Vereit Inc (NYSE:VER) Short Interest Down 25.1% in April

Vereit Inc (NYSE:VER) was the recipient of a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 24,956,590 shares, a decline of 25.1% from the March 29th total of 33,332,311 shares. Based on an average daily volume of 8,027,982 shares, the days-to-cover ratio is currently 3.1 days. Currently, 2.6% of the company’s stock are short sold.

NYSE:VER traded down $0.01 during mid-day trading on Friday, hitting $8.66. 5,953,554 shares of the company traded hands, compared to its average volume of 7,756,273. The firm has a market capitalization of $8.39 billion, a PE ratio of 12.03, a P/E/G ratio of 1.06 and a beta of 0.66. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.73 and a current ratio of 0.73. Vereit has a one year low of $6.78 and a one year high of $8.71.

Vereit (NYSE:VER) last released its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The firm 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 quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.18 earnings per share. Equities analysts forecast that Vereit will post 0.69 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.138 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 6.37%. Vereit’s dividend payout ratio is currently 76.39%.

Several research firms have recently weighed in on VER. Zacks Investment Research cut Vereit from a “hold” rating to a “sell” rating in a research note on Tuesday, March 12th. ValuEngine cut Vereit from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, Robert W. Baird cut Vereit from an “outperform” rating to a “neutral” rating and set a $9.00 price objective for the company. in a research report on Monday, February 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Vereit presently has an average rating of “Hold” and an average target price of $8.63.

Several large investors have recently bought and sold shares of the stock. Cohen & Steers Inc. lifted its position in shares of Vereit by 47.7% in the fourth quarter. Cohen & Steers Inc. now owns 97,577,315 shares of the financial services provider’s stock worth $697,678,000 after buying an additional 31,505,146 shares in the last quarter. BlackRock Inc. raised its position in Vereit by 1.5% during the first quarter. BlackRock Inc. now owns 85,218,578 shares of the financial services provider’s stock valued at $713,279,000 after purchasing an additional 1,286,013 shares during the period. FMR LLC raised its position in Vereit by 0.7% during the first quarter. FMR LLC now owns 39,146,376 shares of the financial services provider’s stock valued at $327,655,000 after purchasing an additional 284,865 shares during the period. LSV Asset Management raised its position in Vereit by 4.3% during the first quarter. LSV Asset Management now owns 25,459,794 shares of the financial services provider’s stock valued at $213,098,000 after purchasing an additional 1,058,300 shares during the period. Finally, PGGM Investments raised its position in Vereit by 13.3% during the fourth quarter. PGGM Investments now owns 24,362,611 shares of the financial services provider’s stock valued at $174,193,000 after purchasing an additional 2,860,000 shares during the period. Institutional investors own 93.29% of the company’s stock.

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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 a total asset book value of $14.0 billion including approximately 4,000 properties and 95.0 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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