Kalos Management Inc. trimmed its position in shares of VEREIT Inc. (NYSE:VER) by 2.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 355,078 shares of the financial services provider’s stock after selling 10,216 shares during the quarter. VEREIT accounts for approximately 2.6% of Kalos Management Inc.’s investment portfolio, making the stock its 6th biggest position. Kalos Management Inc.’s holdings in VEREIT were worth $2,890,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in VEREIT by 1.4% during the 2nd quarter. BlackRock Inc. now owns 77,878,258 shares of the financial services provider’s stock valued at $633,927,000 after acquiring an additional 1,087,580 shares during the period. Cbre Clarion Securities LLC boosted its holdings in VEREIT by 5.4% during the 2nd quarter. Cbre Clarion Securities LLC now owns 38,947,554 shares of the financial services provider’s stock valued at $317,033,000 after acquiring an additional 2,004,074 shares during the period. CI Investments Inc. boosted its holdings in VEREIT by 0.9% during the 2nd quarter. CI Investments Inc. now owns 24,529,315 shares of the financial services provider’s stock valued at $199,669,000 after acquiring an additional 220,300 shares during the period. Glenview Capital Management LLC boosted its holdings in VEREIT by 5.9% during the 2nd quarter. Glenview Capital Management LLC now owns 17,946,243 shares of the financial services provider’s stock valued at $146,082,000 after acquiring an additional 1,000,000 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in VEREIT by 5.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,566,316 shares of the financial services provider’s stock valued at $110,432,000 after acquiring an additional 698,170 shares during the period. Institutional investors own 85.99% of the company’s stock.
A number of brokerages recently commented on VER. Zacks Investment Research cut VEREIT from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. ValuEngine upgraded VEREIT from a “hold” rating to a “buy” rating in a report on Friday, October 6th. Finally, BidaskClub upgraded VEREIT from a “sell” rating to a “hold” rating in a report on Sunday, July 16th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $9.80.
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Shares of VEREIT Inc. (NYSE VER) traded down 0.658% during trading on Wednesday, reaching $8.305. The company had a trading volume of 3,760,529 shares. The firm’s market capitalization is $8.09 billion. The firm has a 50-day moving average of $8.49 and a 200 day moving average of $8.36. VEREIT Inc. has a 52 week low of $7.44 and a 52 week high of $9.81.
VEREIT (NYSE:VER) last announced its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.16). The firm had revenue of $336.90 million for the quarter, compared to analyst estimates of $296.02 million. VEREIT had a negative return on equity of 0.44% and a negative net margin of 2.72%. The business’s revenue was down 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 earnings per share. On average, equities research analysts forecast that VEREIT Inc. will post ($1.70) earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.138 per share. The ex-dividend date of this dividend is Thursday, September 28th. This is a positive change from VEREIT’s previous quarterly dividend of $0.14. This represents a $0.55 annualized dividend and a yield of 6.60%. VEREIT’s dividend payout ratio is currently -499.95%.
VEREIT Company Profile
VEREIT, Inc is a full-service real estate operating company. The Company operates through two business segments: real estate investment (REI) segment and investment management segment, Cole Capital. As of December 31, 2016, through its REI segment, the Company owned and managed a portfolio of 4,142 retail, restaurant, office and industrial real estate properties with an aggregate of 93.3 million square feet, which are located in 49 states, Puerto Rico and Canada.
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