ValuEngine Downgrades Vereit (NYSE:VER) to Hold
Several other research analysts have also recently commented on the stock. Bank of America boosted their price target on shares of Armstrong World Industries from $95.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Zacks Investment Research upgraded shares of Vistra Energy from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Saturday, July 13th. Three 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 “Buy” and an average price target of $9.30.
Shares of VER stock traded down $0.17 during trading on Friday, reaching $8.82. The company’s stock had a trading volume of 9,170,182 shares, compared to its average volume of 8,822,428. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.81. The firm has a market cap of $8.73 billion, a P/E ratio of 12.25, a price-to-earnings-growth ratio of 1.16 and a beta of 0.53. The company has a 50-day simple moving average of $9.16. Vereit has a 1-year low of $6.88 and a 1-year high of $9.72.
Hedge funds have recently added to or reduced their stakes in the stock. Investors Research Corp purchased a new position in Vereit during the 1st quarter worth $25,000. Bessemer Group Inc. grew its stake in shares of Vereit by 47.8% during the 4th quarter. Bessemer Group Inc. now owns 4,174 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 1,349 shares during the period. Spirit of America Management Corp NY acquired a new position in shares of Vereit during the 1st quarter worth $42,000. Cullen Frost Bankers Inc. acquired a new position in shares of Vereit during the 1st quarter worth $50,000. Finally, Zions Bancorporation N.A. grew its stake in shares of Vereit by 39.1% during the 1st quarter. Zions Bancorporation N.A. now owns 10,378 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 2,918 shares during the period. Hedge funds and other institutional investors own 91.40% 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 total real estate investments of $15.6 billion including approximately 4,000 properties and 94.7 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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