Veris Residential, Inc. (NYSE:VRE) Receives $19.20 Average PT from Analysts

Veris Residential, Inc. (NYSE:VRE) has earned a consensus rating of “Hold” from the six brokerages that are covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $19.20.

A number of research firms have recently weighed in on VRE. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Veris Residential in a research report on Wednesday. BTIG Research lowered their price objective on Veris Residential from $26.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, July 23rd. Evercore ISI lifted their price objective on Veris Residential from $17.50 to $18.00 and gave the company an “in-line” rating in a research report on Friday, July 25th. Finally, Wall Street Zen raised Veris Residential from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th.

Veris Residential Trading Up 0.6%

Veris Residential stock opened at $14.61 on Monday. The business has a 50-day simple moving average of $14.99 and a two-hundred day simple moving average of $15.17. The company has a market cap of $1.36 billion, a P/E ratio of -63.52, a P/E/G ratio of 2.48 and a beta of 1.35. Veris Residential has a 52-week low of $13.69 and a 52-week high of $18.85. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.47.

Veris Residential (NYSE:VRE) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. Veris Residential had a negative return on equity of 1.89% and a negative net margin of 7.84%.The firm had revenue of $75.93 million for the quarter, compared to analysts’ expectations of $69.06 million. Veris Residential has set its FY 2025 guidance at 0.630-0.640 EPS. Analysts predict that Veris Residential will post 0.61 EPS for the current year.

Veris Residential Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 30th. Veris Residential’s payout ratio is presently -139.13%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. CWM LLC lifted its holdings in Veris Residential by 925.9% in the 2nd quarter. CWM LLC now owns 7,017 shares of the company’s stock worth $104,000 after purchasing an additional 6,333 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Veris Residential by 307.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,617 shares of the company’s stock valued at $128,000 after purchasing an additional 6,500 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in Veris Residential in the 1st quarter valued at $190,000. Magnetar Financial LLC bought a new position in Veris Residential in the 1st quarter valued at $195,000. Finally, Natixis Advisors LLC bought a new position in Veris Residential in the 1st quarter valued at $202,000. 93.04% of the stock is owned by hedge funds and other institutional investors.

Veris Residential Company Profile

Veris Residential, Inc is a forward-thinking, environmentally and socially conscious real estate investment trust (REIT) that primarily owns, operates, acquires and develops holistically-inspired, Class A multifamily properties that meet the sustainability-conscious lifestyle needs of today’s residents while seeking to positively impact the communities it serves and the planet at large.