Wellington Management Group LLP lessened its holdings in Vereit Inc (NYSE:VER) by 43.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,297 shares of the financial services provider’s stock after selling 39,035 shares during the quarter. Wellington Management Group LLP’s holdings in Vereit were worth $251,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Cohen & Steers Inc. grew its position in Vereit by 4.9% in the fourth quarter. Cohen & Steers Inc. now owns 92,900,676 shares of the financial services provider’s stock valued at $858,402,000 after purchasing an additional 4,357,437 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Vereit by 4.5% during the 1st quarter. JPMorgan Chase & Co. now owns 35,456,807 shares of the financial services provider’s stock worth $173,383,000 after buying an additional 1,538,288 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Vereit by 28.9% in the 4th quarter. Nuveen Asset Management LLC now owns 20,342,582 shares of the financial services provider’s stock valued at $187,966,000 after acquiring an additional 4,563,282 shares in the last quarter. Centersquare Investment Management LLC grew its holdings in shares of Vereit by 37.8% in the 1st quarter. Centersquare Investment Management LLC now owns 17,347,840 shares of the financial services provider’s stock valued at $84,831,000 after acquiring an additional 4,757,654 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Vereit by 6.5% in the 1st quarter. Legal & General Group Plc now owns 12,465,237 shares of the financial services provider’s stock valued at $60,982,000 after acquiring an additional 763,541 shares in the last quarter. 93.49% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:VER opened at $6.49 on Wednesday. Vereit Inc has a 52-week low of $3.56 and a 52-week high of $10.18. The company has a market capitalization of $7.00 billion, a P/E ratio of -17.54 and a beta of 1.07. The company has a 50-day simple moving average of $5.98 and a 200 day simple moving average of $7.27. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.17 and a current ratio of 2.17.
Vereit (NYSE:VER) last issued its earnings results on Wednesday, May 20th. The financial services provider reported $0.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.09). Vereit had a negative net margin of 23.19% and a negative return on equity of 4.05%. The firm had revenue of $299.20 million during the quarter, compared to analyst estimates of $301.11 million. During the same quarter last year, the business posted $0.18 earnings per share. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, equities analysts forecast that Vereit Inc will post 0.62 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.077 per share. The ex-dividend date of this dividend is Monday, June 29th. This represents a $0.31 annualized dividend and a yield of 4.75%. Vereit’s dividend payout ratio (DPR) is presently 79.71%.
Several equities analysts have recently weighed in on the company. Morgan Stanley decreased their price objective on Vereit from $9.50 to $5.80 and set an “equal weight” rating for the company in a report on Monday, May 4th. ValuEngine cut Vereit from a “hold” rating to a “sell” rating in a report on Thursday, April 2nd. Finally, Zacks Investment Research cut Vereit from a “hold” rating to a “sell” rating in a report on Saturday, March 14th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $9.61.
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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