NN Investment Partners Holdings N.V. Buys 79,107 Shares of Vereit Inc (VER)
NN Investment Partners Holdings N.V. raised its stake in shares of Vereit Inc (NYSE:VER) by 251.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,536 shares of the financial services provider’s stock after purchasing an additional 79,107 shares during the period. NN Investment Partners Holdings N.V.’s holdings in Vereit were worth $803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Qube Research & Technologies Ltd purchased a new stake in Vereit during the second quarter valued at approximately $130,000. Lourd Capital LLC purchased a new stake in Vereit during the third quarter valued at approximately $161,000. Kovack Advisors Inc. raised its position in Vereit by 54.8% during the third quarter. Kovack Advisors Inc. now owns 23,274 shares of the financial services provider’s stock valued at $169,000 after purchasing an additional 8,235 shares during the period. HighPoint Advisor Group LLC purchased a new stake in Vereit during the third quarter valued at approximately $169,000. Finally, Oakbrook Investments LLC purchased a new stake in Vereit during the third quarter valued at approximately $171,000. Institutional investors and hedge funds own 87.44% of the company’s stock.
VER has been the topic of a number of recent research reports. ValuEngine upgraded Vereit from a “sell” rating to a “hold” rating in a research report on Saturday, August 18th. Mizuho set a $8.00 price objective on Vereit and gave the company a “hold” rating in a research report on Monday, August 13th. Robert W. Baird started coverage on Vereit in a research report on Monday, October 22nd. They set an “outperform” rating and a $9.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their target price on Vereit from $8.00 to $9.00 and gave the company an “overweight” rating in a research note on Monday, September 17th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $8.85.
Vereit (NYSE:VER) last released its earnings results on Tuesday, November 6th. The financial services provider reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.27). The business had revenue of $289.03 million for the quarter, compared to the consensus estimate of $291.19 million. Vereit had a negative net margin of 11.51% and a negative return on equity of 1.51%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.18 EPS. As a group, equities research analysts predict that Vereit Inc will post 0.72 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be paid a dividend of $0.1375 per share. The ex-dividend date is Friday, December 28th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 7.27%. Vereit’s dividend payout ratio is 78.57%.
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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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