Cambridge Investment Research Advisors Inc. decreased its position in shares of Vereit Inc (NYSE:VER) by 33.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 646,600 shares of the financial services provider’s stock after selling 324,243 shares during the period. Cambridge Investment Research Advisors Inc. owned about 0.07% of Vereit worth $4,500,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of VER. Centersquare Investment Management LLC acquired a new stake in shares of Vereit during the first quarter worth approximately $120,528,000. Long Pond Capital LP increased its holdings in shares of Vereit by 538.8% in the fourth quarter. Long Pond Capital LP now owns 17,691,863 shares of the financial services provider’s stock valued at $137,820,000 after purchasing an additional 14,922,313 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its holdings in shares of Vereit by 44.9% in the first quarter. Thompson Siegel & Walmsley LLC now owns 24,414,176 shares of the financial services provider’s stock valued at $169,923,000 after purchasing an additional 7,567,252 shares in the last quarter. Sasco Capital Inc. CT acquired a new stake in shares of Vereit in the fourth quarter valued at approximately $27,956,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Vereit in the fourth quarter valued at approximately $22,159,000. 85.76% of the stock is owned by institutional investors.
Shares of NYSE VER traded down $0.02 during midday trading on Thursday, reaching $7.24. 8,699,800 shares of the stock were exchanged, compared to its average volume of 8,852,873. The stock has a market cap of $6.97 billion, a price-to-earnings ratio of 10.34 and a beta of 0.57. Vereit Inc has a 12 month low of $6.52 and a 12 month high of $8.75. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.64.
Vereit (NYSE:VER) last announced its quarterly earnings results on Friday, May 4th. The financial services provider reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.17). Vereit had a return on equity of 0.94% and a net margin of 3.78%. The firm had revenue of $290.60 million for the quarter, compared to the consensus estimate of $299.80 million. During the same period in the prior year, the business earned $0.19 earnings per share. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. research analysts anticipate that Vereit Inc will post 0.7 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Friday, June 29th will be paid a $0.138 dividend. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $0.55 annualized dividend and a yield of 7.62%. Vereit’s payout ratio is currently 78.57%.
VER has been the subject of a number of research reports. JMP Securities lowered their price target on shares of Vereit from $9.50 to $9.00 and set a “market outperform” rating for the company in a report on Friday, February 23rd. Mizuho reaffirmed a “hold” rating and set a $7.00 target price on shares of Vereit in a report on Friday, March 2nd. ValuEngine lowered shares of Vereit from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Zacks Investment Research lowered shares of Vereit from a “hold” rating to a “sell” rating in a report on Thursday, May 24th. Finally, Evercore ISI reaffirmed an “in-line” rating on shares of Vereit in a report on Friday, June 1st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Vereit has a consensus rating of “Hold” and a consensus target price of $8.42.
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 $14.7 billion including approximately 4,100 properties and 94.4 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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