Veris Residential (VRE) Scheduled to Post Earnings on Wednesday

Veris Residential (NYSE:VRE) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, April 24th. Analysts expect Veris Residential to post earnings of $0.11 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Veris Residential Price Performance

Veris Residential stock opened at $13.97 on Wednesday. The business has a 50-day simple moving average of $14.89 and a 200 day simple moving average of $14.98. Veris Residential has a 52 week low of $13.06 and a 52 week high of $18.98. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -11.36, a PEG ratio of 2.77 and a beta of 1.23. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.45.

Veris Residential Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Wednesday, April 3rd were given a $0.052 dividend. This represents a $0.21 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend was Tuesday, April 2nd. Veris Residential’s dividend payout ratio (DPR) is -17.07%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC grew its holdings in shares of Veris Residential by 371.5% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,263 shares of the company’s stock valued at $33,000 after purchasing an additional 1,783 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Veris Residential by 53.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,824 shares of the company’s stock worth $45,000 after buying an additional 981 shares during the period. Captrust Financial Advisors purchased a new stake in Veris Residential during the 2nd quarter valued at about $61,000. M&T Bank Corp bought a new position in Veris Residential during the 3rd quarter worth approximately $115,000. Finally, Metropolitan Life Insurance Co NY grew its position in Veris Residential by 9.2% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 7,763 shares of the company’s stock worth $124,000 after acquiring an additional 651 shares during the last quarter. 93.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Truist Financial cut their price target on shares of Veris Residential from $15.00 to $14.00 and set a “hold” rating for the company in a research note on Tuesday, April 9th.

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.