BMO Capital Markets set a $10.00 target price on Vereit Inc (NYSE:VER) in a research note published on Wednesday morning. The brokerage currently has a buy rating on the financial services provider’s stock.

VER has been the subject of a number of other reports. Zacks Investment Research upgraded Vereit from a sell rating to a hold rating and set a $9.50 target price for the company in a report on Tuesday, February 7th. JPMorgan Chase & Co. reiterated a hold rating and issued a $11.00 target price on shares of Vereit in a report on Wednesday, November 30th. Bank of America Corp downgraded Vereit from a neutral rating to an underperform rating in a report on Monday, December 5th. Finally, JMP Securities upgraded Vereit from a market perform rating to an outperform rating in a report on Monday, January 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $10.00.

Vereit (NYSE:VER) opened at 8.88 on Wednesday. The company’s 50-day moving average is $8.59 and its 200 day moving average is $8.73. Vereit has a 12 month low of $7.99 and a 12 month high of $11.09. The company’s market cap is $8.65 billion.

Vereit (NYSE:VER) last issued its quarterly earnings results on Thursday, February 23rd. The financial services provider reported $0.17 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.18. The company had revenue of $351.87 million for the quarter, compared to analysts’ expectations of $309.69 million. Vereit had a negative return on equity of 3.12% and a negative net margin of 18.02%. Vereit’s revenue was down 8.2% on a year-over-year basis. During the same quarter last year, the business earned $0.20 earnings per share. Equities analysts forecast that Vereit will post $0.03 earnings per share for the current fiscal year.

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The company also recently declared a dividend, which was paid on Monday, April 17th. Stockholders of record on Friday, March 31st were given a dividend of $0.138 per share. The ex-dividend date was Wednesday, March 29th. This is a boost from Vereit’s previous dividend of $0.08. Vereit’s dividend payout ratio is currently -141.02%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA boosted its position in shares of Vereit by 3.3% in the third quarter. BNP Paribas Arbitrage SA now owns 278,086 shares of the financial services provider’s stock worth $2,884,000 after buying an additional 8,978 shares in the last quarter. British Columbia Investment Management Corp boosted its position in shares of Vereit by 138.5% in the third quarter. British Columbia Investment Management Corp now owns 669,716 shares of the financial services provider’s stock worth $6,945,000 after buying an additional 388,927 shares in the last quarter. Eagle Asset Management Inc. purchased a new position in shares of Vereit during the third quarter worth approximately $2,653,000. Nisa Investment Advisors LLC boosted its position in shares of Vereit by 208.3% in the third quarter. Nisa Investment Advisors LLC now owns 14,800 shares of the financial services provider’s stock worth $153,000 after buying an additional 10,000 shares in the last quarter. Finally, MSI Financial Services Inc boosted its position in shares of Vereit by 12.7% in the third quarter. MSI Financial Services Inc now owns 68,093 shares of the financial services provider’s stock worth $706,000 after buying an additional 7,683 shares in the last quarter. 82.54% of the stock is currently owned by hedge funds and other institutional investors.

About Vereit

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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