Vereit Inc (NYSE:VER) Position Increased by Mitsubishi UFJ Trust & Banking Corp
Mitsubishi UFJ Trust & Banking Corp grew its position in Vereit Inc (NYSE:VER) by 3.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 991,788 shares of the financial services provider’s stock after purchasing an additional 35,195 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Vereit were worth $9,164,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in VER. Solstein Capital LLC purchased a new position in Vereit during the 4th quarter worth approximately $25,000. FinTrust Capital Advisors LLC bought a new stake in shares of Vereit in the 4th quarter valued at approximately $31,000. Lighthouse Financial Advisors Inc. bought a new stake in shares of Vereit in the 4th quarter valued at approximately $31,000. Sugarloaf Wealth Management LLC acquired a new position in Vereit in the fourth quarter worth approximately $35,000. Finally, Resources Management Corp CT ADV bought a new position in Vereit during the third quarter valued at approximately $40,000. Institutional investors and hedge funds own 92.73% of the company’s stock.
A number of analysts have issued reports on the stock. Zacks Investment Research cut shares of Vereit from a “hold” rating to a “sell” rating in a research note on Saturday, March 14th. ValuEngine upgraded shares of Vereit from a “sell” rating to a “hold” rating in a report on Monday, March 9th. Finally, Capital One Financial reiterated an “equal weight” rating on shares of Vereit in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $10.19.
Vereit (NYSE:VER) last announced its earnings results on Wednesday, February 26th. The financial services provider reported $0.05 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.11). The firm had revenue of $305.40 million during the quarter, compared to the consensus estimate of $299.30 million. Vereit had a negative return on equity of 4.22% and a negative net margin of 24.28%. The business’s revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.17 EPS. As a group, equities analysts forecast that Vereit Inc will post 0.64 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a $0.138 dividend. The ex-dividend date is Monday, March 30th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 10.89%. Vereit’s payout ratio is presently 79.71%.
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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