Vereit (VER) Downgraded by Zacks Investment Research
Vereit (NYSE:VER) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “VEREIT, Inc. is a real estate operating company. The Company owns and manages a diversified portfolio of retail, restaurant, office and industrial real estate assets. VEREIT, Inc., formerly known as American Realty Capital Properties Inc., is based in Phoenix, United States. “
Other research analysts also recently issued research reports about the stock. ValuEngine raised shares of Vereit from a “sell” rating to a “hold” rating in a research report on Saturday, August 18th. Robert W. Baird began coverage on shares of Vereit in a research report on Monday, October 22nd. They issued an “outperform” rating and a $9.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on shares of Vereit from $8.00 to $9.00 and gave the company an “overweight” rating in a research report on Monday, September 17th. Finally, Mizuho set a $8.00 price objective on shares of Vereit and gave the company a “hold” rating in a research report on Monday, August 13th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $8.70.
Vereit (NYSE:VER) last released its earnings results on Tuesday, November 6th. The financial services provider reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.27). The business had revenue of $289.03 million during 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 1.53%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the business posted $0.18 EPS. On average, research analysts anticipate that Vereit will post 0.72 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of VER. Verition Fund Management LLC acquired a new stake in shares of Vereit during the 3rd quarter worth about $114,000. Capital Investment Advisory Services LLC acquired a new stake in shares of Vereit during the 3rd quarter worth about $127,000. Qube Research & Technologies Ltd acquired a new stake in shares of Vereit during the 2nd quarter worth about $130,000. HRT Financial LLC acquired a new stake in shares of Vereit during the 3rd quarter worth about $149,000. Finally, Lourd Capital LLC acquired a new stake in shares of Vereit during the 3rd quarter worth about $161,000. Institutional investors own 87.31% of the company’s stock.
Vereit Company Profile
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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