Paragon Capital Management Ltd bought a new position in shares of VEREIT Inc. (NYSE:VER) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 30,322 shares of the financial services provider’s stock, valued at approximately $251,000.
Several other hedge funds have also modified their holdings of VER. WINTON GROUP Ltd bought a new position in VEREIT in the second quarter valued at $100,000. Strid Group LLC bought a new position in shares of VEREIT during the second quarter valued at about $105,000. Sheaff Brock Investment Advisors LLC grew its stake in shares of VEREIT by 26.8% during the second quarter. Sheaff Brock Investment Advisors LLC now owns 14,033 shares of the financial services provider’s stock valued at $114,000 after buying an additional 2,969 shares during the last quarter. IBM Retirement Fund grew its stake in shares of VEREIT by 31.3% during the second quarter. IBM Retirement Fund now owns 14,253 shares of the financial services provider’s stock valued at $116,000 after buying an additional 3,395 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC bought a new position in shares of VEREIT during the third quarter valued at about $117,000. Institutional investors own 84.87% of the company’s stock.
A number of research firms have recently weighed in on VER. Zacks Investment Research upgraded shares of VEREIT from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a report on Wednesday, July 19th. BidaskClub lowered shares of VEREIT from a “hold” rating to a “sell” rating in a report on Friday, July 28th. ValuEngine upgraded shares of VEREIT from a “hold” rating to a “buy” rating in a report on Friday, October 6th. Finally, Stifel Nicolaus reiterated a “hold” rating on shares of VEREIT in a report on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $9.81.
Shares of VEREIT Inc. (VER) traded up $0.02 during mid-day trading on Tuesday, hitting $8.23. 4,406,400 shares of the stock were exchanged, compared to its average volume of 8,479,059. VEREIT Inc. has a 12-month low of $7.44 and a 12-month high of $9.12. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market cap of $8,000.00, a P/E ratio of 11.25 and a beta of 0.76.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a dividend of $0.138 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 6.71%. The ex-dividend date is Thursday, December 28th. VEREIT’s payout ratio is -423.08%.
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VEREIT, Inc is a full-service real estate operating company. The Company operates through two business segments: real estate investment (REI) segment and investment management segment, Cole Capital. As of December 31, 2016, through its REI segment, the Company owned and managed a portfolio of 4,142 retail, restaurant, office and industrial real estate properties with an aggregate of 93.3 million square feet, which are located in 49 states, Puerto Rico and Canada.
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