VER - Vereit reports steady 97% rent collection in December

Vereit (VER) announces about 97% of rent collected for December, in line with November's figure. It includes ~2% to be paid in arrears by a government agency tenant.The company is on target to hit the high end of Q4 2020-to-Q1 2021 acquisition pipeline of $150M-$300M, with $180M completed in Q4.During 2020, the company has invested ~$1B including $280M acquired for the institutional partnerships and $400M allocated to the redemption of 6.7% preferred stock of which $100M scheduled to be redeemed on Jan. 15, 2021.As part of the company's planned disposition program, to bring down office exposure to below 15% of rental income, VEREIT total sales remains at $430M since the start of 2020. Now Read:  JPMorgan analysts rejigger real estate, REIT ratings for 2021 outlook

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Vereit reports steady 97% rent collection in December