Veris Residential (NYSE:VRE) Rating Increased to Buy at Wall Street Zen

Key Points

• Veris Residential has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, indicating positive sentiment from analysts regarding the stock's potential.
• The company reported earnings of $0.20 per share for the last quarter, beating the consensus estimate by $0.05, although revenue slightly missed expectations at $73.44 million.
• Institutional investors have increased their holdings in Veris Residential, with over 93% of the stock now owned by institutional investors and hedge funds, suggesting strong confidence in the company's outlook.

Veris Residential (NYSE:VRE - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

Several other research analysts have also recently weighed in on VRE. Evercore ISI boosted 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 report on Friday, July 25th. Weiss Ratings restated a "hold (c-)" rating on shares of Veris Residential in a research report on Wednesday, October 8th. Finally, BTIG Research cut their price target on Veris Residential from $26.00 to $22.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $19.20.

Veris Residential Stock Performance

Veris Residential stock opened at $15.05 on Friday. Veris Residential has a 12-month low of $13.69 and a 12-month high of $18.85. The stock has a 50-day simple moving average of $15.15 and a 200 day simple moving average of $15.03. The company has a quick ratio of 0.61, a current ratio of 0.53 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 22.47, a P/E/G ratio of 2.43 and a beta of 1.35.

Veris Residential (NYSE:VRE - Get Free Report) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.05. Veris Residential had a net margin of 22.09% and a return on equity of 4.72%. The firm had revenue of $73.44 million during the quarter, compared to analysts' expectations of $73.74 million. Veris Residential has set its FY 2025 guidance at 0.670-0.680 EPS. On average, research analysts anticipate that Veris Residential will post 0.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Veris Residential

Institutional investors have recently made changes to their positions in the stock. Cbre Investment Management Listed Real Assets LLC lifted its stake in Veris Residential by 17.1% in 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 buying an additional 167,145 shares during the period. New York State Common Retirement Fund boosted its holdings in shares of Veris Residential by 13.8% in the first quarter. New York State Common Retirement Fund now owns 24,786 shares of the company's stock valued at $419,000 after buying an additional 3,000 shares during the period. Cerity Partners LLC boosted its position in Veris Residential by 110.4% during the 1st quarter. Cerity Partners LLC now owns 21,403 shares of the company's stock worth $362,000 after acquiring an additional 11,231 shares during the last quarter. Northern Trust Corp increased its stake in Veris Residential by 0.9% in the 1st quarter. Northern Trust Corp now owns 1,538,788 shares of the company's stock valued at $26,036,000 after buying an additional 13,820 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Veris Residential in the first quarter valued at about $511,000. 93.04% of the stock is owned by institutional investors and hedge funds.

Veris Residential Company Profile

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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