Morgan Stanley Sticks to Its Hold Rating for VEREIT (VER)
Morgan Stanley analyst Vikram Malhorta maintained a Hold rating on VEREIT (VER) today and set a price target of $36.00. The company’s shares closed last Monday at $37.05.
According to TipRanks.com, Malhorta is a 2-star analyst with an average return of 0.7% and a 53.5% success rate. Malhorta covers the Financial sector, focusing on stocks such as Diversified Healthcare Trust, New Senior Investment Group, and National Retail Properties.
Currently, the analyst consensus on VEREIT is a Hold with an average price target of $36.75.
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Based on VEREIT’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $295 million and net profit of $97.93 million. In comparison, last year the company earned revenue of $303 million and had a GAAP net loss of $726 million.
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VEREIT, Inc. operates as a real estate investment trust, which provides real estate investment services. It owns and manages the portfolios of single-tenant commercial properties in the U.S. The company operates through the following segments: Real Estate Investment and Cole Capital. The Real Estate Investment segment acquires, owns and operates single tenant, freestanding, commercial real estate properties, primarily subject to long term net leases with high credit quality tenants. The Cole Capital segment engages in raising capital for and managing the affairs of certain non-traded real estate investment trusts. VEREIT was founded on December 2, 2010 and is headquartered in Phoenix, AZ.