Dupont Capital Management Corp decreased its position in VEREIT, Inc. (NYSE:VER) by 37.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 158,588 shares of the financial services provider’s stock after selling 94,904 shares during the quarter. Dupont Capital Management Corp’s holdings in VEREIT were worth $1,031,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Tarbox Family Office Inc. bought a new stake in VEREIT in the 2nd quarter worth approximately $54,000. Signaturefd LLC increased its position in shares of VEREIT by 180.8% during the 2nd quarter. Signaturefd LLC now owns 9,815 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 6,320 shares during the last quarter. MANA Advisors LLC bought a new position in shares of VEREIT during the 2nd quarter valued at approximately $68,000. Dalton Greiner Hartman Maher & Co. bought a new position in shares of VEREIT during the 3rd quarter valued at approximately $71,000. Finally, Baird Financial Group Inc. bought a new position in shares of VEREIT during the 2nd quarter valued at approximately $70,000. 94.51% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on VER shares. ValuEngine raised VEREIT from a “sell” rating to a “hold” rating in a research report on Tuesday. Berenberg Bank began coverage on VEREIT in a research report on Friday, July 10th. They set a “hold” rating and a $6.75 target price on the stock. BMO Capital Markets reaffirmed a “buy” rating and issued a $8.00 price objective on shares of VEREIT in a research report on Thursday, August 6th. Morgan Stanley upped their price objective on VEREIT from $5.80 to $6.25 and gave the company an “equal weight” rating in a research report on Friday, August 21st. Finally, Bank of America raised VEREIT from a “neutral” rating to a “buy” rating in a research report on Monday, August 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $7.58.
VEREIT stock opened at $6.56 on Thursday. The firm has a market cap of $7.07 billion, a price-to-earnings ratio of -10.93 and a beta of 1.01. VEREIT, Inc. has a 52 week low of $3.56 and a 52 week high of $10.18. The business’s 50-day moving average price is $6.63 and its 200 day moving average price is $6.27. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.86.
VEREIT (NYSE:VER) last posted its earnings results on Thursday, August 6th. The financial services provider reported $0.04 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.11). The company had revenue of $278.60 million for the quarter, compared to analyst estimates of $278.29 million. VEREIT had a negative return on equity of 7.49% and a negative net margin of 43.35%. The firm’s revenue was down 10.7% on a year-over-year basis. During the same period last year, the business earned $0.18 earnings per share. Equities analysts expect that VEREIT, Inc. will post 0.61 EPS for the current year.
In related news, CEO Glenn J. Rufrano bought 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 23rd. The shares were purchased at an average cost of $6.33 per share, with a total value of $253,200.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,279,252 shares in the company, valued at $20,757,665.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is owned by company insiders.
VEREIT Company Profile
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 total real estate investments of $14.7 billion including approximately 3,800 properties and 88.9 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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