VEREIT (VER) Reports Q4 FFP of $0.16

VEREIT (NYSE: VER) reported Q4 FFO of $0.16, versus $0.17 reported last year. Revenue for the quarter came in at $305.4 million versus the consensus estimate of $305.28 million.

2020 Guidance:

The Company expects its 2020 AFFO per diluted share to be in a range between $0.64 and $0.66 (see reconciliation to net income per share at the end of this release). This guidance assumes:

Acquisitions: $1.0 billion to $1.3 billion at an average cash cap rate of 6.5% to 7.5%
Dispositions: $250 million to $350 million at an average cash cap rate of 6.5% to 7.5%
Dispositions Contributed to the Office Partnership: $110 million (Company's pro rata share)
Industrial Partnership Acquisitions: $400 million to $600 million
Office Partnership Acquisitions $100 million to $200 million
Average Occupancy: above 98.0%
Same-Store Rental Growth: 0.3% to 0.8%
Net Debt to Normalized EBITDA: 5.5x to 6.0x

For earnings history and earnings-related data on VEREIT (VER) click here.

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