American Century Companies Inc. lifted its position in shares of VEREIT (NYSE:VER) by 1,317.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,850,594 shares of the financial services provider’s stock after buying an additional 2,649,421 shares during the quarter. American Century Companies Inc. owned about 0.29% of VEREIT worth $19,840,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Mackay Shields LLC acquired a new stake in shares of VEREIT during the first quarter worth $3,790,000. Sheaff Brock Investment Advisors LLC boosted its stake in VEREIT by 43.5% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 27,096 shares of the financial services provider’s stock worth $189,000 after acquiring an additional 8,211 shares in the last quarter. SG Americas Securities LLC boosted its stake in VEREIT by 129.7% during the first quarter. SG Americas Securities LLC now owns 155,127 shares of the financial services provider’s stock worth $1,080,000 after acquiring an additional 87,605 shares in the last quarter. Viridian Ria LLC bought a new position in VEREIT during the first quarter worth $102,000. Finally, Westpac Banking Corp boosted its stake in VEREIT by 8.4% during the first quarter. Westpac Banking Corp now owns 933,965 shares of the financial services provider’s stock worth $6,500,000 after acquiring an additional 72,300 shares in the last quarter. Institutional investors own 89.60% of the company’s stock.
Several brokerages recently issued reports on VER. ValuEngine lowered shares of VEREIT from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Zacks Investment Research raised shares of VEREIT from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. JMP Securities cut their target price on shares of VEREIT from $9.50 to $9.00 and set a “market outperform” rating on the stock in a research note on Friday, February 23rd. Finally, Mizuho reissued a “hold” rating and set a $7.00 target price on shares of VEREIT in a research note on Friday, March 2nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. VEREIT currently has a consensus rating of “Hold” and a consensus price target of $8.42.
VEREIT (NYSE:VER) last issued its earnings results on Friday, May 4th. The financial services provider reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.17). The company had revenue of $290.60 million for the quarter, compared to the consensus estimate of $299.80 million. VEREIT had a return on equity of 0.94% and a net margin of 3.78%. The firm’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.19 earnings per share. equities research analysts predict that VEREIT will post 0.69 earnings per share for the current fiscal year.
The firm also recently disclosed 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. This represents a $0.55 dividend on an annualized basis and a dividend yield of 8.02%. The ex-dividend date is Thursday, June 28th. VEREIT’s dividend payout ratio (DPR) is 78.57%.
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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