Shares of VEREIT are up over 30% thus far in 2016, far outpacing the 11.5% return of the iShares U.S. Real Estate ETF . The company’s CEO Glenn Rufrano said the soaring share price reflects the success of VEREIT’s turnaround plan in the wake of the 2014 accounting scandal that tarnished its reputation and damaged its credit rating. “I came on in April 2015 and put a brand new board and management in place, and with that leadership we then put a business plan in place last August with four very simple points: cull the portfolio and make it better, reestablish our investment management brand, get back our investment grade rating and put a sustainable dividend in place,” said Rufrano. “All those points were put in place and we are executing.” Nearly a quarter of VEREIT’s more than $16 billion in property are in restaurants with Red Lobster being the largest tenant
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