Veris Residential (NYSE:VRE) Lowered to "Sell" Rating by Wall Street Zen

Wall Street Zen lowered shares of Veris Residential (NYSE:VRE - Free Report) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

Other equities analysts also recently issued research reports about the company. Evercore ISI reiterated an "in-line" rating and set a $18.00 price target (down previously from $20.00) on shares of Veris Residential in a report on Wednesday, February 26th. Truist Financial dropped their target price on shares of Veris Residential from $17.00 to $16.00 and set a "hold" rating on the stock in a report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Veris Residential has an average rating of "Hold" and a consensus target price of $18.50.

Veris Residential Stock Down 0.7%

Shares of VRE stock traded down $0.11 on Friday, hitting $15.03. The company's stock had a trading volume of 524,156 shares, compared to its average volume of 491,050. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of -46.95, a P/E/G ratio of 1.68 and a beta of 1.23. Veris Residential has a fifty-two week low of $14.12 and a fifty-two week high of $18.85. The firm's fifty day moving average price is $15.34 and its 200-day moving average price is $15.92. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.56 and a quick ratio of 0.56.

Veris Residential (NYSE:VRE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.03. The company had revenue of $67.76 million during the quarter, compared to analysts' expectations of $69.24 million. Veris Residential had a negative return on equity of 2.62% and a negative net margin of 11.02%. Research analysts anticipate that Veris Residential will post 0.61 EPS for the current year.

Veris Residential Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Monday, June 30th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.32 annualized dividend and a dividend yield of 2.13%. Veris Residential's payout ratio is -100.00%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in VRE. GF Fund Management CO. LTD. bought a new position in Veris Residential in the fourth quarter worth $25,000. Covestor Ltd raised its stake in shares of Veris Residential by 11,246.7% in the 4th quarter. Covestor Ltd now owns 1,702 shares of the company's stock valued at $28,000 after buying an additional 1,687 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Veris Residential by 824.6% during the 4th 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 period. Point72 Hong Kong Ltd acquired a new stake in shares of Veris Residential during the 4th quarter valued at about $45,000. Finally, State of Wyoming bought a new stake in Veris Residential in the fourth quarter valued at about $52,000. Institutional investors and hedge funds 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.