Meeder Asset Management Inc. grew its holdings in shares of VEREIT Inc. (NYSE:VER) by 81.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 52,337 shares of the financial services provider’s stock after purchasing an additional 23,423 shares during the quarter. Meeder Asset Management Inc.’s holdings in VEREIT were worth $434,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. WINTON GROUP Ltd acquired a new stake in VEREIT in the 2nd quarter valued at $100,000. Strid Group LLC acquired a new stake in VEREIT in the 2nd quarter valued at $105,000. Sheaff Brock Investment Advisors LLC increased its holdings in VEREIT by 26.8% in the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 14,033 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 2,969 shares in the last quarter. IBM Retirement Fund increased its holdings in VEREIT by 31.3% in the 2nd quarter. IBM Retirement Fund now owns 14,253 shares of the financial services provider’s stock valued at $116,000 after purchasing an additional 3,395 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC acquired a new stake in VEREIT in the 3rd quarter valued at $117,000. Institutional investors and hedge funds own 85.03% of the company’s stock.
Several analysts recently issued reports on the company. Zacks Investment Research raised shares of VEREIT from a “sell” rating to a “hold” rating in a research report on Saturday. Stifel Nicolaus reaffirmed a “hold” rating on shares of VEREIT in a research report on Wednesday, November 1st. ValuEngine raised shares of VEREIT from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. Finally, BidaskClub cut shares of VEREIT from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $9.88.
VEREIT Inc. (NYSE VER) traded up $0.04 during midday trading on Friday, hitting $8.21. 7,099,500 shares of the company were exchanged, compared to its average volume of 10,715,874. VEREIT Inc. has a fifty-two week low of $7.44 and a fifty-two week high of $9.12. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $7,998.41, a price-to-earnings ratio of 11.25 and a beta of 0.74.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be given a $0.138 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.55 annualized dividend and a yield of 6.72%. VEREIT’s dividend payout ratio (DPR) is -549.95%.
VEREIT Company Profile
VEREIT, Inc is a full-service real estate operating company. The Company operates through two business segments: real estate investment (REI) segment and investment management segment, Cole Capital. As of December 31, 2016, through its REI segment, the Company owned and managed a portfolio of 4,142 retail, restaurant, office and industrial real estate properties with an aggregate of 93.3 million square feet, which are located in 49 states, Puerto Rico and Canada.
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