VEREIT (VER) Initiated with a Hold at Berenberg Bank

In a report released yesterday, Nathan Crossett from Berenberg Bank initiated coverage with a Hold rating on VEREIT (VERResearch Report) and a price target of $6.75. The company’s shares closed last Friday at $6.21.

According to TipRanks.com, Crossett is a 3-star analyst with an average return of 10.9% and a 46.7% success rate. Crossett covers the Financial sector, focusing on stocks such as Spirit Realty Capital, Global Net Lease, and Realty Income.

Currently, the analyst consensus on VEREIT is a Moderate Buy with an average price target of $7.85.

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The company has a one-year high of $10.18 and a one-year low of $3.56. Currently, VEREIT has an average volume of 15.2M.

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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.