Analysts Set Veris Residential, Inc. (NYSE:VRE) PT at $19.20

Shares of Veris Residential, Inc. (NYSE:VRE) have earned a consensus recommendation of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $19.20.

VRE has been the subject of a number of research reports. BTIG Research lowered their target price on shares of Veris Residential from $26.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, July 23rd. Evercore ISI lifted their price target on shares of Veris Residential from $17.50 to $18.00 and gave the company an “in-line” rating in a report on Friday, July 25th. Wall Street Zen upgraded shares of Veris Residential from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Veris Residential in a research note on Thursday, October 30th.

Veris Residential Stock Down 1.1%

Shares of Veris Residential stock opened at $14.75 on Friday. The business has a 50-day moving average price of $15.11 and a 200 day moving average price of $14.98. Veris Residential has a fifty-two week low of $13.69 and a fifty-two week high of $18.85. The firm has a market cap of $1.38 billion, a P/E ratio of 22.02, a P/E/G ratio of 2.27 and a beta of 1.32. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.13.

Veris Residential (NYSE:VRE) last issued its earnings results on Wednesday, October 22nd. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.15 by $0.05. Veris Residential had a return on equity of 4.72% and a net margin of 22.09%.The company had revenue of $73.44 million during the quarter, compared to analyst estimates of $73.74 million. Veris Residential has set its FY 2025 guidance at 0.670-0.680 EPS. On average, sell-side analysts forecast that Veris Residential will post 0.61 earnings per share for the current fiscal year.

Veris Residential Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be given a dividend of $0.08 per share. The ex-dividend date is Wednesday, December 31st. This represents a $0.32 dividend on an annualized basis and a yield of 2.2%. Veris Residential’s payout ratio is currently 47.76%.

Institutional Investors Weigh In On Veris Residential

Several large investors have recently added to or reduced their stakes in VRE. Hantz Financial Services Inc. boosted its holdings in shares of Veris Residential by 720.0% during the third quarter. Hantz Financial Services Inc. now owns 2,132 shares of the company’s stock valued at $32,000 after acquiring an additional 1,872 shares during the period. Covestor Ltd boosted its stake in Veris Residential by 29.0% during the 3rd quarter. Covestor Ltd now owns 3,270 shares of the company’s stock valued at $49,000 after purchasing an additional 736 shares during the period. CWM LLC boosted its stake in Veris Residential by 925.9% during the 2nd quarter. CWM LLC now owns 7,017 shares of the company’s stock valued at $104,000 after purchasing an additional 6,333 shares during the period. AlphaQuest LLC grew its position in Veris Residential by 49.5% in the 3rd quarter. AlphaQuest LLC now owns 8,399 shares of the company’s stock worth $128,000 after purchasing an additional 2,780 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Veris Residential by 307.0% in the second 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 period. 93.04% of the stock is owned by institutional investors and hedge funds.

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.