Equities analysts predict that Vereit Inc (NYSE:VER) will report $289.18 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Vereit’s earnings, with estimates ranging from $289.03 million to $289.33 million. Vereit reported sales of $290.56 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.5%. The company is expected to issue its next earnings report on Thursday, February 28th.
According to Zacks, analysts expect that Vereit will report full-year sales of $1.16 billion for the current year. For the next financial year, analysts forecast that the company will report sales of $1.16 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Vereit.
Vereit (NYSE:VER) last announced its quarterly earnings data on Tuesday, November 6th. The financial services provider reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.27). Vereit had a negative net margin of 11.51% and a negative return on equity of 1.53%. The company had revenue of $289.03 million for the quarter, compared to analysts’ expectations of $291.19 million. During the same period in the previous year, the firm posted $0.18 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis.
VER traded down $0.09 on Wednesday, reaching $7.81. 8,152,873 shares of the company traded hands, compared to its average volume of 7,950,628. Vereit has a 52-week low of $6.52 and a 52-week high of $8.09. The company has a market capitalization of $7.64 billion, a PE ratio of 11.16, a PEG ratio of 4.61 and a beta of 0.53. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.70 and a current ratio of 0.70.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be given a $0.1375 dividend. This represents a $0.55 annualized dividend and a yield of 7.04%. The ex-dividend date is Friday, December 28th. Vereit’s dividend payout ratio is 78.57%.
Several hedge funds and other institutional investors have recently bought and sold shares of VER. Brookfield Asset Management Inc. bought a new stake in shares of Vereit during the 3rd quarter worth $75,074,000. Centersquare Investment Management LLC boosted its holdings in shares of Vereit by 21.4% during the 2nd quarter. Centersquare Investment Management LLC now owns 21,014,573 shares of the financial services provider’s stock worth $156,348,000 after buying an additional 3,697,262 shares during the period. BlackRock Inc. boosted its holdings in shares of Vereit by 3.8% during the 2nd quarter. BlackRock Inc. now owns 85,065,999 shares of the financial services provider’s stock worth $632,890,000 after buying an additional 3,090,710 shares during the period. LSV Asset Management boosted its holdings in shares of Vereit by 15.5% during the 2nd quarter. LSV Asset Management now owns 22,913,053 shares of the financial services provider’s stock worth $170,473,000 after buying an additional 3,077,953 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of Vereit by 506.6% during the 2nd quarter. Renaissance Technologies LLC now owns 3,403,754 shares of the financial services provider’s stock worth $25,324,000 after buying an additional 2,842,600 shares during the period. 89.12% of the stock is owned by institutional investors and hedge funds.
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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