Canada Pension Plan Investment Board raised its stake in VEREIT Inc. (NYSE:VER) by 38.3% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 4,057,781 shares of the financial services provider’s stock after buying an additional 1,123,970 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.42% of VEREIT worth $33,639,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Fosun International Ltd bought a new stake in VEREIT in the second quarter valued at $15,622,000. Glenview Capital Management LLC lifted its stake in VEREIT by 5.9% in the second quarter. Glenview Capital Management LLC now owns 17,946,243 shares of the financial services provider’s stock valued at $146,082,000 after buying an additional 1,000,000 shares during the last quarter. Cedar Capital LLC bought a new stake in VEREIT in the second quarter valued at $2,434,000. Stanley Laman Group Ltd. lifted its stake in VEREIT by 0.4% in the second quarter. Stanley Laman Group Ltd. now owns 294,335 shares of the financial services provider’s stock valued at $2,396,000 after buying an additional 1,094 shares during the last quarter. Finally, Amalgamated Bank lifted its stake in VEREIT by 80.4% in the second quarter. Amalgamated Bank now owns 94,915 shares of the financial services provider’s stock valued at $773,000 after buying an additional 42,301 shares during the last quarter. Institutional investors own 85.03% of the company’s stock.
VEREIT Inc. (NYSE VER) opened at $7.92 on Monday. The company has a market capitalization of $7,716.05, a price-to-earnings ratio of 10.70 and a beta of 0.74. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.61. VEREIT Inc. has a fifty-two week low of $7.44 and a fifty-two week high of $9.17.
VEREIT (NYSE:VER) last issued its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.16). The business had revenue of $336.90 million for the quarter, compared to analyst estimates of $296.02 million. VEREIT had a negative net margin of 2.72% and a negative return on equity of 0.44%. VEREIT’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same period last year, the business posted $0.19 earnings per share. sell-side analysts predict that VEREIT Inc. will post 0.7 EPS for the current fiscal year.
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A number of research firms have issued reports on VER. Zacks Investment Research cut VEREIT from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. ValuEngine upgraded VEREIT from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. BidaskClub upgraded VEREIT from a “sell” rating to a “hold” rating in a research note on Sunday, July 16th. Finally, Stifel Nicolaus reiterated a “hold” rating on shares of VEREIT in a research note on Wednesday, November 1st. Three analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $9.88.
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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