Insider Selling: Vereit Inc (NYSE:VER) Insider Sells 25,000 Shares of Stock

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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.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.138 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.66%. The ex-dividend date of this dividend is Friday, September 27th. Vereit’s payout ratio is 76.39%.

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.

See Also: Producer Price Index (PPI)

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