Vereit (NYSE:VER) Posts Quarterly Earnings Results, Misses Estimates By $0.93 EPS

Vereit (NYSE:VER) posted its earnings results on Wednesday. The financial services provider reported ($0.76) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.93), Fidelity Earnings reports. The company had revenue of $302.99 million for the quarter, compared to the consensus estimate of $306.69 million. Vereit had a net margin of 24.69% and a return on equity of 4.23%. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the company posted $0.18 earnings per share. Vereit updated its FY19 guidance to $0.68-0.70 EPS.

VER stock remained flat at $$9.36 on Thursday. The company had a trading volume of 14,088,256 shares, compared to its average volume of 10,411,724. Vereit has a 1-year low of $6.95 and a 1-year high of $10.13. The company has a market capitalization of $9.15 billion, a P/E ratio of 13.00, a P/E/G ratio of 1.40 and a beta of 0.57. The business has a 50 day simple moving average of $9.78 and a two-hundred day simple moving average of $9.26. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.10 and a quick ratio of 1.10.

VER has been the subject of several recent research reports. JPMorgan Chase & Co. upped their target price on Vereit from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. TheStreet raised Vereit from a “c” rating to a “b-” rating in a report on Friday, August 9th. BMO Capital Markets initiated coverage on Vereit in a report on Friday, October 25th. They set an “outperform” rating and a $11.00 target price for the company. Zacks Investment Research lowered Vereit from a “hold” rating to a “sell” rating in a report on Sunday. Finally, Evercore ISI set a $9.00 target price on Vereit and gave the company a “hold” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $9.94.

In related news, insider Thomas W. Roberts sold 25,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $9.87, for a total value of $246,750.00. Following the completion of the transaction, the insider now directly owns 433,478 shares of the company’s stock, valued at approximately $4,278,427.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.22% of the company’s stock.

About Vereit

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 for Vereit (NYSE:VER)

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