Shares of Veris Residential, Inc. (NYSE:VRE - Get Free Report) have been given a consensus recommendation of "Hold" by the five brokerages that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $19.50.
A number of equities analysts have commented on the company. Wall Street Zen lowered Veris Residential from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Citigroup boosted their price objective on Veris Residential from $16.00 to $19.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 1st. Weiss Ratings reissued a "hold (c-)" rating on shares of Veris Residential in a research note on Monday, December 29th. Finally, Truist Financial boosted their price objective on Veris Residential from $15.00 to $19.00 and gave the stock a "hold" rating in a research note on Tuesday, March 24th.
Check Out Our Latest Analysis on VRE
Hedge Funds Weigh In On Veris Residential
Several large investors have recently made changes to their positions in the company. IFM Investors Pty Ltd lifted its stake in shares of Veris Residential by 5.9% during the first quarter. IFM Investors Pty Ltd now owns 12,891 shares of the company's stock valued at $243,000 after acquiring an additional 719 shares during the period. Covestor Ltd lifted its stake in shares of Veris Residential by 29.0% during the third quarter. Covestor Ltd now owns 3,270 shares of the company's stock valued at $49,000 after acquiring an additional 736 shares during the period. GAMMA Investing LLC lifted its stake in shares of Veris Residential by 71.1% during the fourth quarter. GAMMA Investing LLC now owns 1,954 shares of the company's stock valued at $29,000 after acquiring an additional 812 shares during the period. Amalgamated Bank lifted its stake in shares of Veris Residential by 3.6% during the third quarter. Amalgamated Bank now owns 23,892 shares of the company's stock valued at $363,000 after acquiring an additional 827 shares during the period. Finally, Intech Investment Management LLC lifted its stake in shares of Veris Residential by 2.8% during the third quarter. Intech Investment Management LLC now owns 33,241 shares of the company's stock valued at $505,000 after acquiring an additional 905 shares during the period. Institutional investors and hedge funds own 93.04% of the company's stock.
Veris Residential Price Performance
Veris Residential stock opened at $18.93 on Friday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.68 and a current ratio of 0.57. The firm has a market cap of $1.78 billion, a P/E ratio of 23.66, a P/E/G ratio of 3.14 and a beta of 1.15. The business's fifty day moving average is $18.68 and its two-hundred day moving average is $16.25. Veris Residential has a 52 week low of $13.69 and a 52 week high of $19.03.
Veris Residential (NYSE:VRE - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.33). The business had revenue of $70.10 million during the quarter, compared to analyst estimates of $68.06 million. Veris Residential had a return on equity of 5.32% and a net margin of 24.74%. Equities research analysts forecast that Veris Residential will post 0.78 earnings per share for the current fiscal year.
Veris Residential Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, March 31st. Veris Residential's dividend payout ratio is 40.00%.
About Veris Residential
(
Get Free Report)
Veris Residential, Inc NYSE: VRE is a publicly traded real estate investment trust that focuses on the acquisition, development, ownership and management of high-quality, Class A multifamily residential communities. As a pure-play residential REIT, Veris Residential offers a range of apartment homes designed to appeal to both urban and suburban renters seeking modern living spaces enhanced with amenities and services.
The company's portfolio consists of contemporary apartment buildings that feature studio, one-, two- and three-bedroom floor plans.
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