Vereit Inc (NYSE:VER) announced a quarterly dividend on Monday, May 6th, Zacks reports. Stockholders of record on Friday, June 28th will be given 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 dividend yield of 5.89%. The ex-dividend date of this dividend is Thursday, June 27th.
Vereit has increased its dividend payment 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 decline. Equities research 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%.
Shares of VER stock traded down $0.04 during trading on Tuesday, hitting $9.37. 164,991 shares of the stock traded hands, compared to its average volume of 13,151,782. The company 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. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.73 and a quick ratio of 0.73. The firm’s fifty day moving average price is $8.88. Vereit has a 52-week low of $6.88 and a 52-week high of $9.72.
Vereit (NYSE:VER) last announced its earnings results on Wednesday, May 8th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $316.84 million for the quarter, compared to analyst estimates of $307.92 million. Vereit had a negative return on equity of 0.65% and a negative net margin of 3.83%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.18 earnings per share. On average, equities analysts forecast that Vereit will post 0.69 earnings per share for the current year.
Several equities analysts have commented on VER shares. Bank of America upgraded shares of Vereit from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $8.00 to $10.50 in a research note on Tuesday, June 11th. Robert W. Baird downgraded shares of Vereit from an “outperform” rating to a “neutral” rating and set a $9.00 target price for the company. in a research note on Monday, February 25th. ValuEngine downgraded shares of Vereit from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Finally, Zacks Investment Research downgraded shares of Vereit from a “hold” rating to a “sell” rating in a research note on Tuesday, March 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target 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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