VEREIT, Inc. (NYSE:VER)’s traded shares stood at 2,205,639 during the last session, with the company’s beta value hitting 1.11. At the close of trading, the stock’s price was $7.26, to imply a decline of -1.43% or -$0.1 in intraday trading. The VER share’s 52-week high remains $10.18, putting it -40.22% down since that peak but still an impressive +50.96% since price per share fell to its 52-week low of $3.56. The company has a valuation of $7.94 Billion, with an average of 18.52 Million shares in intraday trading volume over the past 10 days and average of 9.77 Million shares over the past 3 months.
Analysts have given a consensus recommendation of Overweight for VEREIT, Inc. (VER), translating to a mean rating of 2.5. Of 9 analyst(s) looking at the stock, none analyst(s) give VER a Sell rating. None of those analysts rate the stock as Overweight while 5 advise Hold as 4 recommend it as a Buy. None analyst(s) have given it an Underweight rating. Estimates put the company’s earnings per share at $0.03.
VEREIT, Inc. (NYSE:VER) trade information
After registering a -1.43% downside on the day, VEREIT, Inc. (VER) has traded red over the past five days. The stock hit a weekly high of $7.66-4 this Monday, Nov 16, jumping 4.96% in its intraday price action. The 5-day price performance for the stock is -1.09%, and 9.15% over 30 days. With these gigs, the year-to-date price performance is -21.21%. Short interest in VEREIT, Inc. (NYSE:VER) saw shorts transact 25.02 Million shares and set a 2.56 days time to cover.
Analysts on Wall Street suggest a consensus price target of $7.69, implying an increase of 5.92% to the stock’s current value. The extremes give us $6.25 and $9 for target low and target high price respectively. As such, VER is trading +23.97% off suggested target high and -13.91% from its likely low.
VEREIT, Inc. (VER) estimates and forecasts
Looking at statistics comparing VEREIT, Inc. share performance against respective industry, we note that the company has underperformed competitors. VEREIT, Inc. (VER) shares are +35.05% up over the last 6 months, with its year-to-date growth rate lower than industry average at -11.59% against -3%. But the company is tempering its growth estimates for the 2020 fiscal year. Revenue is forecast to decline -40% this quarter before falling -42.9% for the next one. The company projects its revenue will drop -7.8% compared to the previous financial year.
Forecast revenue for the current quarter as set by 6 analysts is $282.05 Million. Meanwhile, for the quarter ending March 01, 2021, a total of 5 analyst(s) estimate revenue growth to $278.08 Million. Earnings reports from the last fiscal year show that sales brought in $305.36 Million for this quarter and $305.93 Million the next quarter. In this case, analysts estimate current quarter sales to dip -7.6% before falling -9.1% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 23% for the past 5-year period. While 2020 is set for a -121.9% return in earnings, projections for the next 5 years are at 5% annually.
VEREIT, Inc. has its next earnings report out on November 05, 2020. Despite the year witnessing an increase in the company’s overall debt, investors are exuding optimism of an improved dividend yield. VEREIT, Inc. has a forward dividend ratio of 0.31, with the share yield ticking at 4.18% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 6.55%.
VEREIT, Inc. (NYSE:VER)’s Major holders
VEREIT, Inc. insiders hold 0.31% of total outstanding shares, with institutional holders owning 98.75% of the shares at 99.05% float percentage. In total, 591 institutions holds shares in the company, led by Vanguard Group, Inc. (The). As of Sep 29 this year, the company held over 150.75 Million shares (or 13.81% of shares), all amounting to roughly $979.86 Million.
The next major institution holding the largest number of shares is Cohen & Steers Inc. with 139.25 Million shares, or about 12.76% of shares outstanding. As of the market price on 44103, these shares were worth $905.13 Million.
We also have Vanguard Specialized-Real Estate Index Fund and Vanguard Total Stock Market Index Fund as the top two Mutual Funds with the largest holdings of the VEREIT, Inc. (VER) shares. Going by data provided on 44042, Vanguard Specialized-Real Estate Index Fund holds roughly 48,137,536 shares. This is just over 4.41% of the total shares, with a market valuation of $313.38 Million. Data from the same date shows that the other fund manager holds a little less at 30.6 Million, or 2.8% of the shares, all valued at about $196.74 Million.