Veris Residential, Inc. (NYSE:VRE) Receives Consensus Rating of “Hold” from Analysts

Shares of Veris Residential, Inc. (NYSE:VRE) have been assigned an average recommendation of “Hold” from the five analysts that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $19.20.

A number of research firms have commented on VRE. Wall Street Zen raised shares of Veris Residential from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Evercore ISI upped their target price 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. Finally, BTIG Research lowered their price target on Veris Residential from $26.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, July 23rd.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. purchased a new stake in shares of Veris Residential in the 4th quarter valued at $25,000. Point72 Hong Kong Ltd purchased a new stake in Veris Residential during the fourth quarter valued at about $45,000. State of Wyoming bought a new position in shares of Veris Residential during the fourth quarter valued at about $52,000. CWM LLC grew its stake in shares of Veris Residential by 925.9% during the second quarter. CWM LLC now owns 7,017 shares of the company’s stock valued at $104,000 after buying an additional 6,333 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of Veris Residential in the fourth quarter worth about $117,000. 93.04% of the stock is owned by hedge funds and other institutional investors.

Veris Residential Price Performance

NYSE:VRE opened at $15.97 on Thursday. Veris Residential has a 52-week low of $13.69 and a 52-week high of $18.85. The stock has a fifty day moving average of $14.73 and a 200 day moving average of $15.33. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.61 and a current ratio of 0.61. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of -69.41, a P/E/G ratio of 2.76 and a beta of 1.34.

Veris Residential (NYSE:VRE) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.03. Veris Residential had a negative return on equity of 1.89% and a negative net margin of 7.84%.The firm had revenue of $75.93 million for the quarter, compared to analysts’ expectations of $69.06 million. Veris Residential has set its FY 2025 guidance at 0.630-0.640 EPS. On average, research analysts expect that Veris Residential will post 0.61 EPS for the current fiscal year.

Veris Residential Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be given a $0.08 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.32 dividend on an annualized basis and a yield of 2.0%. Veris Residential’s payout ratio is presently -139.13%.

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.