VEREIT Inc. (NYSE:VER) – Equities researchers at Capital One Financial Corporation decreased their FY2018 earnings per share (EPS) estimates for shares of VEREIT in a note issued to investors on Thursday. Capital One Financial Corporation analyst C. Lucas now anticipates that the financial services provider will earn $0.75 per share for the year, down from their previous estimate of $0.77.
Several other research firms have also recently issued reports on VER. Zacks Investment Research cut shares of VEREIT from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. ValuEngine upgraded shares of VEREIT from a “hold” rating to a “buy” rating in a research report on Friday. Finally, BidaskClub upgraded shares of VEREIT from a “sell” rating to a “hold” rating in a research report on Sunday, July 16th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $9.80.
Shares of VEREIT (VER) traded up 0.48% on Monday, reaching $8.39. 4,624,664 shares of the company’s stock traded hands. VEREIT has a one year low of $7.44 and a one year high of $9.81. The firm’s market cap is $8.17 billion. The company’s 50-day moving average price is $8.50 and its 200 day moving average price is $8.36.
VEREIT (NYSE:VER) last announced its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.02 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.16). VEREIT had a negative net margin of 2.72% and a negative return on equity of 0.44%. The firm had revenue of $336.90 million for the quarter, compared to analyst estimates of $296.02 million. During the same quarter in the prior year, the firm earned $0.19 earnings per share. The firm’s revenue for the quarter was down 9.2% on a year-over-year basis.
A number of large investors have recently modified their holdings of VER. Dynamic Advisors Solutions LLC grew its holdings in VEREIT by 0.9% in the 2nd quarter. Dynamic Advisors Solutions LLC now owns 14,574 shares of the financial services provider’s stock worth $119,000 after acquiring an additional 127 shares during the last quarter. World Asset Management Inc grew its holdings in VEREIT by 0.4% in the 2nd quarter. World Asset Management Inc now owns 49,401 shares of the financial services provider’s stock worth $402,000 after acquiring an additional 196 shares during the last quarter. Pacer Advisors Inc. grew its holdings in VEREIT by 3.4% in the 1st quarter. Pacer Advisors Inc. now owns 15,881 shares of the financial services provider’s stock worth $135,000 after acquiring an additional 529 shares during the last quarter. IFP Advisors Inc grew its holdings in VEREIT by 0.4% in the 2nd quarter. IFP Advisors Inc now owns 167,829 shares of the financial services provider’s stock worth $1,366,000 after acquiring an additional 657 shares during the last quarter. Finally, NEXT Financial Group Inc grew its holdings in VEREIT by 5.7% in the 2nd quarter. NEXT Financial Group Inc now owns 18,550 shares of the financial services provider’s stock worth $151,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors own 85.99% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given a $0.138 dividend. This represents a $0.55 dividend on an annualized basis and a yield of 6.61%. The ex-dividend date is Thursday, September 28th. This is a boost from VEREIT’s previous quarterly dividend of $0.14. VEREIT’s dividend payout ratio (DPR) is presently -499.95%.
VEREIT Company Profile
VEREIT, Inc is a full-service real estate operating company. The Company operates through two business segments: real estate investment (REI) segment and investment management segment, Cole Capital. As of December 31, 2016, through its REI segment, the Company owned and managed a portfolio of 4,142 retail, restaurant, office and industrial real estate properties with an aggregate of 93.3 million square feet, which are located in 49 states, Puerto Rico and Canada.
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