JPMorgan Chase & Co. Acquires 1,169,067 Shares of VEREIT Inc. (VER)
JPMorgan Chase & Co. raised its holdings in shares of VEREIT Inc. (NYSE:VER) by 47.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,625,937 shares of the financial services provider’s stock after purchasing an additional 1,169,067 shares during the period. JPMorgan Chase & Co. owned about 0.37% of VEREIT worth $30,168,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in VER. Creative Planning increased its stake in VEREIT by 15.0% during the second 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 last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of VEREIT by 64.2% during the second quarter. Janney Montgomery Scott LLC now owns 49,575 shares of the financial services provider’s stock valued at $404,000 after acquiring an additional 19,375 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of VEREIT by 3.6% during the second quarter. CIBC Asset Management Inc now owns 48,788 shares of the financial services provider’s stock valued at $397,000 after acquiring an additional 1,683 shares during the period. State of New Jersey Common Pension Fund D boosted its holdings in shares of VEREIT by 42.9% during the second quarter. State of New Jersey Common Pension Fund D now owns 400,000 shares of the financial services provider’s stock valued at $3,256,000 after acquiring an additional 120,000 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of VEREIT by 16.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 3,407,713 shares of the financial services provider’s stock valued at $27,739,000 after acquiring an additional 475,623 shares during the period. Hedge funds and other institutional investors own 85.28% of the company’s stock.
Several equities analysts have recently issued reports on VER shares. Zacks Investment Research downgraded shares of VEREIT from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. Stifel Nicolaus reissued a “hold” rating on shares of VEREIT in a report on Wednesday, November 1st. Finally, ValuEngine raised shares of VEREIT from a “hold” rating to a “buy” rating in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. VEREIT presently has a consensus rating of “Buy” and an average price target of $9.81.
VEREIT Inc. (NYSE VER) traded down $0.05 during mid-day trading on Wednesday, reaching $7.86. 5,079,000 shares of the company traded hands, compared to its average volume of 8,510,236. The firm has a market capitalization of $7,706.14, a P/E ratio of 10.84 and a beta of 0.73. VEREIT Inc. has a 1-year low of $7.44 and a 1-year high of $9.12. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.60.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a $0.138 dividend. This represents a $0.55 annualized dividend and a yield of 7.02%. The ex-dividend date of this dividend is Thursday, December 28th. VEREIT’s payout ratio is currently -549.95%.
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VEREIT Company Profile
VEREIT, Inc is a full-service real estate operating company. The Company owns and manages a diversified portfolio of retail, restaurant, office and industrial real estate assets. It operates through two segments: real estate investment (REI) segment and its investment management segment, Cole Capital.
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