Insider Trading Report: VEREIT (VER)

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  • Glenn Rufrano, CEO at VEREIT (VER), recently picked up 40,000 shares, shelling out just over $253,000 to do so. The buy increased his total holding to over 3,279,250 shares.

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  • Insider data shows that this is the first buy from company insiders in 2020. In 2019, insiders were sellers of shares at prices anywhere from 15 to 30 percent higher than the current price.

    A triple-net REIT with a focus on commercial properties such as restaurant parcels and drug stores, shares of the company have been significantly knocked down over the past year. Shares are more than double from their panic lows, but are still down 35 percent for the year.

    Action to take: As a REIT, most investors would focus on the dividend. At 4.8 percent, the current price near $6.50 is a reasonable price to pay while waiting for a gradual rebound in shares. It’s also more likely to make money, given how range-bound shares are right now.

    For options traders, the January 2021 $6 puts can be sold for over $0.40, or $40 per contract right now. Since shares are range-bound, this looks like the best way to profit in the options space until commercial real estate prices are in a position to move higher and send shares up. It offers a higher annualized yield than buying shares, without the frustration of a share price trading in a narrow range.

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