Welcome to our dedicated page for VEREIT news (Ticker: VER), a resource for investors and traders seeking the latest updates and insights on VEREIT stock.
VEREIT Inc. was a public real estate issuer formerly traded under VER and formerly known as American Realty Capital Properties before its acquisition by Realty Income. News tied to VEREIT centers on its completed corporate history, dividend tax allocations for common and Series F preferred shares, capital-structure items such as note exchanges, and earlier disclosures involving shareholder votes, material agreements, governance matters, and operating results.
VEREIT announced the redemption of 6,000,000 shares of its 6.70% Series F Cumulative Redeemable Preferred Stock, representing approximately 19.44% of its total Series F shares, set for July 22, 2020. Each share will be redeemed at $25.00 plus accrued dividends, totaling $25.0325694. Additionally, a cash dividend of $0.1395833 will be paid for the period from June 15 to July 14, 2020, to holders as of July 1, 2020. On the redemption date, dividends will cease, and the redeemed shares will no longer be outstanding.
VEREIT, Inc. (NYSE: VER) announced the pricing of a $600 million offering of 3.40% senior notes due 2028, expected to close on June 29, 2020. The proceeds will be used to redeem approximately $100 million of the company's 6.70% Series F Cumulative Redeemable Preferred Stock and repay revolving credit facility borrowings. The senior notes will be senior unsecured obligations, guaranteed by VEREIT. The offering is managed by several financial institutions under an effective registration statement filed with the SEC.
VEREIT (NYSE: VER) announced an update on its real estate portfolio amid the COVID-19 pandemic. As of June 16, 2020, the company collected approximately 84% of April and May rents and 82% of June rents, with ongoing discussions regarding unpaid rents. VEREIT's strong collection rates are attributed to property diversification and investment-grade tenants. The company reported corporate liquidity of around $1.2 billion. All major credit agencies maintain investment-grade ratings for VEREIT, reflecting its solid financial footing amidst ongoing pandemic challenges.