Vereit Inc (NYSE:VER) to Issue $0.14 Quarterly Dividend

Vereit Inc (NYSE:VER) declared a quarterly dividend on Monday, May 6th, Zacks reports. Shareholders of record on Friday, June 28th will be paid a dividend of 0.138 per share by the financial services provider on Monday, July 15th. This represents a $0.55 annualized dividend and a yield of 5.89%. The ex-dividend date of this dividend is Thursday, June 27th.

Vereit has increased its dividend by an average of 58.7% per year over the last three years. Vereit has a payout ratio of 80.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Vereit to earn $0.70 per share next year, which means the company should continue to be able to cover its $0.55 annual dividend with an expected future payout ratio of 78.6%.

VER traded down $0.04 on Tuesday, hitting $9.37. 164,991 shares of the company were exchanged, compared to its average volume of 13,151,782. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.81. The business has a fifty day moving average price of $8.88. Vereit has a fifty-two week low of $6.88 and a fifty-two week high of $9.72. The firm has a market capitalization of $9.16 billion, a price-to-earnings ratio of 13.02, a P/E/G ratio of 1.05 and a beta of 0.53.

Vereit (NYSE:VER) last issued its earnings results on Wednesday, May 8th. The financial services provider reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. Vereit had a negative net margin of 3.83% and a negative return on equity of 0.65%. The company had revenue of $316.84 million for the quarter, compared to analyst estimates of $307.92 million. During the same period in the prior year, the business posted $0.18 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. On average, sell-side analysts predict that Vereit will post 0.69 earnings per share for the current fiscal year.

Several brokerages have weighed in on VER. Bank of America upgraded shares of Vereit from an “underperform” rating to a “buy” rating and upped their target price for the stock from $8.00 to $10.50 in a research report on Tuesday, June 11th. ValuEngine upgraded shares of Vereit from a “hold” rating to a “buy” rating in a research report on Thursday, May 23rd. Zacks Investment Research lowered shares of Vereit from a “hold” rating to a “sell” rating in a research report on Tuesday, March 12th. Finally, Robert W. Baird lowered shares of Vereit from an “outperform” rating to a “neutral” rating and set a $9.00 price target on the stock. in a research report on Monday, February 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $9.00.

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 $15.6 billion including approximately 4,000 properties and 94.7 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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Dividend History for Vereit (NYSE:VER)

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