Metropolitan Life Insurance Co NY lessened its holdings in Vereit Inc (NYSE:VER) by 2.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 72,174 shares of the financial services provider’s stock after selling 2,168 shares during the quarter. Metropolitan Life Insurance Co NY’s holdings in Vereit were worth $706,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of VER. Nuveen Asset Management LLC lifted its holdings in Vereit by 14.5% in the second quarter. Nuveen Asset Management LLC now owns 7,254,523 shares of the financial services provider’s stock valued at $65,363,000 after buying an additional 918,279 shares during the period. Profund Advisors LLC raised its position in shares of Vereit by 18.5% during the 2nd quarter. Profund Advisors LLC now owns 65,934 shares of the financial services provider’s stock valued at $594,000 after acquiring an additional 10,315 shares during the last quarter. DNB Asset Management AS raised its position in shares of Vereit by 5.2% during the 3rd quarter. DNB Asset Management AS now owns 272,378 shares of the financial services provider’s stock valued at $2,664,000 after acquiring an additional 13,383 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Vereit by 1.6% in the 3rd quarter. Rhumbline Advisers now owns 1,056,903 shares of the financial services provider’s stock valued at $10,337,000 after purchasing an additional 16,968 shares during the period. Finally, Meeder Asset Management Inc. lifted its stake in shares of Vereit by 21.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 15,036 shares of the financial services provider’s stock valued at $136,000 after purchasing an additional 2,611 shares during the period. Institutional investors own 92.45% of the company’s stock.
Shares of VER stock opened at $9.63 on Tuesday. Vereit Inc has a 12-month low of $6.95 and a 12-month high of $10.13. The firm has a market capitalization of $10.27 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 1.32 and a beta of 0.54. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.78. The firm has a fifty day moving average of $9.67 and a 200-day moving average of $9.45.
Vereit (NYSE:VER) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported ($0.76) EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 return on equity of 4.76% and a negative net margin of 27.65%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.18 EPS. Research analysts expect that Vereit Inc will post 0.69 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.138 dividend. The ex-dividend date is Monday, December 30th. This represents a $0.55 dividend on an annualized basis and a yield of 5.73%. Vereit’s payout ratio is 76.39%.
In other Vereit news, insider Thomas W. Roberts sold 25,000 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $9.87, for a total value of $246,750.00. Following the completion of the sale, the insider now directly owns 433,478 shares in the company, valued at $4,278,427.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.22% of the stock is owned by corporate insiders.
A number of brokerages recently commented on VER. ValuEngine raised Vereit from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Morgan Stanley increased their target price on Vereit from $9.00 to $9.50 and gave the company an “equal weight” rating in a research note on Tuesday, September 17th. TheStreet cut Vereit from a “b-” rating to a “c+” rating in a report on Monday, November 11th. JPMorgan Chase & Co. raised their target price on Vereit from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, BMO Capital Markets started coverage on Vereit in a research report on Friday, October 25th. They set an “outperform” rating and a $11.00 target price for the company. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $9.94.
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.
Further Reading: Market Capitalization and Individual Investors
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