Veris Residential, Inc. (NYSE:VRE - Get Free Report) declared a quarterly dividend on Monday, May 6th, Zacks reports. Shareholders of record on Wednesday, July 3rd will be given a dividend of 0.06 per share on Tuesday, July 16th. This represents a $0.24 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Wednesday, July 3rd. This is a positive change from Veris Residential's previous quarterly dividend of $0.05.
Veris Residential has decreased its dividend payment by an average of 44.5% per year over the last three years. Veris Residential has a dividend payout ratio of -68.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Veris Residential to earn $0.57 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 42.1%.
Veris Residential Trading Up 0.9 %
Shares of NYSE:VRE traded up $0.13 during trading on Tuesday, reaching $15.39. The stock had a trading volume of 388,976 shares, compared to its average volume of 668,565. Veris Residential has a fifty-two week low of $13.06 and a fifty-two week high of $18.98. The business has a fifty day moving average price of $14.72 and a 200-day moving average price of $14.86. The stock has a market cap of $1.42 billion, a P/E ratio of -15.39, a PEG ratio of 3.08 and a beta of 1.22. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 1.46.
Analyst Ratings Changes
Separately, Truist Financial reduced their price target on Veris Residential from $15.00 to $14.00 and set a "hold" rating on the stock in a research note on Tuesday, April 9th.
View Our Latest Stock Report on Veris Residential
About Veris Residential
(
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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.
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