American International Group Inc. bought a new position in shares of Vereit Inc (NYSE:VER) in the 4th quarter, HoldingsChannel.com reports. The fund bought 20,444 shares of the financial services provider’s stock, valued at approximately $159,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. WINTON GROUP Ltd grew its stake in Vereit by 49.8% during the third quarter. WINTON GROUP Ltd now owns 18,378 shares of the financial services provider’s stock worth $152,000 after purchasing an additional 6,113 shares during the period. Alpha Windward LLC grew its stake in Vereit by 12.8% during the fourth quarter. Alpha Windward LLC now owns 67,074 shares of the financial services provider’s stock worth $523,000 after purchasing an additional 7,618 shares during the period. LS Investment Advisors LLC grew its stake in Vereit by 52.0% during the fourth quarter. LS Investment Advisors LLC now owns 23,114 shares of the financial services provider’s stock worth $180,000 after purchasing an additional 7,904 shares during the period. Cutler Capital Management LLC grew its stake in Vereit by 6.9% during the fourth quarter. Cutler Capital Management LLC now owns 128,400 shares of the financial services provider’s stock worth $1,000,000 after purchasing an additional 8,300 shares during the period. Finally, First Republic Investment Management Inc. grew its stake in Vereit by 2.9% during the third quarter. First Republic Investment Management Inc. now owns 383,537 shares of the financial services provider’s stock worth $3,180,000 after purchasing an additional 10,718 shares during the period. 86.17% of the stock is owned by institutional investors and hedge funds.
VER has been the subject of several recent analyst reports. ValuEngine cut Vereit from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Zacks Investment Research lowered Vereit from a “buy” rating to a “hold” rating in a report on Saturday, November 18th. Mizuho reiterated a “hold” rating and issued a $7.00 price target on shares of Vereit in a report on Friday, March 2nd. Finally, JMP Securities cut their price target on Vereit from $9.50 to $9.00 and set a “market outperform” rating on the stock in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $8.85.
Vereit (NYSE:VER) last announced its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. The business had revenue of $316.60 million for the quarter, compared to analyst estimates of $284.78 million. Vereit had a return on equity of 0.75% and a net margin of 2.38%. The company’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 earnings per share. equities analysts expect that Vereit Inc will post 0.72 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 30th will be issued a $0.138 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $0.55 annualized dividend and a yield of 7.83%. Vereit’s payout ratio is currently -2,750.00%.
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Vereit Company Profile
VEREIT, Inc is a full-service real estate operating company. The Company owns and manages a diversified portfolio of retail, restaurant, office and industrial real estate assets. It operates through two segments: real estate investment (REI) segment and its investment management segment, Cole Capital.
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