Marshall Wace LLP Invests $7.51 Million in Vereit Inc (VER)
Marshall Wace LLP bought a new position in Vereit Inc (NYSE:VER) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,009,453 shares of the financial services provider’s stock, valued at approximately $7,510,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. grew its stake in shares of Vereit by 25.6% in the first quarter. Sunbelt Securities Inc. now owns 36,436 shares of the financial services provider’s stock worth $254,000 after acquiring an additional 7,419 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Vereit by 0.5% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,872,900 shares of the financial services provider’s stock valued at $13,934,000 after purchasing an additional 8,400 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Vereit by 16.9% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 60,636 shares of the financial services provider’s stock valued at $451,000 after purchasing an additional 8,778 shares in the last quarter. First Republic Investment Management Inc. lifted its holdings in shares of Vereit by 2.5% during the second quarter. First Republic Investment Management Inc. now owns 366,232 shares of the financial services provider’s stock valued at $2,725,000 after purchasing an additional 9,075 shares in the last quarter. Finally, Toronto Dominion Bank lifted its holdings in shares of Vereit by 16.1% during the first quarter. Toronto Dominion Bank now owns 66,689 shares of the financial services provider’s stock valued at $464,000 after purchasing an additional 9,270 shares in the last quarter. 87.55% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP Gavin Brandon sold 20,877 shares of the company’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $7.68, for a total transaction of $160,335.36. Following the transaction, the senior vice president now directly owns 35,462 shares of the company’s stock, valued at $272,348.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.09% of the company’s stock.
Vereit (NYSE:VER) last announced its quarterly earnings results on Friday, August 3rd. The financial services provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.27). The business had revenue of $315.60 million for the quarter, compared to the consensus estimate of $297.35 million. Vereit had a negative net margin of 4.44% and a negative return on equity of 0.40%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.18 earnings per share. research analysts predict that Vereit Inc will post 0.69 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be issued a dividend of $0.1375 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 7.23%. The ex-dividend date of this dividend is Thursday, September 27th. Vereit’s payout ratio is currently 78.57%.
A number of research analysts have recently issued reports on the company. Mizuho set a $8.00 price target on Vereit and gave the company a “hold” rating in a report on Monday, August 13th. Zacks Investment Research downgraded Vereit from a “hold” rating to a “sell” rating in a report on Thursday, May 24th. ValuEngine raised Vereit from a “sell” rating to a “hold” rating in a report on Saturday, August 18th. Finally, Evercore ISI reaffirmed an “in-line” rating on shares of Vereit in a report on Friday, June 1st. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $8.75.
VEREIT is a full-service real estate operating company which owns and manages one of the largest portfolios of single-tenant commercial properties in the U.S. The Company has a total asset book value of $14.3 billion including approximately 4,000 properties and 94.6 million square feet. VEREIT's business model provides equity capital to creditworthy corporations in return for long-term leases on their properties.
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