Vereit Inc (NYSE:VER) was the recipient of a large drop in short interest during the month of June. As of June 30th, there was short interest totalling 31,657,600 shares, a drop of 17.7% from the May 30th total of 38,468,300 shares. Currently, 3.3% of the company’s shares are short sold. Based on an average trading volume of 9,350,000 shares, the short-interest ratio is presently 3.4 days.
Shares of NYSE:VER opened at $9.13 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.81. Vereit has a 12 month low of $6.88 and a 12 month high of $9.72. The firm has a 50-day simple moving average of $9.10. The company has a market cap of $8.89 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 1.01 and a beta of 0.53.
Vereit (NYSE:VER) last announced its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The business had revenue of $316.84 million during the quarter, compared to the consensus estimate of $307.92 million. Vereit had a negative net margin of 3.83% and a negative return on equity of 0.65%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 earnings per share. As a group, equities research analysts predict that Vereit will post 0.69 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.138 dividend. This represents a $0.55 annualized dividend and a yield of 6.05%. The ex-dividend date of this dividend is Thursday, June 27th. Vereit’s payout ratio is currently 76.39%.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Investors Research Corp bought a new stake in Vereit in the first quarter worth about $25,000. Bessemer Group Inc. lifted its stake in Vereit by 47.8% in the fourth 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 last quarter. Spirit of America Management Corp NY bought a new stake in Vereit in the first quarter worth about $42,000. Cullen Frost Bankers Inc. bought a new stake in Vereit in the first quarter worth about $50,000. Finally, Zions Bancorporation N.A. lifted its stake in Vereit by 39.1% in the first 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 last quarter. 91.38% of the stock is owned by institutional investors and hedge funds.
VER has been the subject of a number of analyst reports. ValuEngine downgraded shares of Verso from a “hold” rating to a “sell” rating in a report on Thursday, May 23rd. Zacks Investment Research raised 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. Finally, Bank of America increased their price target on shares of Armstrong World Industries from $95.00 to $108.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $9.30.
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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