Veris Residential (NYSE:VRE) Issues FY 2025 Earnings Guidance

Veris Residential (NYSE:VRE - Get Free Report) issued an update on its FY 2025 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.630-0.640 for the period, compared to the consensus EPS estimate of 0.623. The company issued revenue guidance of -.

Veris Residential Stock Up 0.4%

Shares of Veris Residential stock traded up $0.07 on Friday, reaching $14.65. The stock had a trading volume of 676,728 shares, compared to its average volume of 494,638. The company has a 50 day moving average price of $14.89 and a 200 day moving average price of $15.58. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.38. Veris Residential has a 1 year low of $14.12 and a 1 year high of $18.85. The stock has a market capitalization of $1.37 billion, a P/E ratio of -63.67, a P/E/G ratio of 1.61 and a beta of 1.21.

Veris Residential (NYSE:VRE - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.03. The company had revenue of $75.93 million for the quarter, compared to the consensus estimate of $69.06 million. Veris Residential had a negative net margin of 7.84% and a negative return on equity of 1.88%. As a group, equities research analysts forecast that Veris Residential will post 0.61 EPS for the current year.

Veris Residential Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Monday, June 30th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Monday, June 30th. Veris Residential's dividend payout ratio (DPR) is currently -100.00%.

Analyst Ratings Changes

Several research firms have recently commented on VRE. Wall Street Zen downgraded shares of Veris Residential from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. BTIG Research dropped their price objective on shares of Veris Residential from $26.00 to $22.00 and set a "buy" rating on the stock in a report on Wednesday. Evercore ISI boosted their target price on shares of Veris Residential from $17.50 to $18.00 and gave the company an "in-line" rating in a research note on Friday. Finally, Truist Financial decreased their target price 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $19.20.

Hedge Funds Weigh In On Veris Residential

A number of large investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Veris Residential by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,695 shares of the company's stock worth $790,000 after acquiring an additional 2,064 shares during the period. Royal Bank of Canada grew its holdings in shares of Veris Residential by 26.6% in the first quarter. Royal Bank of Canada now owns 17,263 shares of the company's stock valued at $292,000 after purchasing an additional 3,623 shares during the period. AQR Capital Management LLC grew its holdings in shares of Veris Residential by 88.8% in the first quarter. AQR Capital Management LLC now owns 54,273 shares of the company's stock valued at $911,000 after purchasing an additional 25,520 shares during the period. Jane Street Group LLC boosted its stake in Veris Residential by 234.4% during the first quarter. Jane Street Group LLC now owns 113,848 shares of the company's stock worth $1,926,000 after buying an additional 79,802 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of Veris Residential by 72.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,006,694 shares of the company's stock worth $17,033,000 after purchasing an additional 423,482 shares in the last quarter. 93.04% of the stock is currently 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.