Wall Street analysts expect that Vereit Inc (NYSE:VER) will announce sales of $303.83 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Vereit’s earnings, with the lowest sales estimate coming in at $296.99 million and the highest estimate coming in at $309.94 million. Vereit reported sales of $313.26 million in the same quarter last year, which would suggest a negative year over year growth rate of 3%. The company is expected to announce its next quarterly earnings results on Thursday, February 20th.
According to Zacks, analysts expect that Vereit will report full-year sales of $1.24 billion for the current financial year, with estimates ranging from $1.23 billion to $1.24 billion. For the next year, analysts anticipate that the business will report sales of $1.24 billion, with estimates ranging from $1.22 billion to $1.27 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Vereit.
Vereit (NYSE:VER) last issued its earnings results on Wednesday, November 6th. The financial services provider reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.93). The business had revenue of $302.99 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the company posted $0.18 earnings per share.
Shares of VER stock traded down $0.04 during trading hours on Monday, reaching $9.70. 5,141,643 shares of the company’s stock were exchanged, compared to its average volume of 7,847,736. The company has a market cap of $10.36 billion, a P/E ratio of -22.56, a price-to-earnings-growth ratio of 1.44 and a beta of 0.52. The company’s 50 day moving average is $9.33 and its two-hundred day moving average is $9.51. Vereit has a 1 year low of $7.59 and a 1 year high of $10.13. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.92 and a quick ratio of 0.92.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.138 dividend. This represents a $0.55 annualized dividend and a yield of 5.69%. The ex-dividend date of this dividend was Monday, December 30th. Vereit’s payout ratio is currently 76.39%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PGGM Investments grew its holdings in Vereit by 59.0% during the 3rd quarter. PGGM Investments now owns 38,728,733 shares of the financial services provider’s stock valued at $378,767,000 after buying an additional 14,366,122 shares during the last quarter. Resolution Capital Ltd acquired a new stake in Vereit during the 3rd quarter valued at $134,592,000. Russell Investments Group Ltd. grew its holdings in Vereit by 34.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 10,668,616 shares of the financial services provider’s stock valued at $104,122,000 after buying an additional 2,739,834 shares during the last quarter. Zimmer Partners LP acquired a new stake in Vereit during the 3rd quarter valued at $19,560,000. Finally, California Public Employees Retirement System grew its holdings in Vereit by 22.5% during the 2nd quarter. California Public Employees Retirement System now owns 7,385,338 shares of the financial services provider’s stock valued at $66,542,000 after buying an additional 1,358,229 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.
Vereit Company Profile
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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