Banque Cantonale Vaudoise lowered its stake in shares of VEREIT, Inc. (NYSE:VER) by 5.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 4,086 shares of the financial services provider’s stock after selling 240 shares during the quarter. Banque Cantonale Vaudoise’s holdings in VEREIT were worth $158,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. GSA Capital Partners LLP acquired a new stake in shares of VEREIT in the 4th quarter valued at $337,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of VEREIT in the 4th quarter valued at $212,000. AJO LP acquired a new stake in shares of VEREIT in the 4th quarter valued at $360,000. Financial Management Network Inc. acquired a new stake in shares of VEREIT in the 4th quarter valued at $299,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of VEREIT in the 4th quarter valued at $184,000. 94.84% of the stock is currently owned by institutional investors and hedge funds.
VER has been the topic of a number of research analyst reports. BMO Capital Markets reaffirmed a “market perform” rating and issued a $48.00 target price (up previously from $45.00) on shares of VEREIT in a report on Thursday, May 13th. Capital One Financial raised VEREIT from an “equal weight” rating to an “overweight” rating and set a $48.00 target price on the stock in a report on Thursday, February 25th. Mizuho reiterated a “neutral” rating and issued a $48.00 price target on shares of VEREIT in a research note on Thursday, May 6th. Morgan Stanley increased their price target on VEREIT from $41.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, June 3rd. Finally, Evercore ISI reiterated a “hold” rating and issued a $45.00 price target on shares of VEREIT in a research note on Sunday, May 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $44.09.
VEREIT (NYSE:VER) last announced its earnings results on Thursday, May 6th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.27). The company had revenue of $290.81 million for the quarter, compared to the consensus estimate of $293.23 million. VEREIT had a return on equity of 3.60% and a net margin of 20.38%. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.84 earnings per share. On average, equities analysts anticipate that VEREIT, Inc. will post 3.18 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 15th. Investors of record on Wednesday, June 30th will be given a dividend of $0.462 per share. This represents a $1.85 annualized dividend and a yield of 3.75%. The ex-dividend date is Tuesday, June 29th. VEREIT’s dividend payout ratio is currently 59.49%.
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 $14.6 billion including approximately 3,800 properties and 88.9 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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