Zacks Investment Research Downgrades VEREIT (VER) to Hold

Zacks Investment Research downgraded shares of VEREIT (NYSE:VER) from a buy rating to a hold rating in a research report report published on Saturday, November 18th.

According to Zacks, “VEREIT, Inc. is a real estate operating company. The Company owns and manages a diversified portfolio of retail, restaurant, office and industrial real estate assets. VEREIT, Inc., formerly known as American Realty Capital Properties Inc., is based in Phoenix, United States. “

VER has been the topic of several other research reports. BidaskClub downgraded shares of VEREIT from a hold rating to a sell rating in a report on Friday, July 28th. ValuEngine upgraded shares of VEREIT from a hold rating to a buy rating in a report on Friday, October 6th. Finally, Stifel Nicolaus restated a hold rating on shares of VEREIT in a report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $9.81.

Shares of VEREIT (NYSE:VER) traded up $0.04 during midday trading on Friday, reaching $7.79. 8,496,778 shares of the company traded hands, compared to its average volume of 8,538,903. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.37 and a current ratio of 0.37. VEREIT has a fifty-two week low of $7.44 and a fifty-two week high of $9.12. The company has a market capitalization of $7,667.17, a price-to-earnings ratio of 10.78 and a beta of 0.73.

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

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in VEREIT by 1.4% during the second quarter. BlackRock Inc. now owns 77,878,258 shares of the financial services provider’s stock worth $633,927,000 after buying an additional 1,087,580 shares during the last quarter. Cbre Clarion Securities LLC increased its holdings in VEREIT by 5.4% during the second quarter. Cbre Clarion Securities LLC now owns 38,947,554 shares of the financial services provider’s stock worth $317,033,000 after buying an additional 2,004,074 shares during the last quarter. CI Investments Inc. increased its holdings in VEREIT by 0.9% during the second quarter. CI Investments Inc. now owns 24,529,315 shares of the financial services provider’s stock worth $199,669,000 after buying an additional 220,300 shares during the last quarter. Glenview Capital Management LLC increased its holdings in VEREIT by 5.9% during the second quarter. Glenview Capital Management LLC now owns 17,946,243 shares of the financial services provider’s stock worth $146,082,000 after buying an additional 1,000,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in VEREIT by 2.8% during the third quarter. Dimensional Fund Advisors LP now owns 13,942,160 shares of the financial services provider’s stock worth $115,581,000 after buying an additional 375,844 shares during the last quarter. Institutional investors own 85.28% of the company’s stock.

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About VEREIT

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.

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