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

May 17, 2018 - By Kristen Paramore


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 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 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

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