Marshall Wace LLP Takes Position in Vereit Inc (VER)

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Marshall Wace LLP acquired a new stake in Vereit Inc (NYSE:VER) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 1,009,453 shares of the financial services provider’s stock, valued at approximately $7,510,000. Marshall Wace LLP owned about 0.10% of Vereit as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. PGGM Investments raised its holdings in shares of Vereit by 133.3% during the second quarter. PGGM Investments now owns 21,502,611 shares of the financial services provider’s stock valued at $159,979,000 after acquiring an additional 12,287,014 shares in the last quarter. Centersquare Investment Management LLC raised its holdings in shares of Vereit by 21.4% during the second quarter. Centersquare Investment Management LLC now owns 21,014,573 shares of the financial services provider’s stock valued at $156,348,000 after acquiring an additional 3,697,262 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Vereit by 27.6% during the first quarter. JPMorgan Chase & Co. now owns 15,921,570 shares of the financial services provider’s stock valued at $110,814,000 after acquiring an additional 3,447,752 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Vereit by 3.8% during the second quarter. BlackRock Inc. now owns 85,065,999 shares of the financial services provider’s stock valued at $632,890,000 after acquiring an additional 3,090,710 shares in the last quarter. Finally, LSV Asset Management raised its holdings in shares of Vereit by 15.5% during the second quarter. LSV Asset Management now owns 22,913,053 shares of the financial services provider’s stock valued at $170,473,000 after acquiring an additional 3,077,953 shares in the last quarter. Hedge funds and other institutional investors own 87.55% of the company’s stock.

A number of brokerages recently commented on VER. Mizuho set a $8.00 target price on Vereit and gave the company a “hold” rating in a report on Monday, August 13th. Zacks Investment Research downgraded Vereit from a “hold” rating to a “sell” rating in a report on Thursday, May 24th. ValuEngine upgraded Vereit from a “sell” rating to a “hold” rating in a report on Saturday, August 18th. Finally, Evercore ISI restated an “in-line” rating on shares of Vereit in a report on Friday, June 1st. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Vereit currently has a consensus rating of “Hold” and a consensus price target of $8.75.

In related news, SVP Gavin Brandon sold 20,877 shares of the company’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $7.68, for a total value of $160,335.36. Following the sale, the senior vice president now directly owns 35,462 shares of the company’s stock, valued at $272,348.16. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.09% of the stock is owned by corporate insiders.

Shares of Vereit stock opened at $7.61 on Friday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.66. The company has a market cap of $7.36 billion, a P/E ratio of 10.45, a price-to-earnings-growth ratio of 3.30 and a beta of 0.62. Vereit Inc has a 52 week low of $6.52 and a 52 week high of $8.71.

Vereit (NYSE:VER) last issued its quarterly earnings results on Friday, August 3rd. The financial services provider reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.27). The firm had revenue of $315.60 million during the quarter, compared to analysts’ expectations of $297.35 million. Vereit had a negative return on equity of 0.40% and a negative net margin of 4.44%. Vereit’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 earnings per share. equities analysts predict that Vereit Inc will post 0.69 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be paid a $0.1375 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.55 annualized dividend and a yield of 7.23%. Vereit’s payout ratio is 78.57%.

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 a total asset book value of $14.3 billion including approximately 4,000 properties and 94.6 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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Institutional Ownership by Quarter for Vereit (NYSE:VER)

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