BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Vereit Inc (NYSE:VER) by 170.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 501,283 shares of the financial services provider’s stock after purchasing an additional 315,790 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Vereit were worth $3,584,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in VER. Essex Savings Bank acquired a new position in shares of Vereit during the fourth quarter valued at $29,000. Bessemer Group Inc. boosted its holdings in shares of Vereit by 47.8% during the fourth quarter. Bessemer Group Inc. now owns 4,174 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 1,349 shares during the period. Rehmann Capital Advisory Group boosted its holdings in shares of Vereit by 801.3% during the fourth quarter. Rehmann Capital Advisory Group now owns 4,930 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 4,383 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of Vereit by 26.1% during the fourth quarter. Quadrant Capital Group LLC now owns 12,026 shares of the financial services provider’s stock valued at $82,000 after acquiring an additional 2,490 shares during the period. Finally, Dorsey & Whitney Trust CO LLC acquired a new position in shares of Vereit during the fourth quarter valued at $83,000. 92.43% of the stock is owned by hedge funds and other institutional investors.
Shares of VER opened at $8.27 on Friday. Vereit Inc has a 1 year low of $6.52 and a 1 year high of $8.38. The firm has a market cap of $8.04 billion, a PE ratio of 11.49, a PEG ratio of 1.12 and a beta of 0.67. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.78 and a quick ratio of 0.78.
Vereit (NYSE:VER) last announced its quarterly earnings results on Thursday, February 21st. The financial services provider reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.16). Vereit had a negative net margin of 6.82% and a negative return on equity of 1.18%. The firm had revenue of $313.26 million for the quarter, compared to analyst estimates of $288.89 million. During the same period last year, the firm posted $0.18 EPS. The business’s revenue was down 1.1% compared to the same quarter last year. On average, analysts anticipate that Vereit Inc will post 0.7 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be paid a dividend of $0.138 per share. This is a boost from Vereit’s previous quarterly dividend of $0.14. This represents a $0.55 dividend on an annualized basis and a dividend yield of 6.67%. The ex-dividend date is Thursday, March 28th. Vereit’s payout ratio is currently 76.39%.
Several equities analysts have recently issued reports on VER shares. ValuEngine raised shares of Vereit from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Zacks Investment Research raised shares of Vereit from a “sell” rating to a “hold” rating in a report on Friday, February 22nd. Finally, Robert W. Baird downgraded shares of Vereit from an “outperform” rating to a “neutral” rating and set a $9.00 price target for the company. in a report on Monday, February 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $8.63.
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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 $14.1 billion including approximately 4,000 properties and 93.9 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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