BMO Capital Starts VEREIT (VER) at Outperform

BMO Capital analyst R. Jeremy Metz initiates coverage on VEREIT (NYSE: VER) with a Outperform rating and a price target of $11.00.

The analyst comments "Following years of portfolio and balance sheet reshaping, settlement of its lingering class action lawsuit, and subsequent $887mm equity raise, VER has more or less reset the bar starting in 2020. We see a clearer path for VER to turn from defense to offense, and the shares to grind higher as growth visibility improves. VER arguably should have looked to increase its equity raise and delever further. That said, with the heavy lifting behind it, VER can finally transition to growth mode, further shaping the portfolio and deleveraging along the way."

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 $9.81 yesterday.

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