New York State Common Retirement Fund decreased its holdings in Vereit Inc (NYSE:VER) by 2.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,100,500 shares of the financial services provider’s stock after selling 58,500 shares during the period. New York State Common Retirement Fund owned about 0.22% of Vereit worth $14,619,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the business. Viridian Ria LLC purchased a new position in shares of Vereit in the 1st quarter worth $102,000. Financial Gravity Companies Inc. purchased a new position in shares of Vereit in the 4th quarter worth $105,000. Sanctuary Wealth Management L.L.C. purchased a new position in shares of Vereit in the 4th quarter worth $109,000. Jump Trading LLC purchased a new position in shares of Vereit in the 4th quarter worth $110,000. Finally, American International Group Inc. purchased a new position in shares of Vereit in the 4th quarter worth $159,000. 84.93% of the stock is owned by institutional investors and hedge funds.
NYSE VER traded down $0.03 on Tuesday, hitting $7.28. 75,618 shares of the company traded hands, compared to its average volume of 8,688,235. The company has a market capitalization of $7.06 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 4.22 and a beta of 0.57. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.35 and a current ratio of 0.35. Vereit Inc has a 52-week low of $6.52 and a 52-week high of $8.75.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Friday, June 29th will be issued a dividend of $0.138 per share. The ex-dividend date is Thursday, June 28th. This represents a $0.55 dividend on an annualized basis and a yield of 7.58%. Vereit’s dividend payout ratio is presently 78.57%.
A number of research firms have recently issued reports on VER. ValuEngine downgraded Vereit from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Zacks Investment Research downgraded Vereit from a “hold” rating to a “sell” rating in a research report on Thursday, May 24th. Evercore ISI reiterated an “in-line” rating on shares of Vereit in a research report on Friday, June 1st. JMP Securities lowered their target price on Vereit from $9.50 to $9.00 and set a “market outperform” rating on the stock in a research report on Friday, February 23rd. Finally, Mizuho reiterated a “hold” rating and set a $7.00 target price on shares of Vereit in a research report on Friday, March 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Vereit 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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