Analysts expect Vereit Inc (NYSE:VER) to announce sales of $307.96 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Vereit’s earnings, with the lowest sales estimate coming in at $303.29 million and the highest estimate coming in at $313.29 million. Vereit posted sales of $313.26 million in the same quarter last year, which suggests a negative year over year growth rate of 1.7%. The business is scheduled to issue its next quarterly earnings report on Thursday, February 20th.
On average, analysts expect that Vereit will report full year sales of $1.24 billion for the current financial year, with estimates ranging from $1.24 billion to $1.25 billion. For the next year, analysts forecast that the firm will post sales of $1.25 billion, with estimates ranging from $1.22 billion to $1.29 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Vereit.
Vereit (NYSE:VER) last issued its earnings results on Wednesday, November 6th. The financial services provider reported ($0.76) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.93). Vereit had a negative return on equity of 4.76% and a negative net margin of 27.65%. The company had revenue of $302.99 million during the quarter, compared to analyst estimates of $306.69 million. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The business’s revenue was down 3.5% compared to the same quarter last year.
NYSE VER traded up $0.12 during trading hours on Wednesday, reaching $9.58. 8,568,395 shares of the company’s stock were exchanged, compared to its average volume of 12,132,517. The stock has a market cap of $10.07 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 1.33 and a beta of 0.57. Vereit has a one year low of $6.95 and a one year high of $10.13. The firm has a fifty day moving average of $9.74 and a 200-day moving average of $9.30. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.78.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.138 per share. This represents a $0.55 annualized dividend and a yield of 5.76%. The ex-dividend date of this dividend is Monday, December 30th. Vereit’s dividend payout ratio is 76.39%.
In other Vereit news, insider Thomas W. Roberts sold 25,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $9.87, for a total transaction of $246,750.00. Following the transaction, the insider now owns 433,478 shares of the company’s stock, valued at approximately $4,278,427.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.22% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the business. US Bancorp DE lifted its stake 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 period. Advantage Investment Management LLC lifted its stake 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 period. Huntington National Bank lifted its stake in shares of Vereit by 53.3% in the 3rd quarter. Huntington National Bank now owns 3,511 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 1,220 shares during the period. Janney Montgomery Scott LLC lifted its stake 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 period. Finally, SeaCrest Wealth Management LLC lifted its stake 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 period. 95.76% of the stock is currently owned by hedge funds and other institutional investors.
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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