VEREIT Committed to Portfolio Diversification

Glenn Rufrano, CEO of VEREIT, Inc. (NYSE: VER), participated in a video interview at Nareit’s REITworld: 2019 Annual Conference in Los Angeles.

Rufrano discussed the importance of a $16 billion company having a diversified portfolio.

“When you’re as large as we are, you want to be as diversified as you can,” he said. Rufrano added that VEREIT’s primary property types are discounted retail, restaurants, office, and industrial.

Rufrano also talked about the importance of ESG practices, and particularly VEREIT’s social responsibilities to Arizona and New York, where the company has offices, and to the broader United States. He said VEREIT is committed to the Waste-Not Food Program, which distributes same-day donations of the corporate office’s excess perishable food throughout Arizona.

Rufrano also said that since 2015, VEREIT has worked hard to have multiple growth by reducing debt and litigation.

“In 2020, [we’ll have] growth in AFFO and multiple, and that combination will give us the better multiple with net acquisition activity,” he said.

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