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The Reason Why VEREIT (VER) Stock Is Rising In Premarket?

VEREIT Inc. (NYSE: VER) was up 18.88% at $49.05 in premarket trading as of last check. VEREIT stock closed the last session at $41.26, almost stable with a bit decline of -0.15% or -$0.06. Over the course of the day, VER fluctuated between $41.19 and $41.65. VER stock rose this morning on news of a merger.

The merger deal in brief:

VEREIT is an industry leader in real estate operations that specializes in single-tenant, multi-tenant, and infrastructure assets. VER’s current real estate portfolio includes approximately 3,800 properties and 89.5 million square feet of investment real estate totaling $14.6 billion. A key feature of VER’s approach is that it offers long-term leases on properties in exchange for equity capital provided by creditworthy corporations.

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VEREIT and Realty Income Corporation (NYSE:O) announced today that the two companies have entered a definitive merger agreement.

What VER deal will bring?

With the acquisition of VEREIT (VER) and the formation of SpinCo, Realty Income expects the transactions to result in over 10% AFFO growth per share in year one, adding new growth opportunities directly to the diversified portfolio, strengthening cash flow durability, and allowing significant financial synergies, particularly through options for debt refinancing.

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