VEREIT Inc. (VER) Downgraded by Zacks Investment Research
Zacks Investment Research cut shares of VEREIT Inc. (NYSE:VER) from a buy rating to a hold rating in a research note released on Saturday.
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. “
VER has been the subject of a number of other research reports. BidaskClub downgraded shares of VEREIT from a hold rating to a sell rating in a research note on Friday, July 28th. ValuEngine upgraded shares of VEREIT from a hold rating to a buy rating in a research note on Friday, October 6th. Finally, Stifel Nicolaus reiterated a hold rating on shares of VEREIT in a research note on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. VEREIT currently has an average rating of Hold and an average price target of $9.81.
VEREIT (NYSE VER) opened at $8.01 on Friday. VEREIT has a 12 month low of $7.44 and a 12 month high of $9.12. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.60. The stock has a market cap of $7,860.00, a P/E ratio of 11.06 and a beta of 0.76.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a dividend of $0.138 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.55 annualized dividend and a dividend yield of 6.89%. VEREIT’s dividend payout ratio is presently -423.08%.
Large investors have recently modified their holdings of the company. WINTON GROUP Ltd purchased a new stake in shares of VEREIT during the 2nd quarter worth approximately $100,000. Strid Group LLC purchased a new stake in shares of VEREIT during the 2nd quarter worth approximately $105,000. Ffcm LLC purchased a new stake in shares of VEREIT during the 3rd quarter worth approximately $111,000. Sheaff Brock Investment Advisors LLC lifted its position in shares of VEREIT by 26.8% during the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 14,033 shares of the financial services provider’s stock worth $114,000 after buying an additional 2,969 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC purchased a new stake in shares of VEREIT during the 3rd quarter worth approximately $117,000. Institutional investors and hedge funds own 86.42% of the company’s stock.
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.
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