$0.17 EPS Expected for Vereit Inc (VER) This Quarter
Brokerages forecast that Vereit Inc (NYSE:VER) will report earnings of $0.17 per share for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Vereit’s earnings. The lowest EPS estimate is $0.16 and the highest is $0.19. Vereit reported earnings of $0.18 per share in the same quarter last year, which indicates a negative year over year growth rate of 5.6%. The firm is scheduled to announce its next quarterly earnings results on Friday, August 2nd.
On average, analysts expect that Vereit will report full-year earnings of $0.69 per share for the current fiscal year, with EPS estimates ranging from $0.62 to $0.75. For the next year, analysts forecast that the business will report earnings of $0.69 per share, with EPS estimates ranging from $0.64 to $0.74. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Vereit.
Vereit (NYSE:VER) last posted its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01. Vereit had a negative return on equity of 0.65% and a negative net margin of 3.83%. The firm had revenue of $316.84 million for the quarter, compared to analyst estimates of $307.92 million. During the same quarter last year, the company earned $0.18 EPS. The company’s revenue was up .6% on a year-over-year basis.
A number of institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its stake in shares of Vereit by 7.5% in the 1st quarter. Geode Capital Management LLC now owns 10,077,420 shares of the financial services provider’s stock valued at $84,284,000 after purchasing an additional 703,303 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Vereit by 8.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,610,435 shares of the financial services provider’s stock valued at $38,590,000 after purchasing an additional 365,063 shares during the last quarter. Blueshift Asset Management LLC bought a new position in shares of Vereit in the 1st quarter valued at $1,356,000. Renaissance Technologies LLC increased its stake in shares of Vereit by 211.9% in the 1st quarter. Renaissance Technologies LLC now owns 5,816,854 shares of the financial services provider’s stock valued at $48,687,000 after purchasing an additional 3,952,000 shares during the last quarter. Finally, Westpac Banking Corp increased its stake in shares of Vereit by 19.2% in the 1st quarter. Westpac Banking Corp now owns 470,370 shares of the financial services provider’s stock valued at $3,937,000 after purchasing an additional 75,744 shares during the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.
Vereit stock opened at $8.51 on Friday. Vereit has a one year low of $6.78 and a one year high of $8.56. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $8.24 billion, a price-to-earnings ratio of 11.82, a P/E/G ratio of 1.14 and a beta of 0.66.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.138 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $0.55 dividend on an annualized basis and a yield of 6.49%. Vereit’s dividend payout ratio (DPR) is presently 76.39%.
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 a total asset book value of $14.0 billion including approximately 4,000 properties and 95.0 million square feet. VEREIT's business model provides equity capital to creditworthy corporations in return for long-term leases on their properties.
Further Reading: What is an SEC Filing?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Vereit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vereit and related companies with MarketBeat.com's FREE daily email newsletter.