TheStreet upgraded shares of Vereit (NYSE:VER) from a c rating to a b- rating in a report issued on Friday morning, TheStreetRatingsTable reports.
A number of other research analysts have also commented on VER. ValuEngine lowered Vereit from a buy rating to a hold rating in a research note on Friday, July 19th. Bank of America upgraded Vereit from an underperform rating to a buy rating and upped their target price for the company from $8.00 to $10.50 in a research note on Tuesday, June 11th. Morgan Stanley assumed coverage on Vereit in a research note on Monday, August 5th. They issued an equal weight rating and a $9.00 target price for the company. Evercore ISI set a $9.00 target price on Vereit and gave the company a hold rating in a research note on Wednesday, August 7th. Finally, Zacks Investment Research upgraded Vereit from a sell rating to a hold rating in a research note on Thursday, August 8th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Vereit presently has an average rating of Hold and a consensus price target of $9.21.
Shares of VER stock opened at $9.56 on Friday. Vereit has a 12 month low of $6.88 and a 12 month high of $9.77. The firm has a market capitalization of $9.45 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 1.23 and a beta of 0.55. The stock’s 50 day simple moving average is $9.16. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.75.
Vereit (NYSE:VER) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.10. Vereit had a return on equity of 4.23% and a net margin of 24.69%. The company had revenue of $312.10 million during the quarter, compared to analyst estimates of $314.95 million. During the same period in the previous year, the company earned $0.18 earnings per share. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities analysts expect that Vereit will post 0.69 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.138 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.77%. Vereit’s payout ratio is 76.39%.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Investors Research Corp bought a new stake in Vereit in the first quarter valued at $25,000. Creative Financial Designs Inc. ADV grew its position in Vereit by 268.3% in the second quarter. Creative Financial Designs Inc. ADV now owns 3,370 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 2,455 shares during the period. Spirit of America Management Corp NY bought a new stake in Vereit in the first quarter valued at $42,000. Cullen Frost Bankers Inc. bought a new stake in Vereit in the first quarter valued at $50,000. Finally, Whittier Trust Co. grew its position in Vereit by 2,228.1% in the second quarter. Whittier Trust Co. now owns 9,033 shares of the financial services provider’s stock valued at $81,000 after acquiring an additional 8,645 shares during the period. Institutional investors and hedge funds own 91.76% 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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