VEREIT Inc. [NYSE: VER] slipped around -0.1 points on Monday, while shares priced at $6.55 at the close of the session, down -1.50%. The company report on September 9, 2020 that VEREIT® Announces $157.5 Million of Dispositions Accretively Redeeming $150.0 Million of Preferred Stock and Provides Updated August Rent Collection of 94%.
VEREIT, Inc. (NYSE: VER) (“VEREIT”), 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., announced the closing of $157.5 million of dispositions in the third quarter to accretively fund the previously announced partial redemption of $150.0 million of its 6.70% Series F Cumulative Redeemable Preferred Stock (“Preferred Stock”) on September 20, 2020. The disposition total includes the Company’s share of a property contributed to the office partnership of $39.8 million. The other portfolio dispositions were comprised of an additional office sale for $107.0 million at a 5.6% capitalization rate as well as $10.7 million of non-core assets which included a Red Lobster restaurant.
Year-to-Date Transaction Summary as of September 2, 2020.
VEREIT Inc. stock is now -29.11% down from its year-to-date (YTD) trading value. VER Stock saw the intraday high of $6.74 and lowest of $6.54 per share. The company’s 52-week high price is 10.18, which means current price is +84.25% above from all time high which was touched on 02/24/20.
Compared to the average trading volume of 8.61M shares, VER reached a trading volume of 3999332 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about VEREIT Inc. [VER]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for VER shares is $7.31 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on VER stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BofA Securities have made an estimate for VEREIT Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 24, 2020. While these analysts kept the previous recommendation, Berenberg raised their target price to Hold. The new note on the price target was released on July 10, 2020, representing the official price target for VEREIT Inc. stock. Previously, the target price had yet another raise to $10, while CapitalOne analysts kept a Equal Weight rating on VER stock.
The Average True Range (ATR) for VEREIT Inc. is set at 0.23, with the Price to Sales ratio for VER stock in the period of the last 12 months amounting to 6.04. The Price to Book ratio for the last quarter was 1.06, with the Price to Cash per share for the same quarter was set at 0.25.
How has VER stock performed recently?
VEREIT Inc. [VER] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.48. With this latest performance, VER shares dropped by -2.38% in over the last four-week period, additionally plugging by 32.86% over the last 6 months – not to mention a drop of -33.50% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for VER stock in for the last two-week period is set at 43.80, with the RSI for the last a single of trading hit 38.39, and the three-weeks RSI is set at 46.24 for VEREIT Inc. [VER]. The present Moving Average for the last 50 days of trading for this stock 6.75, while it was recorded at 6.71 for the last single week of trading, and 6.83 for the last 200 days.
VEREIT Inc. [VER]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and VEREIT Inc. [VER] shares currently have an operating margin of +22.59 and a Gross Margin at +50.35. VEREIT Inc.’s Net Margin is presently recorded at -24.28.
Return on Total Capital for VER is now 2.14, given the latest momentum, and Return on Invested Capital for the company is -2.37. Return on Equity for this stock declined to -4.29, with Return on Assets sitting at -2.20. When it comes to the capital structure of this company, VEREIT Inc. [VER] has a Total Debt to Total Equity ratio set at 86.70. Additionally, VER Total Debt to Total Capital is recorded at 46.44, with Total Debt to Total Assets ending up at 44.63. Long-Term Debt to Equity for the company is recorded at 78.92, with the Long-Term Debt to Total Capital now at 42.27.
Reflecting on the efficiency of the workforce at the company, VEREIT Inc. [VER] managed to generate an average of -$1,877,206 per employee. Receivables Turnover for the company is 4.02 with a Total Asset Turnover recorded at a value of 0.09.
Earnings analysis for VEREIT Inc. [VER]
With the latest financial reports released by the company, VEREIT Inc. posted -0.76/share EPS, while the average EPS was predicted by analysts to be reported at 0.04/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -2,000.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for VER. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for VEREIT Inc. go to 5.00%.
Insider trade positions for VEREIT Inc. [VER]
There are presently around $6,783 million, or 97.30% of VER stock, in the hands of institutional investors. The top three institutional holders of VER stocks are: VANGUARD GROUP INC with ownership of 157,953,043, which is approximately -3.179% of the company’s market cap and around 0.40% of the total institutional ownership; COHEN & STEERS, INC., holding 103,856,441 shares of the stock with an approximate value of $690.64 million in VER stocks shares; and BLACKROCK INC., currently with $603.64 million in VER stock with ownership of nearly 1.511% of the company’s market capitalization.
Positions in VEREIT Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 220 institutional holders increased their position in VEREIT Inc. [NYSE:VER] by around 130,127,865 shares. Additionally, 217 investors decreased positions by around 122,718,342 shares, while 58 investors held positions by with 782,683,065 shares. The mentioned changes placed institutional holdings at 1,035,529,272 shares, according to the latest SEC report filing. VER stock had 68 new institutional investments in for a total of 46,419,339 shares, while 70 institutional investors sold positions of 38,197,715 shares during the same period.