Whittier Trust Co. boosted its holdings in Vereit Inc (NYSE:VER) by 2,228.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,033 shares of the financial services provider’s stock after purchasing an additional 8,645 shares during the quarter. Whittier Trust Co.’s holdings in Vereit were worth $81,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in VER. BlackRock Inc. increased its holdings in shares of Vereit by 1.5% in the 1st quarter. BlackRock Inc. now owns 85,218,578 shares of the financial services provider’s stock valued at $713,279,000 after purchasing an additional 1,286,013 shares in the last quarter. FMR LLC increased its holdings in shares of Vereit by 0.7% in the 1st quarter. FMR LLC now owns 39,146,376 shares of the financial services provider’s stock valued at $327,655,000 after purchasing an additional 284,865 shares in the last quarter. LSV Asset Management increased its holdings in shares of Vereit by 4.3% in the 1st quarter. LSV Asset Management now owns 25,459,794 shares of the financial services provider’s stock valued at $213,098,000 after purchasing an additional 1,058,300 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Vereit by 6.6% in the 4th quarter. Geode Capital Management LLC now owns 9,374,117 shares of the financial services provider’s stock valued at $66,980,000 after purchasing an additional 581,958 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its holdings in shares of Vereit by 26.4% in the 1st quarter. Parametric Portfolio Associates LLC now owns 6,459,653 shares of the financial services provider’s stock valued at $54,067,000 after purchasing an additional 1,349,695 shares in the last quarter. Hedge funds and other institutional investors own 91.73% of the company’s stock.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Vereit from a “buy” rating to a “hold” rating in a report on Saturday, July 20th. ValuEngine downgraded shares of Vereit from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Bank of America upgraded shares of Vereit from an “underperform” rating to a “buy” rating and increased their price target for the company from $8.00 to $10.50 in a report on Tuesday, June 11th. Finally, Morgan Stanley assumed coverage on shares of Vereit in a report on Monday. They issued an “equal weight” rating and a $9.00 price target for the company. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $9.25.
Vereit (NYSE:VER) last issued its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. Vereit had a negative net margin of 3.83% and a negative return on equity of 0.65%. The firm had revenue of $316.84 million for the quarter, compared to analysts’ expectations of $307.92 million. During the same period in the prior year, the company earned $0.18 EPS. The firm’s revenue was up .6% on a year-over-year basis. As a group, equities research analysts forecast that Vereit Inc will post 0.69 earnings per share for the current year.
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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