Weiss Ratings Reiterates Hold (C) Rating for Veris Residential (NYSE:VRE)

Veris Residential (NYSE:VRE)‘s stock had its “hold (c)” rating reissued by investment analysts at Weiss Ratings in a note issued to investors on Thursday,Weiss Ratings reports.

Several other research analysts also recently weighed in on the stock. Evercore ISI upped their price objective on shares of Veris Residential from $17.50 to $18.00 and gave the stock an “in-line” rating in a report on Friday, July 25th. BTIG Research decreased their target price on shares of Veris Residential from $26.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, July 23rd. Finally, Wall Street Zen raised shares of Veris Residential from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $19.20.

Veris Residential Stock Performance

Shares of VRE opened at $14.39 on Thursday. Veris Residential has a one year low of $13.69 and a one year high of $18.85. The company has a market cap of $1.34 billion, a PE ratio of 21.47, a P/E/G ratio of 2.27 and a beta of 1.35. The stock has a 50-day moving average of $15.16 and a 200-day moving average of $15.01. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.53 and a quick ratio of 0.53.

Veris Residential (NYSE:VRE) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.05. The firm had revenue of $73.44 million during the quarter, compared to analysts’ expectations of $73.74 million. Veris Residential had a return on equity of 4.72% and a net margin of 22.09%. Veris Residential has set its FY 2025 guidance at 0.670-0.680 EPS. On average, equities research analysts predict that Veris Residential will post 0.61 EPS for the current fiscal year.

Institutional Trading of Veris Residential

A number of institutional investors and hedge funds have recently modified their holdings of the business. Covestor Ltd raised its position in Veris Residential by 29.0% in the third quarter. Covestor Ltd now owns 3,270 shares of the company’s stock worth $49,000 after acquiring an additional 736 shares during the period. CWM LLC increased its stake 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 purchasing an additional 6,333 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Veris Residential by 307.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,617 shares of the company’s stock worth $128,000 after purchasing an additional 6,500 shares during the period. Magnetar Financial LLC purchased a new position in Veris Residential in the first quarter valued at approximately $195,000. Finally, Metis Global Partners LLC grew its holdings in Veris Residential by 30.8% during the second quarter. Metis Global Partners LLC now owns 13,390 shares of the company’s stock valued at $199,000 after purchasing an additional 3,153 shares during the period. 93.04% of the stock is owned by hedge funds and other institutional investors.

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.