NN Investment Partners Holdings N.V. increased its position in Vereit Inc (NYSE:VER) by 251.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 110,536 shares of the financial services provider’s stock after purchasing an additional 79,107 shares during the quarter. NN Investment Partners Holdings N.V.’s holdings in Vereit were worth $803,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Qube Research & Technologies Ltd purchased a new stake in Vereit during the second quarter worth $130,000. Lourd Capital LLC purchased a new stake in Vereit during the third quarter worth $161,000. Kovack Advisors Inc. lifted its holdings in Vereit by 54.8% during the third quarter. Kovack Advisors Inc. now owns 23,274 shares of the financial services provider’s stock worth $169,000 after buying an additional 8,235 shares during the period. HighPoint Advisor Group LLC purchased a new stake in Vereit during the third quarter worth $169,000. Finally, Oakbrook Investments LLC purchased a new stake in Vereit during the third quarter worth $171,000. 87.44% of the stock is currently owned by institutional investors.
Shares of VER opened at $7.57 on Thursday. Vereit Inc has a 12 month low of $6.52 and a 12 month high of $8.26. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.66. The firm has a market cap of $7.23 billion, a PE ratio of 10.81, a price-to-earnings-growth ratio of 2.75 and a beta of 0.51.
Vereit (NYSE:VER) last issued its quarterly earnings data on Tuesday, November 6th. The financial services provider reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.27). Vereit had a negative net margin of 11.51% and a negative return on equity of 1.51%. The business had revenue of $289.03 million for the quarter, compared to analysts’ expectations of $291.19 million. During the same quarter in the prior year, the company posted $0.18 EPS. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. Analysts forecast that Vereit Inc will post 0.72 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be issued a dividend of $0.1375 per share. The ex-dividend date of this dividend is Friday, December 28th. This represents a $0.55 annualized dividend and a dividend yield of 7.27%. Vereit’s dividend payout ratio is presently 78.57%.
VER has been the subject of a number of analyst reports. ValuEngine upgraded Vereit from a “sell” rating to a “hold” rating in a report on Saturday, August 18th. Mizuho set a $8.00 target price on Vereit and gave the stock a “hold” rating in a report on Monday, August 13th. Robert W. Baird initiated coverage on Vereit in a report on Monday, October 22nd. They set an “outperform” rating and a $9.00 target price for the company. Finally, JPMorgan Chase & Co. upped their target price on Vereit from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Monday, September 17th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Vereit presently has a consensus rating of “Hold” and an average target price of $8.85.
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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 a total asset book value of $14.3 billion including approximately 4,000 properties and 94.6 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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