VEREIT (VER) Reports Q4 Loss of $0.04, Beats on Revenues

VEREIT (NYSE: VER) reported Q4 EPS of ($0.04). Revenue for the quarter came in at $290.56 million versus the consensus estimate of $282.34 million.

2018 Guidance

The Company expects its 2018 AFFO per diluted share to be in a range between $0.70 and $0.72. This guidance assumes dispositions totaling $300 million to $500 million at an average cash cap rate of 6.5% to 7.5% and acquisitions of $200 million to $300 million in excess of dispositions within the same cap rate range. Acquisitions will be funded through a combination of internal equity, debt capacity within our Net Debt to Normalized EBITDA target and proceeds from the sale of Cole Capital. Guidance also assumes real estate operations with average occupancy above 98.0% and same-store rental growth in a range of 0.3% to 1.0%. The Company also expects to target balance sheet Net Debt to Normalized EBITDA at approximately 6.0x.

For earnings history and earnings-related data on VEREIT (VER) click here.

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