NEW YORK (TheStreet) -- Shares of Vereit (VER) - Get Report were sliding in mid-afternoon trading on Wednesday after the company posted lower-than-anticipated revenue for the 2016 second quarter.

Before today's market open, the Phoenix-based real estate investment trust said rental income revenue for the quarter was $311.4 million. The figure was below Wall Street's projections of $323.3 million.

Consolidated revenue was $371 million.

Adjusted funds from operations were 19 cents per share, matching analysts' estimates.

Funds from operations is a key metric in the REIT industry, which takes net income and adds back items such as depreciation and amortization.

For 2016, Vereit now sees adjusted funds from operations between 75 cents and 78 cents per share, compared to its prior view for AFFO of 75 cents to 80 cents per share.

Analysts are looking for AFFO of 77 cents per share for the full year.

Separately, TheStreet Ratings Team has a "Hold" with a score of C- on the stock.  

The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its solid stock price performance and notable return on equity.

But the team also finds weaknesses including unimpressive growth in net income and weak operating cash flow.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: VER

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