Vereit (NYSE:VER) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.68-0.70 for the period.
VER traded down $0.05 during trading on Friday, reaching $9.71. The company had a trading volume of 9,348,728 shares, compared to its average volume of 9,731,842. The company has a 50-day moving average of $9.15. The firm has a market capitalization of $9.38 billion, a P/E ratio of 13.49, a price-to-earnings-growth ratio of 1.22 and a beta of 0.55. Vereit has a 12-month low of $6.88 and a 12-month high of $9.77. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.81.
Vereit (NYSE:VER) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.10. The firm had revenue of $312.10 million for the quarter, compared to analysts’ expectations of $314.95 million. Vereit had a return on equity of 4.24% and a net margin of 24.69%. Vereit’s revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the business posted $0.18 EPS. Analysts anticipate that Vereit will post 0.69 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.138 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.55 dividend on an annualized basis and a yield of 5.68%. Vereit’s dividend payout ratio is currently 76.39%.
A number of equities analysts recently weighed in on VER shares. Evercore ISI set a $9.00 price target on Vereit and gave the stock a hold rating in a research note on Wednesday. ValuEngine cut Vereit from a buy rating to a hold rating in a research note on Friday, July 19th. Zacks Investment Research raised Vereit from a sell rating to a hold rating in a research note on Thursday. Bank of America raised Vereit from an underperform rating to a buy rating and lifted their price target for the stock from $8.00 to $10.50 in a research note on Tuesday, June 11th. Finally, Morgan Stanley initiated coverage on Vereit in a research note on Monday, August 5th. They issued an equal weight rating and a $9.00 price target on the stock. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Vereit currently has an average rating of Hold and an average price target of $9.21.
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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