Vereit Inc (NYSE:VER) insider Thomas W. Roberts sold 25,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $9.87, for a total value of $246,750.00. Following the transaction, the insider now directly owns 433,478 shares in the company, valued at approximately $4,278,427.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of Vereit stock opened at $9.75 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.75. The business’s 50 day simple moving average is $9.56 and its 200-day simple moving average is $8.88. The stock has a market capitalization of $9.48 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 1.25 and a beta of 0.53. Vereit Inc has a twelve month low of $6.88 and a twelve month high of $9.94.
Vereit (NYSE:VER) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.10. The business had revenue of $312.10 million for the quarter, compared to analysts’ expectations of $314.95 million. Vereit had a return on equity of 4.23% and a net margin of 24.69%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.18 EPS. Sell-side analysts predict that Vereit Inc will post 0.7 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in VER. Comerica Securities Inc. acquired a new stake in Vereit in the 4th quarter valued at approximately $137,000. Geode Capital Management LLC increased its position in Vereit by 6.6% in the 4th quarter. Geode Capital Management LLC now owns 9,374,117 shares of the financial services provider’s stock valued at $66,980,000 after acquiring an additional 581,958 shares during the period. Comerica Bank increased its position in Vereit by 7.0% in the 1st quarter. Comerica Bank now owns 108,088 shares of the financial services provider’s stock valued at $901,000 after acquiring an additional 7,054 shares during the period. Toronto Dominion Bank increased its position in Vereit by 33.7% in the 1st quarter. Toronto Dominion Bank now owns 174,202 shares of the financial services provider’s stock valued at $1,458,000 after acquiring an additional 43,907 shares during the period. Finally, MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in Vereit in the 1st quarter valued at approximately $2,590,000. Institutional investors and hedge funds own 93.39% of the company’s stock.
A number of research analysts have commented on VER shares. Bank of America raised Vereit from an “underperform” rating to a “buy” rating and increased their target price for the stock from $8.00 to $10.50 in a report on Tuesday, June 11th. Morgan Stanley increased their target price on Vereit from $9.00 to $9.50 and gave the stock an “equal weight” rating in a report on Tuesday. TheStreet raised Vereit from a “c” rating to a “b-” rating in a report on Friday, August 9th. Stifel Nicolaus increased their target price on Vereit from $9.25 to $9.50 and gave the stock a “hold” rating in a report on Tuesday, September 10th. Finally, Zacks Investment Research raised Vereit from a “sell” rating to a “hold” rating in a report on Wednesday, August 14th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $9.64.
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 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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