Vereit Inc. (NYSE:VER) has earned an average rating of “Buy” from the eight ratings firms that are currently covering the company. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $9.97.
Several analysts have recently weighed in on the stock. Mizuho assumed coverage on shares of Vereit in a report on Thursday, October 13th. They set a “neutral” rating and a $9.50 price objective for the company. Zacks Investment Research lowered shares of Vereit from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Finally, Capital One Financial Corp. raised shares of Vereit from an “equal weight” rating to an “overweight” rating in a report on Friday, August 5th.
Several hedge funds have recently added to or reduced their stakes in the stock. CWM LLC boosted its stake in Vereit by 1.3% in the third quarter. CWM LLC now owns 13,945 shares of the company’s stock valued at $145,000 after buying an additional 184 shares during the period. CrestPoint Capital Management LLC bought a new stake in Vereit during the third quarter valued at approximately $867,000. MSI Financial Services Inc boosted its stake in Vereit by 12.7% in the third quarter. MSI Financial Services Inc now owns 68,093 shares of the company’s stock valued at $706,000 after buying an additional 7,683 shares during the period. Nisa Investment Advisors LLC boosted its stake in Vereit by 208.3% in the third quarter. Nisa Investment Advisors LLC now owns 14,800 shares of the company’s stock valued at $153,000 after buying an additional 10,000 shares during the period. Finally, Capstone Asset Management Co. boosted its stake in Vereit by 0.6% in the third quarter. Capstone Asset Management Co. now owns 17,642 shares of the company’s stock valued at $183,000 after buying an additional 110 shares during the period. 75.59% of the stock is currently owned by institutional investors and hedge funds.
Vereit (NYSE:VER) opened at 9.63 on Thursday. The company’s market cap is $8.71 billion. Vereit has a 12-month low of $6.68 and a 12-month high of $11.09. The firm has a 50 day moving average price of $10.08 and a 200 day moving average price of $9.90.
Vereit (NYSE:VER) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.19. Vereit had a negative net margin of 19.21% and a negative return on equity of 3.36%. The firm earned $371 million during the quarter, compared to analyst estimates of $323.34 million. During the same quarter in the prior year, the business posted $0.22 earnings per share. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. On average, analysts anticipate that Vereit will post $0.77 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 17th. Stockholders of record on Friday, September 30th were paid a dividend of $0.1375 per share. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $0.55 annualized dividend and a dividend yield of 5.71%. Vereit’s dividend payout ratio (DPR) is currently -134.15%.