Westpac Banking Corp lowered its position in shares of Vereit Inc. (NYSE:VER) by 94.3% during the second quarter, Holdings Channel reports. The fund owned 43,550 shares of the company’s stock after selling 722,569 shares during the period. Westpac Banking Corp’s holdings in Vereit were worth $442,000 as of its most recent filing with the SEC.
A number of other large investors have also recently added to or reduced their stakes in VER. State Street Corp raised its stake in Vereit by 1.1% in the first quarter. State Street Corp now owns 21,399,450 shares of the company’s stock worth $189,813,000 after buying an additional 238,808 shares during the last quarter. Kempen Capital Management N.V. raised its stake in Vereit by 19.2% in the first quarter. Kempen Capital Management N.V. now owns 138,376 shares of the company’s stock worth $1,227,000 after buying an additional 22,305 shares during the last quarter. Cypress Capital Management LLC raised its stake in Vereit by 7.5% in the first quarter. Cypress Capital Management LLC now owns 792,675 shares of the company’s stock worth $7,031,000 after buying an additional 55,425 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Vereit by 2.0% in the first quarter. Canada Pension Plan Investment Board now owns 2,212,200 shares of the company’s stock worth $19,622,000 after buying an additional 42,900 shares during the last quarter. Finally, Credit Agricole S A raised its stake in Vereit by 1.1% in the first quarter. Credit Agricole S A now owns 619,190 shares of the company’s stock worth $5,493,000 after buying an additional 6,831 shares during the last quarter. 75.58% of the stock is owned by institutional investors and hedge funds.
Shares of Vereit Inc. (NYSE:VER) traded up 1.302% on Friday, reaching $9.725. 601,722 shares of the company traded hands. The firm’s 50 day moving average is $10.24 and its 200 day moving average is $9.85. The company’s market capitalization is $8.79 billion. Vereit Inc. has a one year low of $6.68 and a one year high of $11.09.
Vereit (NYSE:VER) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.19 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.19. Vereit had a negative return on equity of 3.36% and a negative net margin of 19.21%. The firm had revenue of $371 million for the quarter, compared to analyst estimates of $323.34 million. During the same period last year, the firm posted $0.22 earnings per share. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. Analysts expect that Vereit Inc. will post $0.77 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.1375 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.73%. The ex-dividend date is Wednesday, September 28th. Vereit’s payout ratio is -134.15%.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Vereit from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. Capital One Financial Corp. upgraded shares of Vereit from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 5th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $11.00 price objective on shares of Vereit in a research note on Thursday, June 16th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $10.06.
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