Shares of Veris Residential, Inc. (NYSE:VRE - Get Free Report) have received a consensus rating of "Hold" from the five research firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $19.20.
A number of brokerages have recently issued reports on VRE. Truist Financial reduced their price objective on shares of Veris Residential from $17.00 to $16.00 and set a "hold" rating for the company in a research note on Monday, May 5th. BTIG Research reduced their price objective 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. Wall Street Zen raised shares of Veris Residential from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Evercore ISI increased their price objective on shares of Veris Residential from $17.50 to $18.00 and gave the stock an "in-line" rating in a research note on Friday, July 25th.
Read Our Latest Research Report on VRE
Hedge Funds Weigh In On Veris Residential
A number of hedge funds and other institutional investors have recently modified their holdings of VRE. Wells Fargo & Company MN boosted its position in shares of Veris Residential by 6.4% during the fourth quarter. Wells Fargo & Company MN now owns 47,291 shares of the company's stock worth $786,000 after acquiring an additional 2,860 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Veris Residential by 26.8% during the fourth quarter. Russell Investments Group Ltd. now owns 43,071 shares of the company's stock worth $716,000 after acquiring an additional 9,102 shares during the last quarter. Invesco Ltd. boosted its position in shares of Veris Residential by 6.7% during the fourth quarter. Invesco Ltd. now owns 422,077 shares of the company's stock worth $7,019,000 after acquiring an additional 26,546 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Veris Residential during the fourth quarter worth $1,737,000. Finally, Sterling Capital Management LLC boosted its position in shares of Veris Residential by 824.6% during the fourth quarter. Sterling Capital Management LLC now owns 2,515 shares of the company's stock worth $42,000 after acquiring an additional 2,243 shares during the last quarter. Institutional investors own 93.04% of the company's stock.
Veris Residential Stock Performance
VRE stock traded up $0.0030 during midday trading on Friday, reaching $14.4230. 279,668 shares of the company's stock traded hands, compared to its average volume of 472,014. Veris Residential has a 52-week low of $13.69 and a 52-week high of $18.85. The stock has a market cap of $1.35 billion, a P/E ratio of -62.71, a PEG ratio of 2.47 and a beta of 1.24. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.47. The stock's 50-day moving average is $14.52 and its 200 day moving average is $15.35.
Veris Residential (NYSE:VRE - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $0.17 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.03. Veris Residential had a negative net margin of 7.84% and a negative return on equity of 1.89%. The business had revenue of $75.93 million during the quarter, compared to analysts' expectations of $69.06 million. Veris Residential has set its FY 2025 guidance at 0.630-0.640 EPS. As a group, analysts anticipate that Veris Residential will post 0.61 EPS for the current year.
Veris Residential Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Monday, June 30th were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.2%. Veris Residential's dividend payout ratio is -139.13%.
About Veris Residential
(
Get Free Report)
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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