Vereit (NYSE:VER) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday, Zacks.com reports.

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. “

Several other brokerages also recently issued reports on VER. BofA Securities upgraded shares of Vereit from a “neutral” rating to a “buy” rating in a research report on Monday, August 24th. Bank of America upgraded shares of Vereit from a “neutral” rating to a “buy” rating in a research report on Monday, August 24th. BMO Capital Markets reaffirmed a “buy” rating and issued a $8.00 target price on shares of Vereit in a research note on Thursday, August 6th. Berenberg Bank began coverage on shares of Vereit in a research note on Friday, July 10th. They set a “hold” rating and a $6.75 price target for the company. Finally, Morgan Stanley raised their price objective on shares of Vereit from $5.80 to $6.25 and gave the company an “equal weight” rating in a research note on Friday, August 21st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. Vereit presently has an average rating of “Hold” and an average price target of $8.25.

NYSE VER traded up $0.14 on Wednesday, hitting $7.23. 287,167 shares of the company were exchanged, compared to its average volume of 13,109,150. The firm has a 50 day moving average of $6.73 and a two-hundred day moving average of $6.15. The company has a market cap of $7.64 billion, a P/E ratio of -12.05 and a beta of 1.02. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.89. Vereit has a 1-year low of $3.56 and a 1-year high of $10.18.

Vereit (NYSE:VER) last issued its quarterly earnings results on Thursday, August 6th. The financial services provider reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.11). The company had revenue of $278.60 million for the quarter, compared to analyst estimates of $278.29 million. Vereit had a negative return on equity of 7.49% and a negative net margin of 43.35%. The firm’s quarterly revenue was down 10.7% on a year-over-year basis. During the same quarter last year, the company earned $0.18 EPS. Research analysts anticipate that Vereit will post 0.61 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the business. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Vereit during the second quarter worth about $848,000. Two Sigma Securities LLC bought a new position in Vereit in the second quarter valued at approximately $266,000. PNC Financial Services Group Inc. increased its position in shares of Vereit by 77.1% during the second quarter. PNC Financial Services Group Inc. now owns 64,337 shares of the financial services provider’s stock worth $414,000 after acquiring an additional 28,018 shares in the last quarter. Handelsbanken Fonder AB acquired a new stake in shares of Vereit in the 2nd quarter valued at about $1,118,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Vereit by 83.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 10,063,607 shares of the financial services provider’s stock worth $64,709,000 after purchasing an additional 4,562,960 shares during the last quarter. Institutional investors own 94.51% of the company’s stock.

About Vereit

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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