IBM Retirement Fund Has $247,000 Stake in VEREIT Inc. (VER)
IBM Retirement Fund raised its holdings in shares of VEREIT Inc. (NYSE:VER) by 87.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,664 shares of the financial services provider’s stock after acquiring an additional 12,411 shares during the quarter. IBM Retirement Fund’s holdings in VEREIT were worth $247,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in VER. Xact Kapitalforvaltning AB boosted its position in shares of VEREIT by 20.9% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 99,700 shares of the financial services provider’s stock worth $812,000 after acquiring an additional 17,257 shares in the last quarter. NN Investment Partners Holdings N.V. boosted its position in shares of VEREIT by 114.5% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 91,270 shares of the financial services provider’s stock worth $743,000 after acquiring an additional 48,729 shares in the last quarter. Creative Planning boosted its position in shares of VEREIT by 15.0% in the 2nd quarter. Creative Planning now owns 14,959 shares of the financial services provider’s stock valued at $122,000 after purchasing an additional 1,950 shares during the period. Meeder Asset Management Inc. boosted its position in shares of VEREIT by 1,149.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 28,914 shares of the financial services provider’s stock valued at $235,000 after purchasing an additional 26,599 shares during the period. Finally, Mn Services Vermogensbeheer B.V. boosted its position in shares of VEREIT by 508.7% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 158,146 shares of the financial services provider’s stock valued at $1,287,000 after purchasing an additional 132,166 shares during the period. 84.87% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently issued reports on the company. Zacks Investment Research cut VEREIT from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. ValuEngine raised VEREIT from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. BidaskClub cut VEREIT from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, Stifel Nicolaus reissued a “hold” rating on shares of VEREIT in a research report on Wednesday, November 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $9.81.
VEREIT Inc. (NYSE:VER) remained flat at $$8.00 during trading on Thursday. The company had a trading volume of 3,922,750 shares, compared to its average volume of 8,481,703. VEREIT Inc. has a 52 week low of $7.44 and a 52 week high of $9.12. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market capitalization of $7,920.47, a price-to-earnings ratio of 11.14 and a beta of 0.74.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be given a dividend of $0.138 per share. The ex-dividend date is Thursday, December 28th. This represents a $0.55 dividend on an annualized basis and a yield of 6.90%. VEREIT’s payout ratio is -549.95%.
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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