VER - VEREIT FFO beats by $0.03 misses on revenue

VEREIT (NYSE:VER): Q3 FFO of $0.83 beats by $0.03. Revenue of $289.67M (-1.9% Y/Y) misses by $6.23M. Shares +0.22%. Press Release Rent collection of 99.1%. Normalized EBITDA for the quarter ended September 30, 2021 increased $0.7 million to $253.6 million. Total debt - as reported increased from $5.6 billion to $5.7 billion; Adjusted Principal Outstanding remained at $5.8 billion; Net Debt increased from $5.5 billion to $5.8 billion; and Net Debt to Normalized EBITDA increased from 5.46x to 5.75x. Debt metrics were impacted by the redemption of $373.0 million of the Company's 6.7% Series F Preferred Stock during the quarter.

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VEREIT FFO beats by $0.03, misses on revenue