Vereit Inc (NYSE:VER) announced a quarterly dividend on Monday, May 6th, Zacks reports. Shareholders of record on Friday, June 28th will be paid a dividend of 0.138 per share by the financial services provider on Monday, July 15th. This represents a $0.55 dividend on an annualized basis and a yield of 5.98%. The ex-dividend date is Thursday, June 27th.
Vereit has increased its dividend payment by an average of 58.7% per year over the last three years. Vereit has a payout ratio of 80.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Vereit to earn $0.70 per share next year, which means the company should continue to be able to cover its $0.55 annual dividend with an expected future payout ratio of 78.6%.
VER stock opened at $9.23 on Wednesday. The stock’s 50 day moving average price is $8.90. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.73 and a quick ratio of 0.73. Vereit has a fifty-two week low of $6.88 and a fifty-two week high of $9.72. The stock has a market capitalization of $9.16 billion, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 1.04 and a beta of 0.54.
A number of analysts recently weighed in on VER shares. Bank of America upgraded shares of Vereit from an “underperform” rating to a “buy” rating and upped their target price for the stock from $8.00 to $10.50 in a research note on Tuesday, June 11th. ValuEngine upgraded shares of Vereit from a “hold” rating to a “buy” rating in a research note on Thursday, May 23rd. Finally, Zacks Investment Research upgraded shares of Vereit from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $9.00.
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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