March 27, 2024

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VEREIT, Inc. to Post Q4 2020 Earnings of $0.77 Per Share, Capital One Financial Forecasts (NYSE:VER)

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VEREIT, Inc. (NYSE:VER) – Equities researchers at Capital One Financial lowered their Q4 2020 earnings estimates for VEREIT in a research note issued to investors on Tuesday, January 5th. Capital One Financial analyst C. Lucas now anticipates that the financial services provider will earn $0.77 per share for the quarter, down from their previous forecast of $0.78. Capital One Financial also issued estimates for VEREIT’s Q1 2021 earnings at $0.79 EPS, Q3 2021 earnings at $0.81 EPS, FY2021 earnings at $3.23 EPS, Q1 2022 earnings at $0.83 EPS, Q2 2022 earnings at $0.83 EPS, Q4 2022 earnings at $0.83 EPS, FY2022 earnings at $3.33 EPS and FY2023 earnings at $3.43 EPS.

Several other research analysts have also recently issued reports on the company. Morgan Stanley raised their price objective on VEREIT from $31.25 to $33.75 and gave the stock an “equal weight” rating in a research note on Tuesday, December 15th. Mizuho raised their price objective on VEREIT from $25.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 29th. Zacks Investment Research upgraded VEREIT from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Tuesday. JPMorgan Chase & Co. cut VEREIT from an “overweight” rating to a “neutral” rating and set a $40.00 price target for the company. in a research report on Monday, December 21st. Finally, ValuEngine upgraded VEREIT from a “sell” rating to a “hold” rating in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $39.21.

Shares of NYSE:VER opened at $35.57 on Friday. VEREIT has a 52-week low of $17.77 and a 52-week high of $50.90. The stock has a market cap of $7.77 billion, a price-to-earnings ratio of -59.28 and a beta of 1.01. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.86. The business has a 50-day moving average price of $36.65 and a 200-day moving average price of $34.11.

VEREIT (NYSE:VER) last announced its quarterly earnings data on Thursday, November 5th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.35). VEREIT had a negative return on equity of 7.49% and a negative net margin of 43.35%. The firm had revenue of $295.30 million during the quarter, compared to analysts’ expectations of $283.90 million. During the same quarter in the previous year, the business earned $0.90 earnings per share. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue grew its holdings in VEREIT by 0.5% in the third quarter. State of Alaska Department of Revenue now owns 308,352 shares of the financial services provider’s stock valued at $2,004,000 after purchasing an additional 1,600 shares during the period. Norinchukin Bank The boosted its stake in shares of VEREIT by 14.5% in the third quarter. Norinchukin Bank The now owns 18,831 shares of the financial services provider’s stock worth $122,000 after acquiring an additional 2,390 shares during the last quarter. First Hawaiian Bank boosted its stake in shares of VEREIT by 10.5% in the third quarter. First Hawaiian Bank now owns 28,767 shares of the financial services provider’s stock worth $187,000 after acquiring an additional 2,744 shares during the last quarter. Wedbush Securities Inc. boosted its stake in shares of VEREIT by 4.3% in the third quarter. Wedbush Securities Inc. now owns 72,300 shares of the financial services provider’s stock worth $470,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC boosted its stake in shares of VEREIT by 6.5% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 51,428 shares of the financial services provider’s stock worth $334,000 after acquiring an additional 3,126 shares during the last quarter. 94.51% of the stock is currently owned by institutional investors.

The firm also recently disclosed a dividend, which was paid on Friday, December 18th. Shareholders of record on Monday, December 21st were issued a $0.0154 dividend. This represents a yield of 0.8%. The ex-dividend date of this dividend was Friday, December 18th. VEREIT’s payout ratio is currently 223.19%.

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 $14.6 billion including approximately 3,800 properties and 88.9 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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Earnings History and Estimates for VEREIT (NYSE:VER)



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