VEREIT Inc. [NYSE: VER] stock went on an upward path that rose over 0.50% on Wednesday, amounting to a one-week price increase of more than 1.35%. The company report on August 13, 2021 that Realty Income and VEREIT® Stockholders Approve Merger.
Realty Income Corporation (NYSE: O) (“Realty Income”), The Monthly Dividend Company®, and VEREIT, Inc. (NYSE: VER) (“VEREIT”) announced that Realty Income stockholders and VEREIT stockholders approved all of the proposals necessary for the closing of the previously announced merger pursuant to which Realty Income will acquire VEREIT.
At the special meeting of Realty Income stockholders held, approximately 98.9% of the votes cast were voted in favor of the issuance of new shares of Realty Income common stock to VEREIT stockholders as consideration in the merger, which votes represented approximately 66.0% of the outstanding shares of Realty Income common stock.
Over the last 12 months, VER stock rose by 41.47%. The one-year VEREIT Inc. stock forecast points to a potential upside of 1.62. The average equity rating for VER stock is currently 2.80, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $11.13 billion, with 231.12 million shares outstanding and 228.26 million shares in the current float. Compared to the average trading volume of 1.60M shares, VER stock reached a trading volume of 4351768 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $48.89 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 2.80. 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.
CapitalOne have made an estimate for VEREIT Inc. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on July 26, 2021. While these analysts kept the previous recommendation, BMO Capital Markets raised their target price from $45 to $48. The new note on the price target was released on May 07, 2021, representing the official price target for VEREIT Inc. stock.
The Average True Range (ATR) for VEREIT Inc. is set at 0.84, with the Price to Sales ratio for VER stock in the period of the last 12 months amounting to 9.56. The Price to Book ratio for the last quarter was 1.66, with the Price to Cash per share for the same quarter was set at 1.19. Price to Free Cash Flow for VER in the course of the last twelve months was 32.53.
VER Stock Performance Analysis:
VEREIT Inc. [VER] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.35. With this latest performance, VER shares gained by 0.44% in over the last four-week period, additionally plugging by 17.55% over the last 6 months – not to mention a rise of 41.47% 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 55.68, with the RSI for the last a single of trading hit 62.61, and the three-weeks RSI is set at 52.51 for VEREIT Inc. [VER]. The present Moving Average for the last 50 days of trading for this stock 48.50, while it was recorded at 47.55 for the last single week of trading, and 43.90 for the last 200 days.
Insight into VEREIT Inc. Fundamentals:
VER Stock EPS
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%.
VEREIT Inc. [VER] Insider Position Details
There are presently around $10,311 million, or 95.50% of VER stock, in the hands of institutional investors. The top three institutional holders of VER stocks are: COHEN & STEERS, INC. with ownership of 36,794,210, which is approximately 3.1% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 32,758,383 shares of the stock with an approximate value of $1.58 billion in VER stocks shares; and BLACKROCK INC., currently with $887.09 million in VER stock with ownership of nearly -1.687% of the company’s market capitalization.
171 institutional holders increased their position in VEREIT Inc. [NYSE:VER] by around 29,573,589 shares. Additionally, 203 investors decreased positions by around 34,636,795 shares, while 59 investors held positions by with 150,149,644 shares. The mentioned changes placed institutional holdings at 214,360,028 shares, according to the latest SEC report filing. VER stock had 66 new institutional investments in for a total of 18,521,787 shares, while 58 institutional investors sold positions of 3,346,427 shares during the same period.