Land & Buildings Investment Management LLC reduced its position in VEREIT, Inc. (NYSE:VER) by 36.2% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 382,394 shares of the financial services provider’s stock after selling 216,660 shares during the period. VEREIT makes up approximately 3.1% of Land & Buildings Investment Management LLC’s holdings, making the stock its 14th largest holding. Land & Buildings Investment Management LLC’s holdings in VEREIT were worth $14,768,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Signaturefd LLC raised its stake in shares of VEREIT by 11.0% during the 1st quarter. Signaturefd LLC now owns 2,357 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 234 shares during the period. Mid Atlantic Financial Management Inc. ADV boosted its stake in VEREIT by 2.8% during the first quarter. Mid Atlantic Financial Management Inc. ADV now owns 8,877 shares of the financial services provider’s stock valued at $343,000 after buying an additional 239 shares during the period. Brown Advisory Inc. grew its position in VEREIT by 4.3% during the first quarter. Brown Advisory Inc. now owns 7,300 shares of the financial services provider’s stock worth $282,000 after buying an additional 300 shares in the last quarter. Avantax Advisory Services Inc. increased its stake in VEREIT by 5.4% in the 1st quarter. Avantax Advisory Services Inc. now owns 5,906 shares of the financial services provider’s stock worth $229,000 after acquiring an additional 302 shares during the last quarter. Finally, MML Investors Services LLC raised its holdings in shares of VEREIT by 2.3% in the 1st quarter. MML Investors Services LLC now owns 14,360 shares of the financial services provider’s stock valued at $555,000 after acquiring an additional 319 shares in the last quarter. Institutional investors and hedge funds own 94.87% of the company’s stock.
VEREIT stock traded down $0.26 during trading hours on Thursday, reaching $48.71. The company had a trading volume of 14,572 shares, compared to its average volume of 1,811,600. The stock has a market cap of $11.16 billion, a price-to-earnings ratio of 55.02, a price-to-earnings-growth ratio of 2.39 and a beta of 1.14. VEREIT, Inc. has a 12-month low of $30.05 and a 12-month high of $49.77. The company has a debt-to-equity ratio of 0.83, a quick ratio of 6.01 and a current ratio of 6.01. The stock has a 50-day simple moving average of $47.33.
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 15th. Investors of record on Wednesday, June 30th were paid a $0.462 dividend. The ex-dividend date was Tuesday, June 29th. This represents a $1.85 annualized dividend and a dividend yield of 3.79%. VEREIT’s payout ratio is presently 59.49%.
A number of equities analysts have commented on VER shares. BMO Capital Markets reissued a “market perform” rating and issued a $48.00 price target (up previously from $45.00) on shares of VEREIT in a research note on Thursday, May 13th. Mizuho reissued a “neutral” rating and issued a $48.00 target price on shares of VEREIT in a research note on Thursday, May 6th. Evercore ISI reaffirmed a “hold” rating and set a $45.00 price target on shares of VEREIT in a research note on Sunday, May 9th. Morgan Stanley increased their price objective on VEREIT from $41.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, June 3rd. Finally, Zacks Investment Research upgraded VEREIT from a “sell” rating to a “hold” rating in a research report on Friday, July 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. VEREIT currently has an average rating of “Hold” and an average target price of $45.57.
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 $14.6 billion including approximately 3,800 properties and 88.9 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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