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.
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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