VEREIT (NYSE:VER) Receives a Downgrade
In an analyst research report issued to clients on 21 December, CapitalOne announced that they will be downgrading shares of VEREIT (NYSE:VER) from a “Overweight” to a “Equal Weight” rating.
From a total of 6 analysts covering VEREIT Inc (NYSE:VER) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $10 while the lowest target price is $9. The mean of all analyst targets is $9.58 with a 11.11% above today’s ($8.1) stock price. VEREIT Inc was the topic of 3 analyst reports since September 1, 2015 according to the firm StockzIntelligence Inc. JP Morgan upgraded shares on November 6 to “Neutral” rating. Goldman Sachs initiated VER stock in a recent report from September 1 with “Buy” rating.
Approximately 880,389 shares of stock traded hands. Vereit Inc (NYSE:VER) has declined 12.51% since May 18, 2015 and is downtrending. It has underperformed by 6.71% the S&P500.
VEREIT, Inc., formerly American Realty Capital Properties, Inc., is a real estate operating company. The company has a market cap of $7.39 billion. The Firm owns and manages a diversified portfolio of retail, restaurant, office and industrial real estate assets, including approximately 4,645 properties totaling 101.8 million square feet. It currently has negative earnings. In addition, the Company manages real estate investments on behalf of the Cole Capital non-traded real estate investment trust .
According to Zacks Investment Research, “VEREIT, Inc. is a real estate operating company. The Company owns and manages a diversified portfolio of retail, restaurant, office and industrial real estate assets. VEREIT, Inc., formerly known as American Realty Capital Properties Inc., is based in Phoenix, United States.”