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PHOENIX—In its first quarterly report under a new name, VEREIT reported year-over-year gains in funds from operations, revenue and normalized EBITDA, while also moving forward on its business plan. To that end, the net lease REIT, which has begun trading on the New York Stock Exchange under the VER symbol, said it planned to enhance its portfolio by selling up to $2.2 billion of assets by the end of 2016, and also sought to reduce its net debt to EBITDA ratio to a range of 6.0x to 7.0x.

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