Hsbc Holdings PLC lifted its holdings in shares of Vereit Inc (NYSE:VER) by 96.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,403,236 shares of the financial services provider’s stock after purchasing an additional 1,176,941 shares during the quarter. Hsbc Holdings PLC’s holdings in Vereit were worth $17,448,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Vereit by 1.9% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 377,291 shares of the financial services provider’s stock worth $2,739,000 after buying an additional 6,928 shares during the period. Nissay Asset Management Corp Japan ADV increased its stake in shares of Vereit by 5.3% during the third quarter. Nissay Asset Management Corp Japan ADV now owns 154,228 shares of the financial services provider’s stock worth $1,120,000 after buying an additional 7,770 shares during the period. Toronto Dominion Bank increased its stake in shares of Vereit by 8.3% during the third quarter. Toronto Dominion Bank now owns 105,186 shares of the financial services provider’s stock worth $763,000 after buying an additional 8,084 shares during the period. Kovack Advisors Inc. increased its stake in shares of Vereit by 54.8% during the third quarter. Kovack Advisors Inc. now owns 23,274 shares of the financial services provider’s stock worth $169,000 after buying an additional 8,235 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Vereit by 0.5% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,872,900 shares of the financial services provider’s stock worth $13,934,000 after buying an additional 8,400 shares during the period. 87.31% of the stock is currently owned by institutional investors and hedge funds.
VER has been the topic of a number of recent research reports. ValuEngine lowered shares of Vereit from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Zacks Investment Research upgraded shares of Vereit from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a research note on Saturday, November 10th. JPMorgan Chase & Co. upped their target price on shares of Vereit from $8.00 to $9.00 and gave the stock an “overweight” rating in a research note on Monday, September 17th. Mizuho set a $8.00 target price on shares of Vereit and gave the stock a “hold” rating in a research note on Monday, August 13th. Finally, Robert W. Baird initiated coverage on shares of Vereit in a research note on Monday, October 22nd. They set an “outperform” rating and a $9.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $8.70.
Vereit (NYSE:VER) last announced its quarterly earnings results on Tuesday, November 6th. The financial services provider reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.27). The company had revenue of $289.03 million during the quarter, compared to analysts’ expectations of $291.19 million. Vereit had a negative net margin of 11.51% and a negative return on equity of 1.53%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 earnings per share. Analysts anticipate that Vereit Inc will post 0.72 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be paid a $0.1375 dividend. The ex-dividend date of this dividend is Friday, December 28th. This represents a $0.55 annualized dividend and a yield of 7.19%. Vereit’s dividend payout ratio is currently 78.57%.
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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 a total asset book value of $14.3 billion including approximately 4,000 properties and 94.6 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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