Vereit Inc (NYSE:VER) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
Several other brokerages also recently commented on VER. Zacks Investment Research upgraded shares of Vereit from a “sell” rating to a “hold” rating and set a $9.50 price objective for the company in a research report on Tuesday, February 7th. Evercore ISI restated an “in-line” rating and set a $9.00 price objective on shares of Vereit in a research report on Wednesday, April 26th. Finally, BMO Capital Markets set a $10.00 price objective on shares of Vereit and gave the company a “buy” rating in a research report on Wednesday, March 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $9.80.
Shares of Vereit (VER) opened at 8.17 on Friday. Vereit has a 12-month low of $7.44 and a 12-month high of $11.09. The company’s 50-day moving average price is $8.16 and its 200-day moving average price is $8.45. The firm’s market capitalization is $7.96 billion.
Vereit (NYSE:VER) last announced its quarterly earnings data on Thursday, May 4th. The financial services provider reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. Vereit had a negative net margin of 18.02% and a negative return on equity of 3.12%. The business had revenue of $348.03 million during the quarter, compared to the consensus estimate of $297.94 million. During the same period in the previous year, the business earned $0.21 earnings per share. The company’s revenue was down 5.7% on a year-over-year basis. Analysts anticipate that Vereit will post ($0.02) EPS for the current year.
In related news, insider Hugh R. Frater purchased 10,000 shares of the stock in a transaction dated Friday, May 5th. The stock was bought at an average cost of $7.81 per share, for a total transaction of $78,100.00. Following the completion of the acquisition, the insider now owns 37,486 shares of the company’s stock, valued at $292,765.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Glenn J. Rufrano purchased 32,000 shares of the stock in a transaction dated Monday, May 8th. The shares were bought at an average price of $7.81 per share, with a total value of $249,920.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,962,657 shares of the company’s stock, valued at approximately $15,328,351.17. The disclosure for this purchase can be found here. Insiders have bought 91,725 shares of company stock valued at $706,509 over the last quarter. Company insiders own 0.09% of the company’s stock. Several hedge funds and other institutional investors have recently made changes to their positions in VER. Macquarie Group Ltd. increased its position in shares of Vereit by 40.5% in the fourth quarter. Macquarie Group Ltd. now owns 433,874 shares of the financial services provider’s stock valued at $3,670,000 after buying an additional 125,018 shares during the period. Segantii Capital Management Ltd bought a new stake in Vereit during the third quarter worth $5,120,000. First Heartland Consultants Inc. increased its stake in Vereit by 5.0% in the third quarter. First Heartland Consultants Inc. now owns 131,635 shares of the financial services provider’s stock worth $1,365,000 after buying an additional 6,302 shares during the last quarter. Sii Investments Inc. WI increased its stake in Vereit by 14.9% in the fourth quarter. Sii Investments Inc. WI now owns 363,297 shares of the financial services provider’s stock worth $3,072,000 after buying an additional 47,169 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Vereit by 7.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 12,285,595 shares of the financial services provider’s stock worth $103,934,000 after buying an additional 872,467 shares during the last quarter. Institutional investors own 82.54% of the company’s stock.
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