Veris Residential (NYSE:VRE) Earns "Hold (C-)" Rating from Weiss Ratings

Key Points

• Weiss Ratings has reissued a "hold (C-)" rating for Veris Residential (NYSE:VRE), indicating a cautious outlook.
• Two analysts have rated the stock as "Buy" while four have assigned a "Hold" rating, with a consensus price target of $19.20.
• Veris Residential reported $0.17 EPS for the last quarter, surpassing estimates and had a revenue of $75.93 million, exceeding projections.

Veris Residential (NYSE:VRE - Get Free Report)'s stock had its "hold (c-)" rating reissued by equities research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

VRE has been the topic of a number of other research reports. Evercore ISI raised their target price on Veris Residential from $17.50 to $18.00 and gave the company an "in-line" rating in a report on Friday, July 25th. BTIG Research reduced their target price on Veris Residential from $26.00 to $22.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Finally, Wall Street Zen upgraded Veris Residential from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $19.20.

Veris Residential Price Performance

NYSE:VRE traded up $0.01 during trading hours on Wednesday, reaching $14.54. 215,062 shares of the company were exchanged, compared to its average volume of 529,955. The company has a market capitalization of $1.36 billion, a P/E ratio of -63.20, a P/E/G ratio of 2.50 and a beta of 1.35. Veris Residential has a 1-year low of $13.69 and a 1-year high of $18.85. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.61 and a quick ratio of 0.61. The business has a 50 day moving average of $14.99 and a 200 day moving average of $15.17.

Veris Residential (NYSE:VRE - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.03. The business had revenue of $75.93 million for the quarter, compared to the consensus estimate of $69.06 million. Veris Residential had a negative return on equity of 1.89% and a negative net margin of 7.84%. Veris Residential has set its FY 2025 guidance at 0.630-0.640 EPS. Research analysts forecast that Veris Residential will post 0.61 EPS for the current year.

Institutional Investors Weigh In On Veris Residential

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Exchange Traded Concepts LLC purchased a new position in Veris Residential in the first quarter worth $810,000. Cbre Investment Management Listed Real Assets LLC raised its stake in shares of Veris Residential by 17.1% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,142,407 shares of the company's stock valued at $19,330,000 after acquiring an additional 167,145 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of Veris Residential by 13.8% during the first quarter. New York State Common Retirement Fund now owns 24,786 shares of the company's stock valued at $419,000 after acquiring an additional 3,000 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Veris Residential by 1,629.2% during the first quarter. GAMMA Investing LLC now owns 22,808 shares of the company's stock valued at $386,000 after acquiring an additional 21,489 shares during the last quarter. Finally, Cerity Partners LLC raised its stake in shares of Veris Residential by 110.4% during the first quarter. Cerity Partners LLC now owns 21,403 shares of the company's stock valued at $362,000 after acquiring an additional 11,231 shares during the last quarter. Institutional investors own 93.04% of the company's stock.

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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