Veris Residential, Inc. (NYSE:VRE) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Veris Residential, Inc. (NYSE:VRE) has received a consensus rating of "Hold" from five analysts, with three holding and two issuing buy ratings, while the average target price is $19.20.
• Recent institutional activity includes significant stakes acquired by several investors, including GF Fund Management and Lazard Asset Management, highlighting strong institutional interest in the stock.
• The company reported $0.17 earnings per share for the last quarter, exceeding expectations, and has announced a quarterly dividend of $0.08 set to be paid on October 10th.

Shares of Veris Residential, Inc. (NYSE:VRE - Get Free Report) have been assigned an average recommendation of "Hold" from the five analysts that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $19.20.

A number of research firms have commented on VRE. Wall Street Zen raised shares of Veris Residential from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Evercore ISI upped their target price on shares of Veris Residential from $17.50 to $18.00 and gave the stock an "in-line" rating in a research report on Friday, July 25th. Finally, BTIG Research lowered their price target 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.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. purchased a new stake in shares of Veris Residential in the 4th quarter valued at $25,000. Point72 Hong Kong Ltd purchased a new stake in Veris Residential during the fourth quarter valued at about $45,000. State of Wyoming bought a new position in shares of Veris Residential during the fourth quarter valued at about $52,000. CWM LLC grew its stake in shares of Veris Residential by 925.9% during the second quarter. CWM LLC now owns 7,017 shares of the company's stock valued at $104,000 after buying an additional 6,333 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of Veris Residential in the fourth quarter worth about $117,000. 93.04% of the stock is owned by hedge funds and other institutional investors.

Veris Residential Price Performance

NYSE:VRE opened at $15.97 on Thursday. Veris Residential has a 52-week low of $13.69 and a 52-week high of $18.85. The stock has a fifty day moving average of $14.73 and a 200 day moving average of $15.33. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.61 and a current ratio of 0.61. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of -69.41, a P/E/G ratio of 2.76 and a beta of 1.34.

Veris Residential (NYSE:VRE - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate 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. On average, research analysts expect that Veris Residential will post 0.61 EPS for the current fiscal year.

Veris Residential Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be given a $0.08 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.32 dividend on an annualized basis and a yield of 2.0%. Veris Residential's payout ratio is presently -139.13%.

About Veris Residential

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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