Vereit (NYSE:VER) Rating Lowered to Sell at Zacks Investment Research

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Zacks Investment Research downgraded shares of Vereit (NYSE:VER) from a hold rating to a sell rating in a research note released on Saturday morning, 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. “

A number of other brokerages have also issued reports on VER. Evercore ISI set a $9.00 price target on shares of Vereit and gave the stock a hold rating in a report on Wednesday, August 7th. BMO Capital Markets started coverage on shares of Vereit in a report on Friday, October 25th. They issued an outperform rating and a $11.00 price target on the stock. ValuEngine raised shares of Vereit from a sell rating to a hold rating in a research report on Friday, November 1st. Morgan Stanley raised their target price on shares of Vereit from $9.00 to $9.50 and gave the stock an equal weight rating in a research report on Tuesday, September 17th. Finally, Stifel Nicolaus raised their target price on shares of Vereit from $9.25 to $9.50 and gave the stock a hold rating in a research report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Vereit currently has an average rating of Hold and a consensus target price of $9.94.

Vereit stock traded up $0.12 during trading hours on Friday, reaching $9.58. The stock had a trading volume of 8,568,395 shares, compared to its average volume of 12,301,716. The stock has a market cap of $10.10 billion, a PE ratio of 13.31, a PEG ratio of 1.33 and a beta of 0.57. Vereit has a 52 week low of $6.95 and a 52 week high of $10.13. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.92 and a quick ratio of 0.92. The company has a fifty day simple moving average of $9.74 and a 200-day simple moving average of $9.30.

Vereit (NYSE:VER) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.93). The firm had revenue of $302.99 million during the quarter, compared to the consensus estimate of $306.69 million. Vereit had a negative return on equity of 4.76% and a negative net margin of 27.65%. Vereit’s revenue was down 3.5% on a year-over-year basis. During the same period last year, the business earned $0.18 EPS. Research analysts predict that Vereit will post 0.69 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.138 dividend. The ex-dividend date is Monday, December 30th. This represents a $0.55 annualized dividend and a dividend yield of 5.76%. Vereit’s dividend payout ratio is 76.39%.

In other news, insider Thomas W. Roberts sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $9.87, for a total value of $246,750.00. Following the completion of the sale, the insider now directly owns 433,478 shares of the company’s stock, valued at approximately $4,278,427.86. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.22% of the company’s stock.

Large investors have recently bought and sold shares of the company. Nuveen Asset Management LLC lifted its position in shares of Vereit by 14.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 7,254,523 shares of the financial services provider’s stock worth $65,363,000 after purchasing an additional 918,279 shares during the period. Profund Advisors LLC lifted its position in Vereit by 18.5% during the 2nd quarter. Profund Advisors LLC now owns 65,934 shares of the financial services provider’s stock valued at $594,000 after acquiring an additional 10,315 shares during the period. DNB Asset Management AS lifted its position in Vereit by 5.2% during the 3rd quarter. DNB Asset Management AS now owns 272,378 shares of the financial services provider’s stock valued at $2,664,000 after acquiring an additional 13,383 shares during the period. Meeder Asset Management Inc. lifted its position in Vereit by 21.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 15,036 shares of the financial services provider’s stock valued at $136,000 after acquiring an additional 2,611 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Vereit by 7.3% during the 2nd quarter. Renaissance Technologies LLC now owns 6,240,854 shares of the financial services provider’s stock valued at $56,230,000 after acquiring an additional 424,000 shares during the period. 95.76% of the stock is 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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