Brokerages expect Vereit Inc (NYSE:VER) to announce earnings per share (EPS) of $0.17 for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Vereit’s earnings, with the lowest EPS estimate coming in at $0.15 and the highest estimate coming in at $0.18. Vereit reported earnings per share of $0.18 in the same quarter last year, which suggests a negative year over year growth rate of 5.6%. The business is expected to announce its next earnings report on Tuesday, November 5th.
On average, analysts expect that Vereit will report full-year earnings of $0.70 per share for the current fiscal year, with EPS estimates ranging from $0.68 to $0.72. For the next fiscal year, analysts expect that the firm will post earnings of $0.69 per share, with EPS estimates ranging from $0.67 to $0.70. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Vereit.
Vereit (NYSE:VER) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.10. Vereit had a return on equity of 4.23% and a net margin of 24.69%. The firm had revenue of $312.10 million for the quarter, compared to analysts’ expectations of $314.95 million. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.18 earnings per share.
VER has been the topic of several recent research reports. Bank of America upgraded shares of Vereit from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $8.00 to $10.50 in a research report on Tuesday, June 11th. Zacks Investment Research upgraded shares of Vereit from a “sell” rating to a “hold” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. lifted their price target on shares of Vereit from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. TheStreet upgraded shares of Vereit from a “c” rating to a “b-” rating in a research report on Friday, August 9th. Finally, ValuEngine lowered shares of Vereit from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $9.58.
A number of hedge funds and other institutional investors have recently bought and sold shares of VER. Phocas Financial Corp. acquired a new stake in shares of Vereit during the 2nd quarter valued at $2,468,000. Creative Financial Designs Inc. ADV lifted its stake in shares of Vereit by 268.3% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 3,370 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 2,455 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Vereit in the 2nd quarter valued at $32,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Vereit in the 1st quarter valued at $50,000. Finally, Whittier Trust Co. lifted its stake in shares of Vereit by 2,228.1% in the 2nd quarter. Whittier Trust Co. now owns 9,033 shares of the financial services provider’s stock valued at $81,000 after purchasing an additional 8,645 shares during the last quarter. Hedge funds and other institutional investors own 89.68% of the company’s stock.
Vereit stock opened at $9.66 on Tuesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $9.55 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 1.26 and a beta of 0.53. Vereit has a 1 year low of $6.88 and a 1 year high of $9.94. The firm’s 50 day moving average price is $9.40 and its two-hundred day moving average price is $8.78.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.138 per share. This represents a $0.55 annualized dividend and a yield of 5.71%. The ex-dividend date of this dividend is Friday, September 27th. Vereit’s payout ratio is 76.39%.
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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