Hoover Financial Advisors Inc. bought a new stake in Vereit Inc (NYSE:VER) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 28,333 shares of the financial services provider’s stock, valued at approximately $262,000.
Several other institutional investors have also recently modified their holdings of the company. Phocas Financial Corp. bought a new position in shares of Vereit in the 2nd quarter valued at $25,000. FinTrust Capital Advisors LLC acquired a new stake in shares of Vereit in the 4th quarter valued at approximately $31,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Vereit during the 2nd quarter valued at approximately $32,000. Huntington National Bank grew its holdings in shares of Vereit by 53.3% during the 3rd quarter. Huntington National Bank now owns 3,511 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 1,220 shares during the last quarter. Finally, Resources Management Corp CT ADV acquired a new position in shares of Vereit during the third quarter worth $40,000. 89.03% of the stock is owned by institutional investors.
VER has been the subject of a number of research reports. BMO Capital Markets started coverage on shares of Vereit in a report on Friday, October 25th. They issued an “outperform” rating and a $11.00 price objective for the company. ValuEngine lowered shares of Vereit from a “hold” rating to a “sell” rating in a report on Friday, January 24th. JPMorgan Chase & Co. increased their price target on Vereit from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. TheStreet downgraded Vereit from a “b-” rating to a “c+” rating in a report on Monday, November 11th. Finally, Zacks Investment Research raised Vereit from a “sell” rating to a “hold” rating in a research report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $9.94.
Vereit (NYSE:VER) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.93). The business had revenue of $302.99 million for the quarter, compared to analyst estimates of $306.69 million. Vereit had a negative net margin of 27.65% and a negative return on equity of 4.76%. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.18 earnings per share. Equities research analysts anticipate that Vereit Inc will post 0.69 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.138 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.64%. The ex-dividend date of this dividend was Monday, December 30th. Vereit’s payout ratio is 76.39%.
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 total real estate investments of $15.6 billion including approximately 4,000 properties and 94.7 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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