VEREIT: Holding The Common But Avoiding The Preferred Class F For Now [Seeking Alpha]
VEREIT, Inc. (VER)
Last vereit, inc. earnings: 2/26 06:15 am
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US:NYSE Investor Relations:
ir.vereit.com
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Source: Seeking Alpha
Summary I have been a longtime holder of VEREIT common while tracking the preferred shares. The common shares are trading near a 52-week high as legal woes seem to be resolving. Shares currently yield 5.67%. The preferred class F shares are trading above par, yield 6.64% paid monthly, and face a pending partial redemption of $8,000,000 face value. The partial redemption is pro-rated, not by submission, so most positions will face a 20%+ redemption. New holders will basically receive their investment back and very little gain on 1/5th of their position. Overall the portfolio of triple netproperties is in good shape. Over-reliance on restaurants still exists but is smaller than in the past. Vereit, Inc. ( VER.PF Vereit Is A Stronger REIT Than It Is Given Credit For Vereit has a portfolio of 3,900 single-tenant properties in 49 states and Puerto Rico. Most are triple-net leases, a proven model in their market sector shared by industry behemoth Realty ( NNN Additionally, the missteps and
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