Vereit Inc (NYSE:VER) Expected to Announce Quarterly Sales of $313.83 Million

Analysts expect Vereit Inc (NYSE:VER) to announce sales of $313.83 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Vereit’s earnings. The highest sales estimate is $317.48 million and the lowest is $311.68 million. Vereit posted sales of $290.64 million during the same quarter last year, which would indicate a positive year over year growth rate of 8%. The firm is scheduled to issue its next earnings results on Friday, August 2nd.

On average, analysts expect that Vereit will report full year sales of $1.26 billion for the current financial year, with estimates ranging from $1.24 billion to $1.27 billion. For the next year, analysts expect that the company will report sales of $1.25 billion, with estimates ranging from $1.20 billion to $1.28 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Vereit.

Vereit (NYSE:VER) last issued its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The company 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 company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.18 earnings per share.

VER has been the topic of several recent research reports. ValuEngine upgraded Vereit from a “hold” rating to a “buy” rating in a report on Thursday, May 23rd. Zacks Investment Research lowered Vereit from a “hold” rating to a “sell” rating in a research report on Tuesday, March 12th. Finally, Bank of America raised Vereit from an “underperform” rating to a “buy” rating and raised their price target for the stock from $8.00 to $10.50 in a research report on Tuesday, June 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $9.00.

Shares of NYSE:VER opened at $9.01 on Friday. The company has a fifty day moving average of $8.94. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $8.70 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 0.99 and a beta of 0.54. Vereit has a fifty-two week low of $6.88 and a fifty-two week high of $9.72.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.138 dividend. The ex-dividend date is Thursday, June 27th. This represents a $0.55 annualized dividend and a yield of 6.13%. Vereit’s dividend payout ratio is presently 76.39%.

Institutional investors have recently bought and sold shares of the company. Great West Life Assurance Co. Can increased its stake in Vereit by 2.3% during the 4th quarter. Great West Life Assurance Co. Can now owns 628,130 shares of the financial services provider’s stock worth $4,313,000 after buying an additional 14,113 shares during the period. Moors & Cabot Inc. raised its position in Vereit by 100.0% in the 1st quarter. Moors & Cabot Inc. now owns 29,958 shares of the financial services provider’s stock valued at $252,000 after purchasing an additional 14,979 shares during the last quarter. Park Avenue Securities LLC purchased a new stake in Vereit in the 1st quarter valued at $157,000. Hsbc Holdings PLC raised its position in Vereit by 178.3% in the 4th quarter. Hsbc Holdings PLC now owns 6,688,226 shares of the financial services provider’s stock valued at $47,820,000 after purchasing an additional 4,284,990 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Vereit by 7.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,177,728 shares of the financial services provider’s stock worth $15,571,000 after buying an additional 143,672 shares during the last quarter. 91.38% of the stock is owned by institutional investors.

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 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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Earnings History and Estimates for Vereit (NYSE:VER)

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