Gruss Capital Management LP Increases Position in VEREIT Inc. (VER)

Gruss Capital Management LP increased its holdings in VEREIT Inc. (NYSE:VER) by 69.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,285,000 shares of the financial services provider’s stock after purchasing an additional 1,350,000 shares during the period. VEREIT makes up about 2.4% of Gruss Capital Management LP’s investment portfolio, making the stock its 12th largest position. Gruss Capital Management LP owned about 0.34% of VEREIT worth $27,233,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Creative Planning boosted its stake in VEREIT by 15.0% during the second quarter. Creative Planning now owns 14,959 shares of the financial services provider’s stock worth $122,000 after buying an additional 1,950 shares during the period. Acadian Asset Management LLC boosted its stake in VEREIT by 60.0% during the second quarter. Acadian Asset Management LLC now owns 68,251 shares of the financial services provider’s stock worth $556,000 after buying an additional 25,582 shares during the period. Janney Montgomery Scott LLC boosted its stake in VEREIT by 64.2% during the second quarter. Janney Montgomery Scott LLC now owns 49,575 shares of the financial services provider’s stock worth $404,000 after buying an additional 19,375 shares during the period. CIBC Asset Management Inc boosted its stake in VEREIT by 3.6% during the second quarter. CIBC Asset Management Inc now owns 48,788 shares of the financial services provider’s stock worth $397,000 after buying an additional 1,683 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its stake in VEREIT by 42.9% during the second quarter. State of New Jersey Common Pension Fund D now owns 400,000 shares of the financial services provider’s stock worth $3,256,000 after buying an additional 120,000 shares during the period. Institutional investors own 85.28% of the company’s stock.

VER has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of VEREIT from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. ValuEngine raised shares of VEREIT from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. Finally, Stifel Nicolaus reissued a “hold” rating on shares of VEREIT in a research note on Wednesday, November 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $9.81.

Shares of VEREIT Inc. (NYSE VER) traded up $0.04 on Thursday, hitting $7.79. 8,496,700 shares of the stock were exchanged, compared to its average volume of 8,538,903. The stock has a market capitalization of $7,550.27, a price-to-earnings ratio of 10.62 and a beta of 0.73. VEREIT Inc. has a 1 year low of $7.44 and a 1 year high of $9.12. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.37 and a quick ratio of 0.37.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.138 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 7.09%. The ex-dividend date is Thursday, December 28th. VEREIT’s dividend payout ratio is currently -549.95%.

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VEREIT Company Profile

VEREIT, Inc is a full-service real estate operating company. The Company owns and manages a diversified portfolio of retail, restaurant, office and industrial real estate assets. It operates through two segments: real estate investment (REI) segment and its investment management segment, Cole Capital.

Institutional Ownership by Quarter for VEREIT (NYSE:VER)

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