UPDATE: JPMorgan Downgrades VEREIT (VER) to Neutral

(Updated - December 21, 2020 4:43 AM EST)

(updating comment)

JPMorgan analyst Anthony Paolone downgraded VEREIT (NYSE: VER) from Overweight to Neutral with a price target of $40.00.

The analyst comments "We think management has done a good job of turning around the company in the last five years, and it is gradually getting back to having a deal pipeline that can drive growth. Its collections have ramped up well in recent months in the face of the pandemic. We think valuation is closer to fair than some peers when considering how quickly others are returning to growth."

For an analyst ratings summary and ratings history on VEREIT click here. For more ratings news on VEREIT click here.

Shares of VEREIT closed at $37.86 yesterday.

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