Swiss National Bank decreased its holdings in shares of VEREIT (NYSE:VER) by 13.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,114,281 shares of the financial services provider’s stock after selling 475,400 shares during the period. Swiss National Bank owned 0.32% of VEREIT worth $21,675,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in VER. Long Pond Capital LP increased its stake in shares of VEREIT by 538.8% during the fourth quarter. Long Pond Capital LP now owns 17,691,863 shares of the financial services provider’s stock valued at $137,820,000 after purchasing an additional 14,922,313 shares in the last quarter. Sasco Capital Inc. CT purchased a new stake in shares of VEREIT during the fourth quarter valued at approximately $27,956,000. Renaissance Technologies LLC purchased a new stake in shares of VEREIT during the fourth quarter valued at approximately $22,159,000. American Century Companies Inc. grew its holdings in shares of VEREIT by 1,317.0% during the first quarter. American Century Companies Inc. now owns 2,850,594 shares of the financial services provider’s stock valued at $19,840,000 after buying an additional 2,649,421 shares during the last quarter. Finally, LSV Asset Management grew its holdings in shares of VEREIT by 15.7% during the fourth quarter. LSV Asset Management now owns 17,843,400 shares of the financial services provider’s stock valued at $139,000,000 after buying an additional 2,426,331 shares during the last quarter. 89.60% of the stock is owned by institutional investors and hedge funds.
NYSE:VER opened at $6.86 on Friday. VEREIT has a 52 week low of $6.52 and a 52 week high of $8.75. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.35 and a current ratio of 0.35. The company has a market cap of $6.66 billion, a PE ratio of 9.80 and a beta of 0.54.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Friday, June 29th will be issued a $0.138 dividend. This represents a $0.55 annualized dividend and a yield of 8.05%. The ex-dividend date of this dividend is Thursday, June 28th. VEREIT’s dividend payout ratio is currently 78.57%.
A number of research firms have recently commented on VER. ValuEngine cut shares of VEREIT from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research upgraded shares of VEREIT from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. JMP Securities cut their price target on shares of VEREIT from $9.50 to $9.00 and set a “market outperform” rating on the stock in a report on Friday, February 23rd. Finally, Mizuho reiterated a “hold” rating and set a $7.00 price target on shares of VEREIT in a report on Friday, March 2nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $8.42.
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 a total asset book value of $14.7 billion including approximately 4,100 properties and 94.4 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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