Vereit (NYSE:VER) Rating Increased to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of Vereit (NYSE:VER) from a sell rating to a hold rating in a research report sent to investors on Wednesday, Zacks.com reports.

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. “

VER has been the topic of a number of other research reports. TheStreet upgraded shares of Vereit from a c rating to a b- rating in a research report on Friday, August 9th. ValuEngine lowered shares of Vereit from a buy rating to a hold rating in a research report on Friday, July 19th. Evercore ISI set a $9.00 target price on shares of Vereit and gave the stock a hold rating in a research report on Wednesday, August 7th. Bank of America upgraded shares of Vereit from an underperform rating to a buy rating and raised their target price for the stock from $8.00 to $10.50 in a research report on Tuesday, June 11th. Finally, Morgan Stanley began coverage on shares of Vereit in a research report on Monday, August 5th. They set an equal weight rating and a $9.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $9.42.

Shares of NYSE VER opened at $9.62 on Wednesday. Vereit has a 1 year low of $6.88 and a 1 year high of $9.77. The firm’s 50 day moving average price is $9.19 and its 200 day moving average price is $8.64. The firm has a market cap of $9.31 billion, a P/E ratio of 13.36, a price-to-earnings-growth ratio of 1.20 and a beta of 0.55. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.10 and a current ratio of 1.10.

Vereit (NYSE:VER) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.10. Vereit had a net margin of 24.69% and a return on equity of 4.23%. The firm had revenue of $312.10 million for the quarter, compared to analyst estimates of $314.95 million. During the same quarter last year, the business earned $0.18 earnings per share. Vereit’s revenue was down 1.1% compared to the same quarter last year. As a group, equities analysts predict that Vereit will post 0.69 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.138 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.74%. Vereit’s dividend payout ratio (DPR) is presently 76.39%.

Several institutional investors and hedge funds have recently made changes to their positions in the business. US Bancorp DE boosted its holdings in shares of Vereit by 2.0% in the 2nd quarter. US Bancorp DE now owns 56,743 shares of the financial services provider’s stock valued at $511,000 after purchasing an additional 1,101 shares during the last quarter. Advantage Investment Management LLC boosted its holdings in shares of Vereit by 8.7% in the 2nd quarter. Advantage Investment Management LLC now owns 14,254 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 1,135 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Vereit by 1.5% in the 2nd quarter. Janney Montgomery Scott LLC now owns 85,472 shares of the financial services provider’s stock valued at $770,000 after purchasing an additional 1,266 shares during the last quarter. SeaCrest Wealth Management LLC boosted its holdings in shares of Vereit by 4.7% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 29,393 shares of the financial services provider’s stock valued at $265,000 after purchasing an additional 1,311 shares during the last quarter. Finally, Stockman Wealth Management Inc. boosted its holdings in shares of Vereit by 3.1% in the 2nd quarter. Stockman Wealth Management Inc. now owns 50,350 shares of the financial services provider’s stock valued at $454,000 after purchasing an additional 1,500 shares during the last quarter. Institutional investors own 91.76% of the company’s stock.

About Vereit

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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