Private Advisor Group LLC decreased its holdings in shares of Vereit Inc (NYSE:VER) by 64.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 21,049 shares of the financial services provider’s stock after selling 37,533 shares during the period. Private Advisor Group LLC’s holdings in Vereit were worth $153,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D raised its position in shares of Vereit by 61.7% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 849,000 shares of the financial services provider’s stock worth $6,316,000 after purchasing an additional 324,000 shares during the last quarter. Aperio Group LLC increased its holdings in Vereit by 7.1% in the 2nd quarter. Aperio Group LLC now owns 292,944 shares of the financial services provider’s stock worth $2,180,000 after buying an additional 19,458 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Vereit by 16.9% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 60,636 shares of the financial services provider’s stock worth $451,000 after buying an additional 8,778 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Vereit in the 2nd quarter worth about $6,287,000. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Vereit by 6.2% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,518,406 shares of the financial services provider’s stock worth $26,177,000 after buying an additional 204,183 shares in the last quarter. Institutional investors own 89.12% of the company’s stock.
Several equities research analysts recently commented on VER shares. ValuEngine downgraded Vereit from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Zacks Investment Research upgraded Vereit from a “hold” rating to a “buy” rating and set a $8.50 price objective for the company in a report on Saturday, November 10th. JPMorgan Chase & Co. lifted their price objective on Vereit from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Monday, September 17th. Mizuho set a $8.00 price objective on Vereit and gave the stock a “hold” rating in a report on Monday, August 13th. Finally, Robert W. Baird started coverage on Vereit in a report on Monday, October 22nd. They issued an “outperform” rating and a $9.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $8.70.
Vereit (NYSE:VER) last released its quarterly earnings results on Tuesday, November 6th. The financial services provider reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.27). The firm had revenue of $289.03 million for the quarter, compared to the consensus estimate of $291.19 million. Vereit had a negative net margin of 11.51% and a negative return on equity of 1.53%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 earnings per share. On average, sell-side analysts expect that Vereit Inc will post 0.72 EPS for the current year.
The company 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 dividend of $0.1375 per share. The ex-dividend date is Friday, December 28th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 7.10%. 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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