Vereit Inc (VER) Position Lowered by California State Teachers Retirement System

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California State Teachers Retirement System lowered its stake in Vereit Inc (NYSE:VER) by 3.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,646,564 shares of the financial services provider’s stock after selling 54,086 shares during the period. California State Teachers Retirement System owned approximately 0.17% of Vereit worth $11,460,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Arizona State Retirement System increased its position in shares of Vereit by 9.2% in the fourth quarter. Arizona State Retirement System now owns 506,290 shares of the financial services provider’s stock worth $3,944,000 after purchasing an additional 42,806 shares during the period. Jefferies Group LLC increased its position in shares of Vereit by 45.1% in the fourth quarter. Jefferies Group LLC now owns 51,000 shares of the financial services provider’s stock worth $397,000 after purchasing an additional 15,860 shares during the period. BlackRock Inc. increased its position in shares of Vereit by 2.1% in the fourth quarter. BlackRock Inc. now owns 81,356,788 shares of the financial services provider’s stock worth $633,771,000 after purchasing an additional 1,637,128 shares during the period. Neuberger Berman Group LLC increased its position in shares of Vereit by 19.1% in the first quarter. Neuberger Berman Group LLC now owns 360,868 shares of the financial services provider’s stock worth $2,523,000 after purchasing an additional 57,867 shares during the period. Finally, Financial Gravity Companies Inc. bought a new position in shares of Vereit in the fourth quarter worth $105,000. Institutional investors own 84.93% of the company’s stock.

Vereit stock opened at $7.50 on Tuesday. Vereit Inc has a 12-month low of $6.52 and a 12-month high of $8.75. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $7.30 billion, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 4.36 and a beta of 0.57.

Vereit (NYSE:VER) last released its earnings results on Friday, May 4th. The financial services provider reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.17). Vereit had a net margin of 3.78% and a return on equity of 0.94%. The business had revenue of $290.60 million during the quarter, compared to the consensus estimate of $299.80 million. During the same quarter in the prior year, the firm earned $0.19 EPS. The business’s revenue was down 1.2% on a year-over-year basis. equities analysts anticipate that Vereit Inc will post 0.7 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Friday, June 29th will be given a $0.138 dividend. This represents a $0.55 dividend on an annualized basis and a yield of 7.36%. The ex-dividend date is Thursday, June 28th. Vereit’s dividend payout ratio is presently 78.57%.

A number of research analysts recently commented on the company. Evercore ISI restated an “in-line” rating on shares of Vereit in a research report on Friday, June 1st. Zacks Investment Research upgraded Vereit from a “sell” rating to a “hold” rating in a research report on Wednesday, May 30th. ValuEngine cut Vereit from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Finally, Mizuho restated a “hold” rating and issued a $7.00 price target 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 given a hold rating and one has issued a buy rating to the stock. Vereit has an average rating of “Hold” and a consensus target price of $8.42.

About Vereit

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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Institutional Ownership by Quarter for Vereit (NYSE:VER)

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