DnB Asset Management AS increased its stake in shares of Vereit Inc. (NYSE:VER) by 9.1% during the third quarter, Holdings Channel reports. The fund owned 57,449 shares of the company’s stock after buying an additional 4,800 shares during the period. DnB Asset Management AS’s holdings in Vereit were worth $596,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in VER. FMR LLC boosted its position in shares of Vereit by 20.3% in the second quarter. FMR LLC now owns 82,998,582 shares of the company’s stock valued at $841,606,000 after buying an additional 14,029,056 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Vereit by 84.3% in the second quarter. American Century Companies Inc. now owns 6,613,255 shares of the company’s stock valued at $67,058,000 after buying an additional 3,025,683 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Vereit during the second quarter valued at about $21,617,000. Real Estate Management Services LLC boosted its position in shares of Vereit by 492.5% in the third quarter. Real Estate Management Services LLC now owns 2,432,100 shares of the company’s stock valued at $25,221,000 after buying an additional 2,021,600 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in shares of Vereit by 1,749.8% in the second quarter. Prudential Financial Inc. now owns 1,046,792 shares of the company’s stock valued at $10,614,000 after buying an additional 990,202 shares in the last quarter. 82.27% of the stock is currently owned by hedge funds and other institutional investors.
Vereit Inc. (NYSE:VER) traded down 2.75% during mid-day trading on Thursday, hitting $8.48. 6,149,729 shares of the company traded hands. Vereit Inc. has a one year low of $7.01 and a one year high of $11.09. The company’s 50-day moving average price is $8.48 and its 200 day moving average price is $9.56. The company’s market capitalization is $8.26 billion.
Vereit (NYSE:VER) last released its earnings results on Wednesday, November 2nd. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. Vereit had a negative net margin of 18.02% and a negative return on equity of 3.12%. The company had revenue of $362.90 million for the quarter, compared to the consensus estimate of $320.29 million. During the same period in the prior year, the company posted $0.21 EPS. The company’s revenue was down 5.7% compared to the same quarter last year. On average, analysts anticipate that Vereit Inc. will post ($0.14) earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th were given a dividend of $0.1375 per share. The ex-dividend date was Wednesday, December 28th. This represents a $0.55 dividend on an annualized basis and a yield of 6.49%. Vereit’s payout ratio is presently -141.02%.
VER has been the topic of several recent research reports. BMO Capital Markets set a $10.00 price objective on shares of Vereit and gave the stock a “buy” rating in a research note on Thursday, January 12th. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $11.00 price objective on shares of Vereit in a research note on Wednesday, November 30th. JMP Securities reissued a “hold” rating on shares of Vereit in a research report on Saturday, November 19th. Zacks Investment Research downgraded shares of Vereit from a “buy” rating to a “hold” rating in a research report on Saturday, November 12th. Finally, DA Davidson reissued a “hold” rating on shares of Vereit in a research report on Thursday, November 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $10.14.
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