VEREIT Inc. (NYSE:VER) traded at a new 52-week high today of $40.93. This new high was reached on below average trading volume as 540,000 shares traded hands, while the average 30-day volume is approximately 1.8 million shares.
Over the past year, VEREIT Inc. has traded in a range of $21.14 to $40.93 and is now at $40.62, 92% above that low.
VEREIT Inc is a real estate investment trust primarily involved in the ownership of property located in the U.S. and Canada. VEREIT organizes its operations through the Real Estate Investment segment and the investment management segment. The company derives the vast majority of its income from its Real Estate Investment division in the form of rental income from long-term leases. This business unit owns and manages a real estate portfolio that is fairly evenly diversified between retail, restaurant, office, and industrial properties. A sizable amount of the company’s total rental income is derived from customers in the casual dining restaurant and manufacturing industries.
VEREIT Inc. (NYSE:VER) is currently priced 0.7% above its average consensus analyst price target of $40.32.
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