Parametric Portfolio Associates LLC boosted its position in shares of Vereit Inc (NYSE:VER) by 3.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 6,697,771 shares of the financial services provider’s stock after buying an additional 238,118 shares during the period. Parametric Portfolio Associates LLC’s holdings in Vereit were worth $60,347,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VER. Russell Investments Group Ltd. increased its holdings in shares of Vereit by 60.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,928,782 shares of the financial services provider’s stock valued at $71,088,000 after acquiring an additional 2,974,832 shares during the period. LSV Asset Management increased its holdings in shares of Vereit by 6.9% in the 2nd quarter. LSV Asset Management now owns 27,203,794 shares of the financial services provider’s stock valued at $245,106,000 after acquiring an additional 1,744,000 shares during the period. Amundi Pioneer Asset Management Inc. increased its holdings in shares of Vereit by 112.3% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 2,821,366 shares of the financial services provider’s stock valued at $23,614,000 after acquiring an additional 1,492,285 shares during the period. BlackRock Inc. increased its holdings in shares of Vereit by 1.5% in the 1st quarter. BlackRock Inc. now owns 85,218,578 shares of the financial services provider’s stock valued at $713,279,000 after acquiring an additional 1,286,013 shares during the period. Finally, Cypress Capital Management LLC purchased a new position in shares of Vereit in the 2nd quarter valued at $8,032,000. Institutional investors own 93.35% of the company’s stock.
Shares of Vereit stock traded down $0.19 during trading on Friday, reaching $9.58. The company’s stock had a trading volume of 11,253,733 shares, compared to its average volume of 9,739,099. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.75. The company has a market cap of $9.39 billion, a price-to-earnings ratio of 13.31, a P/E/G ratio of 1.24 and a beta of 0.53. Vereit Inc has a 1-year low of $6.88 and a 1-year high of $9.94. The company has a 50-day simple moving average of $9.50 and a two-hundred day simple moving average of $8.83.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.138 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.76%. Vereit’s payout ratio is 76.39%.
A number of research analysts have recently issued reports on VER shares. Evercore ISI set a $9.00 price target on Vereit and gave the company a “hold” rating in a report on Wednesday, August 7th. Morgan Stanley started coverage on Vereit in a report on Monday, August 5th. They issued an “equal weight” rating and a $9.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on Vereit from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Zacks Investment Research upgraded Vereit from a “sell” rating to a “hold” rating in a report on Wednesday, August 14th. Finally, Bank of America upgraded Vereit from an “underperform” rating to a “buy” rating and lifted their price target for the company from $8.00 to $10.50 in a report on Tuesday, June 11th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Vereit presently has an average rating of “Hold” and a consensus price target of $9.57.
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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