- Vereit (NYSE:VER) Q2 adjusted FFO per share of 18 cents beats the average analyst estimate of 16 cents and stayed at the same level as a year ago.
- On a total basis, adjusted FFO of $177.1M fell from $178.8M in the year-ago period.
- Q2 rental revenue of $312.0M decreased from $315.7M in the year-ago quarter.
- Q2 EBITDA of $482.0M increased from $161.5M a year earlier.
- Reaffirms 2019 adjusted FFO per share guidance range of 68 cents-70 cents.
- Regarding shareholder lawsuits against the company, Vereit has settled claims of shareholders who held shares of common stock and swaps referencing common stock representing ~35.3% of its outstanding common stock held at the end of the period covered by the various pending shareholder actions for approximately $245.4M.
- In connection with a settlement between the SEC and Vereit's former manager and certain of its principals, ~2.9M Limited Partner OP units of VEREIT's Operating Partnership, which were owned by principals of the former manager, were forfeited and canceled on July 26, 2019, along with $6.4M in associated dividends that have not been paid on those units since October 2015.
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Conference call at 1:30 PM ET.
- Previously: VEREIT FFO beats by $0.02, misses on revenue (Aug. 7)