Wells Fargo & Company MN Sells 12,292 Shares of VEREIT Inc. (VER)
Wells Fargo & Company MN lessened its holdings in VEREIT Inc. (NYSE:VER) by 1.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,143,427 shares of the financial services provider’s stock after selling 12,292 shares during the quarter. Wells Fargo & Company MN owned about 0.12% of VEREIT worth $9,308,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. grew its holdings in VEREIT by 3,227.7% in the first quarter. BlackRock Inc. now owns 76,790,678 shares of the financial services provider’s stock worth $651,955,000 after purchasing an additional 74,483,066 shares during the period. Dimensional Fund Advisors LP grew its holdings in VEREIT by 4.7% in the first quarter. Dimensional Fund Advisors LP now owns 12,868,146 shares of the financial services provider’s stock worth $109,250,000 after purchasing an additional 582,551 shares during the period. LSV Asset Management grew its holdings in VEREIT by 13.1% in the second quarter. LSV Asset Management now owns 11,000,500 shares of the financial services provider’s stock worth $89,544,000 after purchasing an additional 1,277,400 shares during the period. Morgan Stanley grew its holdings in VEREIT by 43.9% in the first quarter. Morgan Stanley now owns 10,594,933 shares of the financial services provider’s stock worth $89,951,000 after purchasing an additional 3,229,897 shares during the period. Finally, Prudential Financial Inc. grew its holdings in VEREIT by 22.8% in the second quarter. Prudential Financial Inc. now owns 9,987,986 shares of the financial services provider’s stock worth $81,303,000 after purchasing an additional 1,855,265 shares during the period. Institutional investors and hedge funds own 85.99% of the company’s stock.
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Shares of VEREIT Inc. (VER) opened at 8.35 on Friday. The stock’s 50 day moving average is $8.50 and its 200-day moving average is $8.36. VEREIT Inc. has a 12-month low of $7.44 and a 12-month high of $9.84. The stock’s market cap is $8.13 billion.
VEREIT (NYSE:VER) last posted 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). The firm had revenue of $336.90 million for the quarter, compared to the consensus estimate of $296.02 million. VEREIT had a negative return on equity of 0.44% and a negative net margin of 2.72%. The company’s revenue was down 9.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.19 EPS. Equities analysts expect that VEREIT Inc. will post ($1.70) EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a dividend of $0.138 per share. This represents a $0.55 annualized dividend and a dividend yield of 6.61%. The ex-dividend date is Thursday, September 28th. This is a positive change from VEREIT’s previous quarterly dividend of $0.14. VEREIT’s payout ratio is -499.95%.
VER has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of VEREIT from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a report on Wednesday, July 19th. BidaskClub upgraded shares of VEREIT from a “sell” rating to a “hold” rating in a report on Sunday, July 16th. Finally, ValuEngine upgraded shares of VEREIT from a “hold” rating to a “buy” rating in a report on Friday. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. VEREIT currently has an average rating of “Hold” and a consensus price target of $9.80.
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.
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