Swiss National Bank lessened its stake in Vereit Inc (NYSE:VER) by 2.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,149,081 shares of the financial services provider’s stock after selling 77,500 shares during the quarter. Swiss National Bank owned 0.32% of Vereit worth $28,373,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. lifted 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 buying an additional 1,286,013 shares during the period. FMR LLC lifted 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 buying an additional 284,865 shares during the period. LSV Asset Management raised its holdings in Vereit by 4.3% in the 1st quarter. LSV Asset Management now owns 25,459,794 shares of the financial services provider’s stock worth $213,098,000 after purchasing an additional 1,058,300 shares during the period. Geode Capital Management LLC raised its holdings in 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 worth $66,980,000 after purchasing an additional 581,958 shares during the period. Finally, Parametric Portfolio Associates LLC raised its holdings in 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 worth $54,067,000 after purchasing an additional 1,349,695 shares during the period. 89.68% of the stock is owned by institutional investors and hedge funds.
NYSE VER opened at $9.58 on Thursday. The stock has a market capitalization of $9.39 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 1.24 and a beta of 0.55. Vereit Inc has a twelve month low of $6.88 and a twelve month high of $9.77. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.75. The stock has a 50-day moving average of $9.25 and a 200 day moving average of $8.67.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.138 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.55 annualized dividend and a yield of 5.76%. Vereit’s dividend payout ratio (DPR) is currently 76.39%.
A number of equities analysts recently weighed in on VER shares. ValuEngine cut Vereit from a “buy” rating to a “hold” rating in a report on Friday, July 19th. TheStreet raised Vereit from a “c” rating to a “b-” rating in a report on Friday, August 9th. Morgan Stanley started coverage on Vereit in a report on Monday, August 5th. They issued an “equal weight” rating and a $9.00 price target for the company. Zacks Investment Research raised Vereit from a “sell” rating to a “hold” rating in a report on Wednesday, August 14th. Finally, Bank of America raised Vereit from an “underperform” rating to a “buy” rating and upped their price target for the stock from $8.00 to $10.50 in a report on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Vereit has an average rating of “Hold” and a consensus price target of $9.42.
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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