Pensionfund Sabic Sells 3,000 Shares of Vereit Inc (VER)
Pensionfund Sabic decreased its stake in Vereit Inc (NYSE:VER) by 2.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 150,000 shares of the financial services provider’s stock after selling 3,000 shares during the period. Pensionfund Sabic’s holdings in Vereit were worth $1,256,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Essex Savings Bank acquired a new stake in shares of Vereit in the fourth quarter valued at about $29,000. Bessemer Group Inc. increased its stake in shares of Vereit by 47.8% in the fourth quarter. Bessemer Group Inc. now owns 4,174 shares of the financial services provider’s stock valued at $30,000 after buying an additional 1,349 shares during the period. Rehmann Capital Advisory Group increased its stake in shares of Vereit by 801.3% in the fourth quarter. Rehmann Capital Advisory Group now owns 4,930 shares of the financial services provider’s stock valued at $35,000 after buying an additional 4,383 shares during the period. Howard Financial Services LTD. acquired a new stake in shares of Vereit in the fourth quarter valued at about $75,000. Finally, Quadrant Capital Group LLC increased its stake in shares of Vereit by 26.1% in the fourth quarter. Quadrant Capital Group LLC now owns 12,026 shares of the financial services provider’s stock valued at $82,000 after buying an additional 2,490 shares during the period. 92.99% of the stock is owned by institutional investors.
VER has been the subject of several recent analyst reports. Zacks Investment Research raised Vereit from a “sell” rating to a “hold” rating in a research note on Saturday, February 9th. ValuEngine cut Vereit from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Finally, Robert W. Baird cut Vereit from an “outperform” rating to a “neutral” rating and set a $9.00 target price for the company. in a research note on Monday, February 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $8.63.
Vereit (NYSE:VER) last announced its quarterly earnings results on Thursday, February 21st. The financial services provider reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.16). The firm had revenue of $313.26 million during the quarter, compared to the consensus estimate of $288.89 million. Vereit had a negative return on equity of 1.18% and a negative net margin of 6.82%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.18 EPS. Equities research analysts anticipate that Vereit Inc will post 0.69 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be issued a $0.138 dividend. The ex-dividend date is Thursday, March 28th. This represents a $0.55 annualized dividend and a yield of 6.59%. This is a positive change from Vereit’s previous quarterly dividend of $0.14. Vereit’s dividend payout ratio is presently 76.39%.
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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 $14.0 billion including approximately 4,000 properties and 95.0 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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