Ameriprise Financial Inc. lessened its holdings in shares of VEREIT Inc. (NYSE:VER) by 8.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,366,302 shares of the financial services provider’s stock after selling 426,256 shares during the period. Ameriprise Financial Inc. owned 0.45% of VEREIT worth $35,543,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Dynamic Advisors Solutions LLC grew its stake in VEREIT by 0.9% during the 2nd quarter. Dynamic Advisors Solutions LLC now owns 14,574 shares of the financial services provider’s stock valued at $119,000 after acquiring an additional 127 shares in the last quarter. World Asset Management Inc grew its stake in VEREIT by 0.4% during the 2nd quarter. World Asset Management Inc now owns 49,401 shares of the financial services provider’s stock valued at $402,000 after acquiring an additional 196 shares in the last quarter. Pacer Advisors Inc. grew its stake in VEREIT by 3.4% during the 1st quarter. Pacer Advisors Inc. now owns 15,881 shares of the financial services provider’s stock valued at $135,000 after acquiring an additional 529 shares in the last quarter. IFP Advisors Inc grew its stake in VEREIT by 0.4% during the 2nd quarter. IFP Advisors Inc now owns 167,829 shares of the financial services provider’s stock valued at $1,366,000 after acquiring an additional 657 shares in the last quarter. Finally, Capstone Asset Management Co. grew its stake in VEREIT by 4.1% during the 1st quarter. Capstone Asset Management Co. now owns 18,452 shares of the financial services provider’s stock valued at $157,000 after acquiring an additional 720 shares in the last quarter. 85.99% of the stock is owned by institutional investors.
Shares of VEREIT Inc. (NYSE VER) opened at 8.40 on Friday. The company’s 50-day moving average is $8.53 and its 200 day moving average is $8.36. VEREIT Inc. has a 52 week low of $7.44 and a 52 week high of $10.44. The stock’s market cap is $8.18 billion.
VEREIT (NYSE:VER) last announced its earnings results on Thursday, August 3rd. The financial services provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.16). The business had revenue of $336.90 million for the quarter, compared to analyst estimates of $296.02 million. VEREIT had a negative return on equity of 0.44% and a negative net margin of 2.72%. The business’s revenue was down 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.19 EPS. Analysts forecast that VEREIT Inc. will post ($1.70) earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be given a dividend of $0.138 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.55 dividend on an annualized basis and a yield of 6.57%. This is a boost from VEREIT’s previous quarterly dividend of $0.14. VEREIT’s payout ratio is presently -499.95%.
Several analysts recently issued reports on VER shares. Zacks Investment Research raised shares of VEREIT from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a research note on Wednesday, July 19th. BidaskClub raised shares of VEREIT from a “sell” rating to a “hold” rating in a research note on Sunday, July 16th. Finally, ValuEngine cut shares of VEREIT from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. VEREIT currently has a consensus rating of “Hold” and a consensus target price of $9.80.
VEREIT Company Profile
VEREIT, Inc is a full-service real estate operating company. The Company operates through two business segments: real estate investment (REI) segment and investment management segment, Cole Capital. As of December 31, 2016, through its REI segment, the Company owned and managed a portfolio of 4,142 retail, restaurant, office and industrial real estate properties with an aggregate of 93.3 million square feet, which are located in 49 states, Puerto Rico and Canada.
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