Vereit (NYSE:VER) Updates FY 2019 Earnings Guidance

Vereit (NYSE:VER) updated its FY 2019 earnings guidance on Wednesday. The company provided earnings per share guidance of $0.68-0.70 for the period.

A number of research firms have recently commented on VER. Morgan Stanley began coverage on shares of Vereit in a report on Monday, August 5th. They issued an equal weight rating and a $9.00 price target on the stock. Evercore ISI set a $9.00 price target on shares of Vereit and gave the stock a hold rating in a report on Wednesday. Zacks Investment Research upgraded shares of Vereit from a sell rating to a hold rating in a report on Thursday. Bank of America upgraded shares of Vereit from an underperform rating to a buy rating and upped their price target for the stock from $8.00 to $10.50 in a report on Tuesday, June 11th. Finally, ValuEngine cut shares of Vereit from a buy rating to a hold rating in a report on Friday, July 19th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $9.21.

NYSE:VER traded down $0.05 during mid-day trading on Friday, reaching $9.71. The company’s stock had a trading volume of 9,348,728 shares, compared to its average volume of 9,731,842. Vereit has a 1 year low of $6.88 and a 1 year high of $9.77. The business’s fifty day simple moving average is $9.15. The stock has a market capitalization of $9.38 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 1.22 and a beta of 0.55. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.73 and a quick ratio of 0.73.

Vereit (NYSE:VER) last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.10. Vereit had a net margin of 24.69% and a return on equity of 4.24%. The company had revenue of $312.10 million during the quarter, compared to analyst estimates of $314.95 million. During the same period in the prior year, the firm earned $0.18 earnings per share. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, equities analysts forecast that Vereit will post 0.69 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.138 dividend. This represents a $0.55 dividend on an annualized basis and a yield of 5.68%. The ex-dividend date is Friday, September 27th. Vereit’s dividend payout ratio (DPR) is presently 76.39%.

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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Earnings History and Estimates for Vereit (NYSE:VER)

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