Vereit Inc (NYSE:VER) – Equities research analysts at Capital One Financial lowered their FY2019 earnings estimates for Vereit in a report released on Tuesday, September 24th, Zacks Investment Research reports. Capital One Financial analyst C. Lucas now expects that the financial services provider will post earnings per share of $0.68 for the year, down from their previous estimate of $0.69. Capital One Financial also issued estimates for Vereit’s Q1 2020 earnings at $0.16 EPS, Q2 2020 earnings at $0.16 EPS, Q3 2020 earnings at $0.16 EPS, Q4 2020 earnings at $0.16 EPS, FY2020 earnings at $0.65 EPS and FY2021 earnings at $0.68 EPS.
Vereit (NYSE:VER) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.10. Vereit had a net margin of 24.69% and a return on equity of 4.23%. The company had revenue of $312.10 million for the quarter, compared to the consensus estimate of $314.95 million. During the same period in the prior year, the firm posted $0.18 EPS. The company’s quarterly revenue was down 1.1% compared to the same quarter last year.
A number of other brokerages also recently commented on VER. Zacks Investment Research raised shares of Vereit from a “sell” rating to a “hold” rating in a research report on Wednesday, August 14th. ValuEngine downgraded shares of Vereit from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. upped their target price on shares of Vereit from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Thursday. Stifel Nicolaus upped their target price on shares of Vereit from $9.25 to $9.50 and gave the company a “hold” rating in a report on Tuesday, September 10th. Finally, TheStreet upgraded shares of Vereit from a “c” rating to a “b-” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Vereit has an average rating of “Hold” and an average target price of $9.79.
Shares of NYSE:VER traded up $0.01 during trading hours on Friday, reaching $9.76. The stock had a trading volume of 9,521,362 shares, compared to its average volume of 20,444,674. Vereit has a 1 year low of $6.89 and a 1 year high of $10.13. The firm’s 50 day moving average is $9.72 and its 200-day moving average is $9.06. 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 stock has a market capitalization of $9.49 billion, a price-to-earnings ratio of 13.56, a P/E/G ratio of 1.38 and a beta of 0.51.
Several institutional investors have recently modified their holdings of VER. Phocas Financial Corp. acquired a new stake in Vereit during the 2nd quarter worth $25,000. Creative Financial Designs Inc. ADV boosted its stake in Vereit by 268.3% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 3,370 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 2,455 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in Vereit during the 2nd quarter worth $32,000. Whittier Trust Co. boosted its stake in Vereit by 2,228.1% during the 2nd quarter. Whittier Trust Co. now owns 9,033 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 8,645 shares during the period. Finally, Zions Bancorporation N.A. boosted its stake in 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. Institutional investors and hedge funds own 93.39% of the company’s stock.
In other news, insider Thomas W. Roberts sold 25,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $9.87, for a total value of $246,750.00. Following the completion of the transaction, the insider now owns 433,478 shares in the company, valued at approximately $4,278,427.86. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.22% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.138 dividend. This represents a $0.55 annualized dividend and a dividend yield of 5.66%. The ex-dividend date of this dividend is Friday, September 27th. Vereit’s payout ratio is 76.39%.
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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