Standard Life Aberdeen plc boosted its position in shares of Vereit Inc (NYSE:VER) by 8.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,344,145 shares of the financial services provider’s stock after purchasing an additional 324,167 shares during the period. Standard Life Aberdeen plc owned approximately 0.41% of Vereit worth $40,139,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Great Lakes Advisors LLC increased its position in shares of Vereit by 254.1% during the 4th quarter. Great Lakes Advisors LLC now owns 175,661 shares of the financial services provider’s stock worth $1,623,000 after purchasing an additional 126,049 shares during the last quarter. Andra AP fonden boosted its position in Vereit by 19.5% in the 4th quarter. Andra AP fonden now owns 858,000 shares of the financial services provider’s stock valued at $7,928,000 after buying an additional 139,800 shares during the period. Voya Investment Management LLC boosted its position in Vereit by 8.4% in the 3rd quarter. Voya Investment Management LLC now owns 187,326 shares of the financial services provider’s stock valued at $1,832,000 after buying an additional 14,532 shares during the period. Bank of Hawaii acquired a new position in shares of Vereit in the third quarter worth $114,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Vereit in the fourth quarter worth $2,970,000. 92.73% of the stock is currently owned by institutional investors.
Shares of NYSE:VER traded down $0.03 during trading on Thursday, hitting $5.04. 24,638,182 shares of the company were exchanged, compared to its average volume of 13,303,763. The firm’s 50 day moving average price is $8.27 and its 200-day moving average price is $9.26. Vereit Inc has a 12-month low of $3.56 and a 12-month high of $10.18. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $5.51 billion, a P/E ratio of -12.92 and a beta of 0.60.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.138 per share. The ex-dividend date is Monday, March 30th. This represents a $0.55 annualized dividend and a dividend yield of 10.95%. Vereit’s payout ratio is currently 79.71%.
Several brokerages have weighed in on VER. ValuEngine raised Vereit from a “sell” rating to a “hold” rating in a research report on Monday, March 9th. Capital One Financial restated an “equal weight” rating on shares of Vereit in a report on Tuesday, February 11th. Finally, Zacks Investment Research cut shares of Vereit from a “hold” rating to a “sell” rating in a research report on Saturday, March 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Vereit currently has an average rating of “Hold” and an average target price of $10.19.
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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