| Market Capitalization (Millions $) |
- |
| Shares
Outstanding (Millions) |
230 |
| Employees |
242 |
| Revenues (TTM) (Millions $) |
1,075 |
| Net Income (TTM) (Millions $) |
222 |
| Cash Flow (TTM) (Millions $) |
-206 |
| Capital Exp. (TTM) (Millions $) |
609 |
Business Description
Vereit Inc. is a publicly traded American real estate investment trust (REIT) that was founded in 2015. It is headquartered in Phoenix, Arizona, and its common stock is traded on the New York Stock Exchange (NYSE) under the symbol VER.
Vereit's business model involves owning and managing a diverse portfolio of commercial real estate properties across the United States, including retail, office, and industrial properties. These properties are leased to a variety of tenants, including major corporations and small businesses, with long-term leases that provide stable cash flow to the company.
One of Vereit's distinguishing features is its focus on real estate net lease properties. Under this arrangement, tenants are responsible for paying not only rent but also the property taxes, insurance, and maintenance of the property. This frees up Vereit from these responsibilities, enabling it to focus on acquiring and managing properties, while still providing attractive returns to investors.
In terms of financials, Vereit's annual revenue as of December 31, 2020, was $1.73 billion, with a net loss of $105 million. The company's market capitalization was $9.22 billion as of July 2021.
Vereit has a well-diversified portfolio of properties across the United States. As of December 31, 2020, the company owned 3,822 properties across 49 states and Puerto Rico, with a total leasable area of approximately 94 million square feet. Its top tenants include Dollar General, Walgreens, and FedEx, among others.
In terms of management, Vereit is overseen by an experienced team of real estate professionals who have a long-standing track record of success in the industry. Vereit's board of directors is made up of seasoned professionals with diverse backgrounds across the real estate, finance, and business sectors.
One issue that Vereit has faced in recent years is its involvement in an accounting scandal that occurred in 2014. The company was formerly known as American Realty Capital Properties (ARCP) before changing its name to Vereit following the scandal. The scandal involved overstating financial results, leading to the resignation of the former CEO and CFO, and legal settlements of over $1 billion.
Overall, Vereit is a well-established REIT that offers investors a diversified portfolio of net lease properties with stable long-term cash flows. The company's experienced management team, combined with its focus on net lease properties, offers investors an attractive investment opportunity in the real estate sector.
Company Address: 2325 E. Camelback Road, 9th Floor Phoenix 85016 AZ
Company Phone Number: 606-3610 Stock Exchange / Ticker: NYSE VER
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1.91%