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VEREIT

NYSE:VER
Snowflake Description

Adequate balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VER
NYSE
$9B
Imp Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

VEREIT is 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. The last earnings update was 12 days ago. More info.


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VER Share Price and Events
7 Day Returns
2.2%
NYSE:VER
1.8%
US REITs
-0.7%
US Market
1 Year Returns
25%
NYSE:VER
16.3%
US REITs
3%
US Market
VER Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
VEREIT (VER) 2.2% 7.3% 4.8% 25% -7.3% -29.6%
US REITs 1.8% 2.4% 3.1% 16.3% 13.8% 26.4%
US Market -0.7% -2% 2.4% 3% 39.2% 42%
1 Year Return vs Industry and Market
  • VER outperformed the REITs industry which returned 16.3% over the past year.
  • VER outperformed the Market in United States of America which returned 3% over the past year.
Price Volatility
VER
Industry
5yr Volatility vs Market

VER Value

 Is VEREIT undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of VEREIT to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for VEREIT.

NYSE:VER Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:VER
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.531 (1 + (1- 21%) (72.55%))
0.89
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.89
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.89 * 5.96%)
8.03%

Discounted Cash Flow Calculation for NYSE:VER using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for VEREIT is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

VEREIT is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

NYSE:VER DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (USD, Millions) Source Present Value
Discounted (@ 8.03%)
2019 675.60 Analyst x6 625.36
2020 679.68 Analyst x6 582.36
2021 695.32 Analyst x3 551.47
2022 708.03 Est @ 1.83% 519.80
2023 722.89 Est @ 2.1% 491.25
2024 739.43 Est @ 2.29% 465.13
2025 757.33 Est @ 2.42% 440.97
2026 776.37 Est @ 2.51% 418.44
2027 796.39 Est @ 2.58% 397.32
2028 817.28 Est @ 2.62% 377.43
Present value of next 10 years cash flows $4,869.55
NYSE:VER DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $817.28 × (1 + 2.73%) ÷ (8.03% – 2.73%)
$15,834.29
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $15,834.29 ÷ (1 + 8.03%)10
$7,312.38
NYSE:VER Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $4,869.55 + $7,312.38
$12,181.93
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $12,181.93 / 996.95
$12.22
NYSE:VER Discount to Share Price
Calculation Result
Value per share (USD) From above. $12.22
Current discount Discount to share price of $8.66
= -1 x ($8.66 - $12.22) / $12.22
29.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price VEREIT is available for.
Intrinsic value
29%
Share price is $8.66 vs Future cash flow value of $12.22
Current Discount Checks
For VEREIT to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • VEREIT's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • VEREIT's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for VEREIT's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are VEREIT's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:VER PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $-0.12
NYSE:VER Share Price ** NYSE (2019-05-17) in USD $8.66
United States of America REITs Industry PE Ratio Median Figure of 156 Publicly-Listed REITs Companies 32.79x
United States of America Market PE Ratio Median Figure of 3,088 Publicly-Listed Companies 17.89x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of VEREIT.

NYSE:VER PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:VER Share Price ÷ EPS (both in USD)

= 8.66 ÷ -0.12

-69.64x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • VEREIT is loss making, we can't compare its value to the US REITs industry average.
  • VEREIT is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does VEREIT's expected growth come at a high price?
Raw Data
NYSE:VER PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -69.64x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
44.8%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 2.4x
United States of America Market PEG Ratio Median Figure of 2,117 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for VEREIT, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on VEREIT's assets?
Raw Data
NYSE:VER PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $7.30
NYSE:VER Share Price * NYSE (2019-05-17) in USD $8.66
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.86x
United States of America Market PB Ratio Median Figure of 5,195 Publicly-Listed Companies 1.83x
NYSE:VER PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:VER Share Price ÷ Book Value per Share (both in USD)

= 8.66 ÷ 7.30

1.19x

* Primary Listing of VEREIT.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • VEREIT is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess VEREIT's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. VEREIT has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

VER Future Performance

 How is VEREIT expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
44.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is VEREIT expected to grow at an attractive rate?
  • VEREIT's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • VEREIT's earnings growth is expected to exceed the United States of America market average.
  • VEREIT's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:VER Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:VER Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 44.8%
NYSE:VER Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts -0.5%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.7%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:VER Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:VER Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 1,283 44 1
2020-12-31 1,237 68 6
2019-12-31 1,269 99 3
NYSE:VER Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 1,261 538 -120
2018-12-31 1,259 494 -161
2018-09-30 1,264 632 -190
2018-06-30 1,257 667 -106
2018-03-31 1,248 759 -5
2017-12-31 1,253 793 -21
2017-09-30 1,168 789 -11
2017-06-30 1,224 774 6
2017-03-31 1,287 803 -20
2016-12-31 1,335 798 -144
2016-09-30 1,481 844 -340
2016-06-30 1,510 826 -362

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • VEREIT's earnings are expected to grow significantly at over 20% yearly.
  • VEREIT's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:VER Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from VEREIT Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:VER Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.04 0.04 0.04 1.00
2020-12-31 0.04 0.05 0.03 2.00
2019-12-31 0.10 0.10 0.10 1.00
NYSE:VER Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 -0.12
2018-12-31 -0.17
2018-09-30 -0.20
2018-06-30 -0.11
2018-03-31 0.00
2017-12-31 -0.02
2017-09-30 -0.01
2017-06-30 0.01
2017-03-31 -0.02
2016-12-31 -0.15
2016-09-30 -0.37
2016-06-30 -0.40

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • VEREIT is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess VEREIT's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
VEREIT has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

VER Past Performance

  How has VEREIT performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare VEREIT's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • VEREIT does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare VEREIT's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare VEREIT's 1-year growth to the US REITs industry average as it is not currently profitable.
Earnings and Revenue History
VEREIT's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from VEREIT Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:VER Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,260.94 -120.38 63.54
2018-12-31 1,259.04 -161.40 63.93
2018-09-30 1,264.11 -190.21 64.99
2018-06-30 1,256.90 -106.03 63.02
2018-03-31 1,247.77 -4.57 61.16
2017-12-31 1,253.15 -21.45 58.60
2017-09-30 1,168.08 -11.46 0.00
2017-06-30 1,224.29 5.93 16.54
2017-03-31 1,286.62 -19.69 35.21
2016-12-31 1,335.03 -144.31 51.93
2016-09-30 1,480.87 -340.31 141.42
2016-06-30 1,509.53 -362.43 144.50
2016-03-31 1,533.64 -471.89 145.36
2015-12-31 1,443.53 -204.16 67.14
2015-09-30 1,599.79 -553.42 144.53
2015-06-30 1,665.12 -860.80 141.90
2015-03-31 1,652.10 -814.31 145.17
2014-12-31 1,579.18 -1,081.24 167.43
2014-09-30 1,296.81 -912.18 222.06
2014-06-30 934.81 -674.05 201.71
2014-03-31 607.58 -665.92 170.77
2013-12-31 329.32 -495.13 121.00
2013-09-30 223.69 -310.65 27.05
2013-06-30 147.38 -243.56 18.16
2013-03-31 103.86 -180.68 12.56
2012-12-31 67.21 -41.28 5.46
2012-09-30 39.88 -27.76 2.96
2012-06-30 21.64 -15.56 2.07

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if VEREIT has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • VEREIT used its assets less efficiently than the US REITs industry average last year based on Return on Assets.
  • It is difficult to establish if VEREIT improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess VEREIT's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
VEREIT has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

VER Health

 How is VEREIT's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up VEREIT's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • VEREIT is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • VEREIT's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of VEREIT's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from VEREIT Company Filings, last reported 1 month ago.

NYSE:VER Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 7,232.87 6,263.75 12.79
2018-12-31 7,300.14 6,087.92 30.76
2018-09-30 7,423.87 5,949.09 25.26
2018-06-30 7,645.40 6,040.25 19.25
2018-03-31 7,876.51 6,008.49 28.44
2017-12-31 8,042.88 6,073.44 34.18
2017-09-30 8,226.97 5,917.29 54.71
2017-06-30 8,363.48 6,087.42 292.81
2017-03-31 8,481.63 6,289.40 285.96
2016-12-31 8,619.53 6,370.80 253.68
2016-09-30 8,887.70 6,561.26 116.62
2016-06-30 8,302.51 8,489.54 1,029.62
2016-03-31 8,444.01 7,816.37 104.45
2015-12-31 8,713.96 8,066.72 71.00
2015-09-30 9,057.23 8,863.85 171.66
2015-06-30 9,203.84 9,336.27 123.74
2015-03-31 9,325.43 10,393.72 789.99
2014-12-31 9,382.33 10,433.16 422.22
2014-09-30 10,002.89 11,618.53 154.09
2014-06-30 10,836.99 9,803.56 201.05
2014-03-31 9,540.45 10,327.04 93.05
2013-12-31 2,515.26 4,349.93 61.91
2013-09-30 1,452.81 1,622.48 157.57
2013-06-30 1,552.21 1,316.10 21.12
2013-03-31 1,166.02 910.13 52.41
2012-12-31 1,668.76 393.55 292.58
2012-09-30 97.65 126.85 3.78
2012-06-30 93.66 105.15 2.11
  • VEREIT's level of debt (86.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (108% vs 86.6% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making VEREIT has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making VEREIT has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 14.4% per year.
X
Financial health checks
We assess VEREIT's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. VEREIT has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

VER Dividends

 What is VEREIT's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
6.35%
Current annual income from VEREIT dividends. Estimated to be 6.42% next year.
If you bought $2,000 of VEREIT shares you are expected to receive $127 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • VEREIT's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • VEREIT's dividend is above the markets top 25% of dividend payers in United States of America (3.69%).
Upcoming dividend payment

Purchase VEREIT before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:VER Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2000 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:VER Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.56 4.00
2020-12-31 0.56 6.00
2019-12-31 0.55 6.00
NYSE:VER Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-08 0.550 6.493
2019-02-21 0.550 6.693
2018-11-06 0.550 7.155
2018-08-03 0.550 7.356
2018-02-22 0.550 7.750
2017-11-08 0.550 7.281
2017-08-03 0.550 6.585
2017-02-23 0.550 6.597
2016-11-02 0.550 6.451
2016-08-03 0.550 5.472
2016-05-05 0.550 5.505
2015-08-06 0.550 6.712
2015-05-07 0.000 0.000
2015-03-30 0.995 10.560
2014-11-21 1.000 10.745
2014-10-20 1.000 10.493
2014-09-19 1.000 8.345
2014-08-20 1.000 7.695
2014-07-22 1.000 7.675
2014-06-26 1.000 7.892
2014-05-22 1.000 8.126
2014-04-22 1.000 7.688
2014-03-21 1.000 7.298
2014-02-19 1.000 6.936
2014-02-11 1.000 7.245
2013-12-26 0.940 7.000
2013-11-27 0.940 7.324
2013-10-30 0.910 6.958
2013-09-27 0.910 7.067
2013-08-27 0.910 7.137
2013-07-29 0.910 6.680
2013-06-28 0.910 6.176
2013-05-30 0.910 6.088
2013-04-26 0.900 5.313
2013-03-26 0.960 6.159
2013-02-14 0.900 6.396
2012-11-30 0.900 6.697
2012-11-27 0.895 6.897
2012-10-26 0.890 6.994
2012-09-27 0.890 6.901
2012-08-27 0.890 7.441
2012-06-21 0.890 8.294
2012-03-19 0.885 8.157
2012-02-27 0.880 7.744
2012-01-13 0.880 7.979
2011-12-27 0.875 8.410
2011-11-30 0.875 8.591
2011-10-28 0.875 8.464
2011-09-08 0.875 7.489

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, VEREIT has been paying a dividend for less than 10 years.
  • VEREIT has only been paying a dividend for 8 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of VEREIT's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (1282.1x coverage).
X
Income/ dividend checks
We assess VEREIT's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can VEREIT afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. VEREIT has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

VER Management

 What is the CEO of VEREIT's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Glenn Rufrano
COMPENSATION $8,080,813
AGE 68
TENURE AS CEO 4.1 years
CEO Bio

Mr. Glenn J. Rufrano has been the Chief Executive Officer and Director at VEREIT, Inc., sole general partner of VEREIT Operating Partnership, L.P. since April 1, 2015. Mr. Rufrano served as Chief executive officer and President of Cole REIT Advisors, LLC ; Cole REIT Advisors III, LLC, Cole Corporate Income Advisors, LLc, Cole Corporate Income Advisors II, LLC, Cole REIT Advisors V, LLC and Cole Capital Advisors, Inc. from June 2015 to February 1, 2018. He was Chief Executive Officer and President of Cole Income NAV Strategy, CCPT V and CCIT II from 2015 to February 1, 2018. He has made significant progress on several initiatives including reducing debt, enhancing the portfolio and re-establishing the brand value of Cole Capital. Mr. Rufrano was Chief Executive Officer and President at Cole Office & Industrial REIT (CCIT III), Inc. from June 10, 2015 to February 1, 2018. He has extensive experience growing and creating shareholder value in the commercial real estate industry. Mr. Rufrano served as the Chief Executive Officer and Chairman of O'Connor Capital Partners since November 13, 2013. He was a Partner and Co-Founder at The O'Connor Group Inc. from 1983 to March 2000 and had served as its President and Chief Operating Officer. Mr. Rufrano was among the founders of O'Connor Capital Partners in 1983. He served as Chairman and Chief Executive Officer of o'connor capital partners from November 2013 to March 2015. He served as the Chief Executive Officer of Cushman & Wakefield Ltd. since March 2010. Mr. Rufrano served as the Chief Executive Officer and President at Cushman & Wakefield, Inc. from March 2010 to June 2013 and as its Director until June 2013. He served as the Chief Executive Officer at Centro Retail Group since January 2008. Mr. Rufrano served as the Chief Executive Officer at Centro Properties Group Limited since January 2008 until February 5, 2010. He served as the Chief Executive Officer of U.S. Operations at Centro Properties Group Limited since July 1, 2007 until February 2010. Mr. Rufrano served as the Chief Executive Officer at New Plan Excel Realty Trust Inc. from February 2000 to 2007, as its President from February 2000 to March 2002 and had also served as its Director since 2000. He had joined New Plan Excel Realty Trust Inc. in February 2000. Mr. Rufrano served as the Chief Executive Officer at Brixmor LLC (previously known as Centro NP LLC) from February 2000 to 2007 and had also served as its Director. He served as the Chief Executive Officer at CNPR Limited from January 2008 to February 28, 2010 and as the Chief Executive Officer of U.S from April 2007 to 2008. Mr. Rufrano served as the Chief Executive Officer at Centro MCS Manager Limited at Federation Limited since January 2008. He served as President and Chief Operating Officer of The Peabody Group and served as its Co-Chairman from September 1998 to March 2000. He was Director of Cole Office & Industrial REIT (CCIT III), Inc. from June 10, 2015 to December 31, 2018. He was Director at Cole Office & Industrial REIT (CCIT II), Inc. from June 10, 2015 to December 31, 2018. He was Director at Cole Credit Property Trust V, Inc. June 10, 2015 to December 31, 2018. He served as a Director of Cole Credit Property Trust IV, Inc. since June 16, 2016 until February 01, 2018. He has been a Director of Cole Income NAV Strategy, CCPT V and CCIT II since June 2015. He had been a Director of CIM Income NAV, Inc.(formerly known as Cole Real Estate Income Strategy (Daily NAV), Inc.) since June 10, 2015. Mr. Rufrano was Director at Ventas, Inc. from June 7, 2010 to May 15, 2018. He serves on the Board of New York University's Real Estate Institute. He served as an Independent Director at Columbia Property Trust, Inc. from January 1, 2015 to March 11, 2015. He served as a Director of O'Connor Capital Partners since October 2013. He served as a Director of Cushman & Wakefield Ltd. since March 2010 until June 2013. Mr. Rufrano served as a Director of Trizec Properties, Inc., since May 8, 2002. He served as a Director of Brixmor LLC and Trizechahn Corporation. He served as a Director of CRIIMI MAE Inc. since February 26, 2004 and of General Growth Properties, Inc. from July 2009 to March 19, 2010. He is a Member of the Board of Governors of the National Association of Real Estate Investment Trusts and serves as a Director of New Alternatives For Children, Inc. Mr. Rufrano serves as a Trustee and Member of International Council Of Shopping Centers Inc. He serves as Member of Advisory Board at Real Estate Institute. Mr. Rufrano is a Member of Advisory Board of Baruch College. He is a Member of the Pension Real Estate Association. Mr. Rufrano serves as a Member of Advisory Board of Real Estate Institute, New York University and is an Adjunct Professor at its Real Estate Institute. Mr. Rufrano holds a Master of Science in Management and Real Estate from Florida International University and Bachelor of Arts degree in Business Administration from Rutgers, The State University of New Jersey.

CEO Compensation
  • Glenn's compensation has been consistent with company performance over the past year.
  • Glenn's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the VEREIT management team in years:

4
Average Tenure
58.5
Average Age
  • The tenure for the VEREIT management team is about average.
Management Team

Glenn Rufrano

TITLE
CEO & Director
COMPENSATION
$8M
AGE
68
TENURE
4.1 yrs

Mike Bartolotta

TITLE
Executive VP & CFO
COMPENSATION
$3M
AGE
61
TENURE
3.6 yrs

Paul McDowell

TITLE
Executive VP & COO
COMPENSATION
$3M
AGE
58
TENURE
3.6 yrs

Tom Roberts

TITLE
Executive VP & Chief Investment Officer
COMPENSATION
$3M
AGE
59
TENURE
3.6 yrs

Lauren Goldberg

TITLE
Executive VP
COMPENSATION
$2M
AGE
50
TENURE
4 yrs

Gavin Brandon

TITLE
Senior VP & Chief Accounting Officer
AGE
42
TENURE
4.4 yrs

Bonni Rosen

TITLE
Senior Vice President of Investor Relations

Glenn Kindred

TITLE
Executive Vice President of Restaurants Division
TENURE
5.5 yrs
Board of Directors Tenure

Average tenure and age of the VEREIT board of directors in years:

3.8
Average Tenure
60.5
Average Age
  • The tenure for the VEREIT board of directors is about average.
Board of Directors

Hugh Frater

TITLE
Non-Executive Chairman
COMPENSATION
$354K
AGE
62
TENURE
4.1 yrs

Glenn Rufrano

TITLE
CEO & Director
COMPENSATION
$8M
AGE
68
TENURE
4.1 yrs

Julie Richardson

TITLE
Independent Director
COMPENSATION
$281K
AGE
55
TENURE
4.1 yrs

Dave Henry

TITLE
Independent Director
COMPENSATION
$259K
AGE
69
TENURE
3.7 yrs

Richard Lieb

TITLE
Independent Director
COMPENSATION
$263K
AGE
58
TENURE
2.3 yrs

Mark Ordan

TITLE
Independent Director
COMPENSATION
$257K
AGE
59
TENURE
3.9 yrs

Eugene Pinover

TITLE
Independent Director
COMPENSATION
$267K
AGE
70
TENURE
3.7 yrs

Mary Preusse

TITLE
Independent Director
COMPENSATION
$241K
AGE
49
TENURE
2.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
08. Aug 18 Sell Gavin Brandon Individual 06. Aug 18 07. Aug 18 -20,877 $7.68 $-160,350
X
Management checks
We assess VEREIT's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. VEREIT has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

VER News

Simply Wall St News

How Much is VEREIT, Inc.'s (NYSE:VER) CEO Getting Paid?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … Third, we'll reflect on the total return to shareholders over three years, as a second measure of business performance. … How Does Glenn Rufrano's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Imagine Owning VEREIT (NYSE:VER) And Wondering If The 37% Share Price Slide Is Justified

Because VEREIT is loss-making, we think the market is probably more focussed on revenue and revenue growth, at least for now. … When a company doesn't make profits, we'd generally expect to see good revenue growth. … As you can imagine, fast revenue growth, when maintained, often leads to fast profit growth.

Simply Wall St -

How Many Insiders Sold VEREIT, Inc. (NYSE:VER) Shares?

VEREIT Insider Transactions Over The Last Year. … That means that even when the share price was below the current price of US$8.25, an insider wanted to cash in some shares. … We generally consider it a negative if insiders have been selling on market, especially if they did so below the current price

Simply Wall St -

Should You Worry About VEREIT, Inc.'s (NYSE:VER) CEO Pay Cheque?

In 2015 Glenn Rufrano was appointed CEO of VEREIT, Inc. … First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Glenn Rufrano's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Investing In VEREIT, Inc. (NYSE:VER): What You Need To Know

real estate investment trust (REIT) based in Phoenix, United States. … REITs are basically a portfolio of income-producing real estate investments, which are owned and operated by management of that trust company. … They have to meet certain requirements in order to become a REIT, meaning they should be analyzed a different way.

Simply Wall St -

Does VEREIT Inc's (NYSE:VER) CEO Pay Reflect Performance?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Glenn Rufrano's Compensation Compare With Similar Sized Companies. … Our data indicates that VEREIT Inc is worth US$7.0b, and total annual CEO compensation is US$8m.

Simply Wall St -

Is VEREIT Inc (NYSE:VER) A Healthy REIT?

real estate investment trust (REIT) based in Phoenix, United States. … A common financial term REIT investors should know is Funds from Operations, or FFO for short, which is a REIT's main source of income from its portfolio of property, such as rent … FFO is a cleaner and more representative figure of how much VER actually makes from its day-to-day operations, compared to net income, which can be affected by one-off activities or non-cash items such as depreciation.

Simply Wall St -

Is It The Right Time To Buy VEREIT Inc (NYSE:VER)?

As a mid-cap stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock? … However, could the stock still be trading at a relatively cheap price. … Let’s examine VEREIT’s valuation and outlook in more detail to determine if there’s still a bargain opportunity

Simply Wall St -

Negative Sentiment Around VEREIT Inc (NYSE:VER) Is Justified

VEREIT Inc (NYSE:VER) is a company I've been following for a while, and although it's currently trading below its fair value, I have reasons to believe it may not actually reach this figure. … It's crucial to understand if a company has a strong future based on its current operations and financial status. … Currently, it's trading at a fair value, with a PB ratio of 0.89x vs.

Simply Wall St -

VEREIT Inc (NYSE:VER): Is Real Estate Attractive Relative To NYSE Peers?

VEREIT Inc (NYSE:VER), a USD$7.77B mid-cap, is a real estate company operating in an industry which remains the single largest sector globally, and has continued to play a key role in investor portfolios as an asset class. … Real estate analysts are forecasting for the entire industry, negative growth in the upcoming year. … In this article, I’ll take you through the real estate sector growth expectations, as well as evaluate whether VEREIT is lagging or leading its competitors in the industry.

Simply Wall St -

VER Company Info

Description

VEREIT is 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. The Company has total real estate investments of $15.6 billion including approximately 4,000 properties and 94.7 million square feet. VEREIT's business model provides equity capital to creditworthy corporations in return for long-term leases on their properties. VEREIT is a publicly traded Maryland corporation listed on the New York Stock Exchange. VEREIT uses, and intends to continue to use, its Investor Relations website, which can be found at www.VEREIT.com, as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD.

Details
Name: VEREIT, Inc.
VER
Exchange: NYSE
Founded: 2010
$8,633,604,111
$8,428,224,348
996,951,976
Website: http://www.vereit.com
Address: VEREIT, Inc.
2325 East Camelback Road,
Suite 1100,
Phoenix,
Arizona, 85016,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE VER Common Stock New York Stock Exchange US USD 07. Sep 2011
DB 50A Common Stock Deutsche Boerse AG DE EUR 07. Sep 2011
NYSE VER.PRF PFD SER F New York Stock Exchange US USD 06. Jan 2014
Number of employees
Current staff
Staff numbers
180
VEREIT employees.
Industry
Diversified REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 02:42
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2019/05/15
Last earnings filing: 2019/05/08
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.