” rating in a research note on Sunday, July 16th. Finally, ValuEngine cut 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, four have given a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $9.80.
Shares of VEREIT Inc. (VER) traded down 0.523% on Wednesday, reaching $8.555. The company’s stock had a trading volume of 1,496,209 shares. VEREIT Inc. has a one year low of $7.44 and a one year high of $10.44. The firm’s market capitalization is $8.33 billion. The firm has a 50-day moving average price of $8.53 and a 200 day moving average price of $8.36.
VEREIT (NYSE:VER) last issued its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.02 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.16). VEREIT had a negative net margin of 2.72% and a negative return on equity of 0.44%. The business had revenue of $336.90 million for the quarter, compared to analysts’ expectations of $296.02 million. During the same quarter in the prior year, the company posted $0.19 EPS. The business’s revenue for the quarter was down 9.2% on a year-over-year basis. On average, analysts anticipate that VEREIT Inc. will post ($1.70) earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.138 per share. This represents a $0.55 annualized dividend and a dividend yield of 6.42%. The ex-dividend date of this dividend is Thursday, September 28th. This is a positive change from VEREIT’s previous quarterly dividend of $0.14. VEREIT’s dividend payout ratio is currently -499.95%.
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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.
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