Vereit (VER) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Vereit (NYSE:VER) from a hold rating to a sell rating in a research note published on Saturday morning.

According to Zacks, “VEREIT, Inc. is a real estate operating company. The Company owns and manages a diversified portfolio of retail, restaurant, office and industrial real estate assets. VEREIT, Inc., formerly known as American Realty Capital Properties Inc., is based in Phoenix, United States. “

A number of other analysts also recently issued reports on VER. Stifel Nicolaus reissued a hold rating on shares of Vereit in a research report on Wednesday, November 1st. ValuEngine raised Vereit from a hold rating to a buy rating in a research report on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $9.42.

Shares of Vereit (VER) opened at $7.34 on Friday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $7,150.00, a PE ratio of -56.46 and a beta of 0.75. Vereit has a 52-week low of $7.33 and a 52-week high of $9.12.

Vereit (NYSE:VER) last issued its quarterly earnings data on Wednesday, November 8th. The financial services provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.16). Vereit had a negative return on equity of 0.61% and a negative net margin of 3.76%. analysts predict that Vereit will post 0.71 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were given a $0.138 dividend. This represents a $0.55 annualized dividend and a yield of 7.52%. The ex-dividend date of this dividend was Thursday, December 28th. Vereit’s dividend payout ratio is currently -423.08%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. WINTON GROUP Ltd acquired a new position in Vereit in the 2nd quarter valued at about $100,000. Ffcm LLC acquired a new position in Vereit in the 3rd quarter valued at about $111,000. Quantitative Systematic Strategies LLC acquired a new position in Vereit in the 3rd quarter valued at about $117,000. Institute for Wealth Management LLC. acquired a new position in Vereit in the 2nd quarter valued at about $127,000. Finally, Pacer Advisors Inc. grew its position in Vereit by 8.5% in the 2nd quarter. Pacer Advisors Inc. now owns 17,227 shares of the financial services provider’s stock valued at $140,000 after acquiring an additional 1,346 shares in the last quarter. 85.18% of the stock is owned by institutional investors.

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About Vereit

VEREIT, Inc is a full-service real estate operating company. The Company owns and manages a diversified portfolio of retail, restaurant, office and industrial real estate assets. It operates through two segments: real estate investment (REI) segment and its investment management segment, Cole Capital.

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