Vereit (VER) Upgraded to Buy at ValuEngine

Vereit (NYSE:VER) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Thursday, ValuEngine reports.

VER has been the subject of a number of other reports. Zacks Investment Research upgraded Vereit from a “sell” rating to a “hold” rating in a research report on Saturday, February 9th. Robert W. Baird lowered Vereit from an “outperform” rating to a “neutral” rating and set a $9.00 price target for the company. in a research report on Monday, February 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $8.63.

VER stock opened at $8.65 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $8.32 billion, a PE ratio of 12.01, a P/E/G ratio of 1.05 and a beta of 0.66. Vereit has a 1 year low of $6.88 and a 1 year high of $8.75.

Vereit (NYSE:VER) last posted its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $316.84 million during the quarter, compared to analyst estimates of $307.92 million. Vereit had a negative return on equity of 0.65% and a negative net margin of 3.83%. The business’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.18 earnings per share. Equities research analysts predict that Vereit will post 0.69 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. Great West Life Assurance Co. Can grew its position in Vereit by 2.3% in the fourth quarter. Great West Life Assurance Co. Can now owns 628,130 shares of the financial services provider’s stock worth $4,313,000 after acquiring an additional 14,113 shares during the period. Moors & Cabot Inc. grew its position in Vereit by 100.0% in the first quarter. Moors & Cabot Inc. now owns 29,958 shares of the financial services provider’s stock worth $252,000 after acquiring an additional 14,979 shares during the period. Park Avenue Securities LLC purchased a new position in Vereit in the first quarter worth approximately $157,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Vereit by 10.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,695,847 shares of the financial services provider’s stock worth $12,125,000 after acquiring an additional 166,249 shares during the period. Finally, Manning & Napier Group LLC grew its position in Vereit by 57.7% in the fourth quarter. Manning & Napier Group LLC now owns 679,920 shares of the financial services provider’s stock worth $4,861,000 after acquiring an additional 248,765 shares during the period. Institutional investors own 92.71% of the company’s stock.

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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