Shares of Vereit Inc (NYSE:VER) have earned a consensus rating of “Hold” from the six research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $9.13.
VER has been the subject of several research analyst reports. ValuEngine downgraded Verso from a “hold” rating to a “sell” rating in a research note on Thursday, May 23rd. Bank of America boosted their target price on Armstrong World Industries from $95.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th.
VER stock traded down $0.04 during midday trading on Friday, reaching $9.13. The company had a trading volume of 7,930,276 shares, compared to its average volume of 10,580,552. The stock has a market capitalization of $8.93 billion, a P/E ratio of 12.68, a price-to-earnings-growth ratio of 1.01 and a beta of 0.53. The company’s 50 day simple moving average is $9.10. Vereit has a 1-year low of $6.88 and a 1-year high of $9.72. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.73 and a quick ratio of 0.73.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.138 per share. This represents a $0.55 annualized dividend and a yield of 6.05%. The ex-dividend date is Thursday, June 27th. Vereit’s payout ratio is 76.39%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bessemer Group Inc. raised its stake in Vereit by 47.8% during the fourth quarter. Bessemer Group Inc. now owns 4,174 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 1,349 shares in the last quarter. Wiley BROS. Aintree Capital LLC grew its holdings in shares of Vereit by 2.7% during the first quarter. Wiley BROS. Aintree Capital LLC now owns 53,431 shares of the financial services provider’s stock worth $447,000 after purchasing an additional 1,400 shares during the last quarter. Wetherby Asset Management Inc. grew its holdings in shares of Vereit by 7.6% during the first quarter. Wetherby Asset Management Inc. now owns 22,858 shares of the financial services provider’s stock worth $191,000 after purchasing an additional 1,614 shares during the last quarter. HRT Financial LLC grew its holdings in shares of Vereit by 10.9% during the fourth quarter. HRT Financial LLC now owns 22,769 shares of the financial services provider’s stock worth $162,000 after purchasing an additional 2,237 shares during the last quarter. Finally, Sigma Planning Corp grew its holdings in shares of Vereit by 6.6% during the first quarter. Sigma Planning Corp now owns 37,302 shares of the financial services provider’s stock worth $312,000 after purchasing an additional 2,315 shares during the last quarter. 91.38% of the stock is owned by hedge funds and other institutional investors.
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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