Is VEREIT, Inc. (VER) a Sell? The Stock Formed Bearish Multiple Bottom Pattern

May 17, 2018 - By Kristen Paramore

VEREIT, Inc. (NYSE:VER) Logo

The stock of VEREIT, Inc. (VER) shows a multiple bottoms pattern with $6.37 target or 8.00 % below today’s $6.92 share price. The 9 months chart pattern indicates high risk for the $6.88B company. It was reported on May, 17 by Finviz.com. If the $6.37 price target is reached, the company will be worth $550.40M less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock decreased 1.00% or $0.07 during the last trading session, reaching $6.92. About 9.88M shares traded or 20.93% up from the average. VEREIT, Inc. (NYSE:VER) has declined 19.24% since May 17, 2017 and is downtrending. It has underperformed by 30.79% the S&P500.

Analysts await VEREIT, Inc. (NYSE:VER) to report earnings on August, 2. They expect $0.17 EPS, down 5.56 % or $0.01 from last year’s $0.18 per share. VER’s profit will be $169.02 million for 10.18 P/E if the $0.17 EPS becomes a reality. After $0.18 actual EPS reported by VEREIT, Inc. for the previous quarter, Wall Street now forecasts -5.56 % negative EPS growth.

Another recent and important VEREIT, Inc. (NYSE:VER) news was published by Streetinsider.com which published an article titled: “Glenview Capital Enters AmerisourceBergen (ABC), Express Scripts (ESRX), T-Mobile (TMUS) (more…) -13F” on May 15, 2018.

VEREIT is a leading, full-service real estate operating firm with investment management capability. The company has market cap of $6.88 billion. VEREIT owns and actively manages a diversified portfolio of retail, restaurant, office and industrial real estate assets with a total asset book value of $14.7 billion including approximately 4,100 properties and 92.2 million square feet, located in 49 states, as well as Puerto Rico and Canada. It currently has negative earnings. Additionally, VEREIT manages $7.8 billion of gross real estate investments on behalf of the Cole Capital non-listed REITs.

VEREIT, Inc. (NYSE:VER) Ratings Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.




Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our free daily email newsletter: