DNB Asset Management AS Acquires 152,098 Shares of Vereit Inc (VER)
DNB Asset Management AS lifted its holdings in Vereit Inc (NYSE:VER) by 128.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 270,347 shares of the financial services provider’s stock after buying an additional 152,098 shares during the quarter. DNB Asset Management AS’s holdings in Vereit were worth $2,263,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Essex Savings Bank acquired a new position in Vereit during the 4th quarter valued at about $29,000. Bessemer Group Inc. increased its stake in Vereit by 47.8% during the 4th 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 Vereit by 801.3% during the 4th 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 position in Vereit during the 4th quarter valued at about $75,000. Finally, Quadrant Capital Group LLC increased its stake in Vereit by 26.1% during the 4th 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. Institutional investors own 93.02% of the company’s stock.
Several equities analysts have commented on the stock. Zacks Investment Research raised shares of Vereit from a “sell” rating to a “hold” rating in a research note on Friday, February 15th. Robert W. Baird cut shares of Vereit from an “outperform” rating to a “neutral” rating and set a $9.00 target price on the stock. in a research note on Monday, February 25th. Finally, ValuEngine raised shares of Vereit from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $8.63.
Vereit (NYSE:VER) last announced its quarterly earnings data on Thursday, February 21st. The financial services provider reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.16). The business had revenue of $313.26 million during the quarter, compared to analyst estimates of $288.89 million. Vereit had a negative return on equity of 1.18% and a negative net margin of 6.82%. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.18 EPS. As a group, research analysts forecast that Vereit Inc will post 0.69 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a $0.138 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.55 annualized dividend and a dividend yield of 6.79%. This is a boost from Vereit’s previous quarterly dividend of $0.14. Vereit’s payout ratio is currently 76.39%.
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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 $14.0 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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