VEREIT, Inc. (VER)’s Trend Down, Especially After Forming a Multiple Bottom Pattern

July 14, 2018 - By Kyle Williams


The stock of VEREIT, Inc. (VER) shows a multiple bottoms pattern with $7.15 target or 7.00 % below today’s $7.69 share price. The 6 months chart pattern indicates high risk for the $7.65B company. It was reported on Jul, 14 by If the $7.15 price target is reached, the company will be worth $535.22M 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 increased 0.13% or $0.01 during the last trading session, reaching $7.69. About 4.61 million shares traded. VEREIT, Inc. (NYSE:VER) has declined 15.19% since July 14, 2017 and is downtrending. It has underperformed by 27.76% the S&P500.

Analysts await VEREIT, Inc. (NYSE:VER) to report earnings on August, 2. They expect $0.18 earnings per share, 0.00 % or $0.00 from last year’s $0.18 per share. VER’s profit will be $178.97 million for 10.68 P/E if the $0.18 EPS becomes a reality. After $0.18 actual earnings per share reported by VEREIT, Inc. for the previous quarter, Wall Street now forecasts 0.00 % EPS growth.

VEREIT is a leading, full-service real estate operating firm with investment management capability. The company has market cap of $7.65 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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