Lasalle Investment Management Securities LLC Sells 1,692,292 Shares of Vereit Inc (VER)

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Lasalle Investment Management Securities LLC reduced its position in Vereit Inc (NYSE:VER) by 14.3% in the 4th quarter, HoldingsChannel reports. The fund owned 10,126,614 shares of the financial services provider’s stock after selling 1,692,292 shares during the period. Vereit accounts for 2.0% of Lasalle Investment Management Securities LLC’s portfolio, making the stock its 19th biggest position. Lasalle Investment Management Securities LLC’s holdings in Vereit were worth $72,405,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in VER. First Trust Advisors LP lifted its holdings in shares of Vereit by 8.4% in the 3rd quarter. First Trust Advisors LP now owns 495,416 shares of the financial services provider’s stock worth $3,597,000 after acquiring an additional 38,361 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Vereit by 5.1% in the 3rd quarter. Wells Fargo & Company MN now owns 1,331,597 shares of the financial services provider’s stock worth $9,667,000 after acquiring an additional 64,265 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Vereit by 1.6% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,573,639 shares of the financial services provider’s stock worth $25,945,000 after acquiring an additional 55,233 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Vereit by 3.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 24,334,995 shares of the financial services provider’s stock worth $176,671,000 after acquiring an additional 734,697 shares during the last quarter. Finally, Toronto Dominion Bank lifted its holdings in shares of Vereit by 8.3% in the 3rd quarter. Toronto Dominion Bank now owns 105,186 shares of the financial services provider’s stock worth $763,000 after acquiring an additional 8,084 shares during the last quarter. Hedge funds and other institutional investors own 91.02% of the company’s stock.

NYSE:VER opened at $8.17 on Tuesday. Vereit Inc has a 52 week low of $6.52 and a 52 week high of $8.38. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market cap of $7.96 billion, a P/E ratio of 11.35, a PEG ratio of 1.11 and a beta of 0.67.

Vereit (NYSE:VER) last posted its quarterly earnings results on Thursday, February 21st. The financial services provider reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.16). Vereit had a negative net margin of 6.82% and a negative return on equity of 1.18%. The firm had revenue of $313.26 million for the quarter, compared to the consensus estimate of $288.89 million. During the same quarter in the prior year, the company earned $0.18 earnings per share. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. Equities research analysts expect that Vereit Inc will post 0.7 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be issued a dividend of $0.138 per share. This is a positive change from Vereit’s previous quarterly dividend of $0.14. This represents a $0.55 dividend on an annualized basis and a yield of 6.76%. The ex-dividend date of this dividend is Thursday, March 28th. Vereit’s dividend payout ratio is currently 76.39%.

A number of research firms recently commented on VER. Robert W. Baird lowered shares of Vereit from an “outperform” rating to a “neutral” rating and set a $9.00 price target for the company. in a report on Monday, February 25th. Zacks Investment Research lowered shares of Vereit from a “hold” rating to a “sell” rating in a report on Tuesday, March 12th. Finally, ValuEngine upgraded shares of Vereit from a “hold” rating to a “buy” rating in a report on Monday, February 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Vereit presently has a consensus rating of “Hold” and a consensus price target of $8.63.

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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 $14.0 billion including approximately 4,000 properties and 95.0 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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