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

Shares of Veris Residential, Inc. (NYSE:VRE) have earned an average recommendation of “Hold” from the six analysts that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $19.20.

VRE has been the subject of several recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Veris Residential in a research note on Thursday. Wall Street Zen upgraded shares of Veris Residential from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. BTIG Research lowered their price target on shares of Veris Residential from $26.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. Finally, Evercore ISI increased their price target on shares of Veris Residential from $17.50 to $18.00 and gave the company an “in-line” rating in a report on Friday, July 25th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Covestor Ltd boosted its position in shares of Veris Residential by 29.0% during the 3rd quarter. Covestor Ltd now owns 3,270 shares of the company’s stock worth $49,000 after acquiring an additional 736 shares in the last quarter. CWM LLC boosted its position in shares of Veris Residential by 925.9% during the 2nd quarter. CWM LLC now owns 7,017 shares of the company’s stock worth $104,000 after acquiring an additional 6,333 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Veris Residential by 307.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,617 shares of the company’s stock worth $128,000 after acquiring an additional 6,500 shares in the last quarter. Magnetar Financial LLC acquired a new stake in shares of Veris Residential during the 1st quarter worth approximately $195,000. Finally, Natixis Advisors LLC acquired a new stake in shares of Veris Residential during the 1st quarter worth approximately $202,000. 93.04% of the stock is owned by institutional investors.

Veris Residential Trading Up 1.3%

Shares of NYSE:VRE opened at $14.49 on Friday. Veris Residential has a 52-week low of $13.69 and a 52-week high of $18.85. The company has a market capitalization of $1.35 billion, a P/E ratio of 21.62, a price-to-earnings-growth ratio of 2.27 and a beta of 1.35. The company has a 50-day simple moving average of $15.17 and a 200 day simple moving average of $15.01. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.53 and a current ratio of 0.53.

Veris Residential (NYSE:VRE) last issued its earnings results on Wednesday, October 22nd. The company reported $0.20 earnings per share (EPS) 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 business had revenue of $73.44 million during the quarter, compared to the consensus estimate of $73.74 million. Veris Residential has set its FY 2025 guidance at 0.670-0.680 EPS. Sell-side analysts forecast that Veris Residential will post 0.61 earnings per share for the current year.

Veris Residential Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Tuesday, September 30th. Veris Residential’s dividend payout ratio is currently 47.76%.

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.