- VER has been frustrating to hold over the past few years, as progress feels glacially slow and the dividend was cut earlier this year.
- But as I peruse management's strategic and capital allocation decisions this year and specifically in the third quarter, I can't complain.
- Industrial properties are slowly growing as a share of the portfolio, while restaurants are diminishing.
- Debt levels are declining, and management is whittling away at VER's 6.7%-yielding preferred equity.
- VER shares are still cheap.
For further details see:
Vereit: One Good Capital Allocation Step At A Time