VEREIT Inc. (VER) Plans $0.14 Quarterly Dividend
VEREIT Inc. (NYSE:VER) declared a quarterly dividend on Tuesday, November 7th, Zacks reports. Shareholders of record on Friday, December 29th will be paid a dividend of 0.138 per share by the financial services provider on Tuesday, January 16th. This represents a $0.55 dividend on an annualized basis and a yield of 7.06%. The ex-dividend date is Thursday, December 28th.
VEREIT has a payout ratio of 77.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect VEREIT to earn $0.73 per share next year, which means the company should continue to be able to cover its $0.55 annual dividend with an expected future payout ratio of 75.3%.
Shares of VEREIT (VER) traded up $0.06 on Friday, reaching $7.82. The company’s stock had a trading volume of 4,564,742 shares, compared to its average volume of 9,797,145. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.37 and a current ratio of 0.37. VEREIT has a 12-month low of $7.44 and a 12-month high of $9.12. The company has a market capitalization of $7,560.01, a PE ratio of -78.19 and a beta of 0.73.
VER has been the topic of a number of research analyst reports. Zacks Investment Research lowered VEREIT from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. ValuEngine raised VEREIT from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. Finally, Stifel Nicolaus reaffirmed a “hold” rating on shares of VEREIT in a research report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $9.42.
VEREIT, Inc is a full-service real estate operating company. The Company owns and manages a diversified portfolio of retail, restaurant, office and industrial real estate assets. It operates through two segments: real estate investment (REI) segment and its investment management segment, Cole Capital.
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