Vereit Inc (NYSE:VER) 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 transaction of $246,750.00. Following the sale, the insider now owns 433,478 shares of the company’s stock, valued at $4,278,427.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
VER traded up $0.14 on Tuesday, hitting $9.88. The company had a trading volume of 15,867,555 shares, compared to its average volume of 9,198,625. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.10 and a quick ratio of 1.10. Vereit Inc has a 52-week low of $6.88 and a 52-week high of $9.94. The stock has a fifty day simple moving average of $9.53 and a 200-day simple moving average of $8.86. The firm has a market capitalization of $9.33 billion, a P/E ratio of 13.72, a P/E/G ratio of 1.23 and a beta of 0.53.
Vereit (NYSE:VER) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.10. Vereit had a net margin of 24.69% and a return on equity of 4.23%. The business had revenue of $312.10 million during the quarter, compared to analyst estimates of $314.95 million. During the same period last year, the business posted $0.18 earnings per share. Vereit’s quarterly revenue was down 1.1% compared to the same quarter last year. Equities research analysts expect that Vereit Inc will post 0.7 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of VER. Comerica Securities Inc. purchased a new stake in Vereit in the fourth quarter worth about $137,000. Geode Capital Management LLC lifted its holdings in Vereit by 6.6% in the fourth quarter. Geode Capital Management LLC now owns 9,374,117 shares of the financial services provider’s stock worth $66,980,000 after buying an additional 581,958 shares during the period. Comerica Bank lifted its holdings in Vereit by 7.0% in the first quarter. Comerica Bank now owns 108,088 shares of the financial services provider’s stock worth $901,000 after buying an additional 7,054 shares during the period. Toronto Dominion Bank lifted its holdings in Vereit by 33.7% in the first quarter. Toronto Dominion Bank now owns 174,202 shares of the financial services provider’s stock worth $1,458,000 after buying an additional 43,907 shares during the period. Finally, MERIAN GLOBAL INVESTORS UK Ltd purchased a new stake in Vereit in the first quarter worth about $2,590,000. Institutional investors and hedge funds own 93.39% of the company’s stock.
A number of research firms have recently weighed in on VER. TheStreet upgraded shares of Vereit from a “c” rating to a “b-” rating in a report on Friday, August 9th. Morgan Stanley increased their target price on shares of Vereit from $9.00 to $9.50 and gave the stock an “equal weight” rating in a report on Tuesday. JPMorgan Chase & Co. increased their target price on shares of Vereit from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Evercore ISI set a $9.00 target price on shares of Vereit and gave the stock a “hold” rating in a report on Wednesday, August 7th. Finally, Stifel Nicolaus increased their target price on shares of Vereit from $9.25 to $9.50 and gave the stock a “hold” rating in a report on Tuesday, September 10th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $9.64.
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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