Lasalle Investment Management Securities LLC decreased its stake in VEREIT Inc. (NYSE:VER) by 5.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,317,991 shares of the financial services provider’s stock after selling 811,595 shares during the period. VEREIT makes up about 1.6% of Lasalle Investment Management Securities LLC’s holdings, making the stock its 26th largest position. Lasalle Investment Management Securities LLC owned about 1.57% of VEREIT worth $124,688,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Creative Planning increased its position in VEREIT by 9.0% in the first quarter. Creative Planning now owns 13,009 shares of the financial services provider’s stock valued at $110,000 after buying an additional 1,069 shares during the last quarter. Capstone Asset Management Co. increased its position in VEREIT by 4.1% in the first quarter. Capstone Asset Management Co. now owns 18,452 shares of the financial services provider’s stock valued at $157,000 after buying an additional 720 shares during the last quarter. DnB Asset Management AS increased its position in VEREIT by 37.7% in the first quarter. DnB Asset Management AS now owns 94,949 shares of the financial services provider’s stock valued at $806,000 after buying an additional 26,000 shares during the last quarter. Candriam Luxembourg S.C.A. increased its position in VEREIT by 19.8% in the first quarter. Candriam Luxembourg S.C.A. now owns 92,703 shares of the financial services provider’s stock valued at $787,000 after buying an additional 15,291 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its position in VEREIT by 5.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 25,980 shares of the financial services provider’s stock valued at $206,000 after buying an additional 1,321 shares during the last quarter. Institutional investors own 86.02% of the company’s stock.

VEREIT Inc. (VER) opened at 8.54 on Monday. VEREIT Inc. has a 52 week low of $7.44 and a 52 week high of $10.76. The company’s market cap is $8.32 billion. The firm has a 50-day moving average price of $8.40 and a 200 day moving average price of $8.40.

VEREIT (NYSE:VER) last posted its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.16. VEREIT had a negative return on equity of 0.44% and a negative net margin of 2.72%. The firm had revenue of $336.90 million during the quarter, compared to analyst estimates of $296.02 million. During the same quarter in the previous year, the firm posted $0.19 earnings per share. The company’s quarterly revenue was down 9.2% on a year-over-year basis. Analysts expect that VEREIT Inc. will post ($1.70) EPS for the current fiscal year.

VEREIT announced that its board has initiated a stock buyback program on Monday, May 15th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a $0.138 dividend. This represents a $0.55 annualized dividend and a yield of 6.46%. This is a boost from VEREIT’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Thursday, September 28th. VEREIT’s payout ratio is presently -499.95%.

ILLEGAL ACTIVITY NOTICE: “Lasalle Investment Management Securities LLC Decreases Stake in VEREIT Inc. (VER)” was first posted by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are accessing this report on another website, it was stolen and reposted in violation of US & international copyright laws. The legal version of this report can be viewed at https://theolympiareport.com/2017/08/28/lasalle-investment-management-securities-llc-decreases-stake-in-vereit-inc-ver.html.

VER has been the subject of several research reports. Zacks Investment Research downgraded VEREIT from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. Evercore ISI upgraded VEREIT from an “in-line” rating to an “outperform” rating and set a $9.00 price target for the company in a research note on Friday, May 5th. ValuEngine downgraded VEREIT from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BidaskClub downgraded VEREIT from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. VEREIT currently has a consensus rating of “Hold” and an average target price of $9.80.

VEREIT Company Profile

VEREIT, Inc is a full-service real estate operating company. The Company operates through two business segments: real estate investment (REI) segment and investment management segment, Cole Capital. As of December 31, 2016, through its REI segment, the Company owned and managed a portfolio of 4,142 retail, restaurant, office and industrial real estate properties with an aggregate of 93.3 million square feet, which are located in 49 states, Puerto Rico and Canada.

Institutional Ownership by Quarter for VEREIT (NYSE:VER)

Receive News & Ratings for VEREIT Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VEREIT Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.