Veris Residential (NYSE:VRE) Stock Rating Lowered by Wall Street Zen

Veris Residential (NYSE:VRE) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

A number of other research analysts also recently issued reports on VRE. Evercore ISI raised their price target 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. Weiss Ratings reissued a “hold (c-)” rating on shares of Veris Residential in a report on Wednesday. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $18.25.

Veris Residential Trading Up 1.0%

NYSE:VRE opened at $15.14 on Friday. The company has a market cap of $1.41 billion, a PE ratio of 22.60, a P/E/G ratio of 2.27 and a beta of 1.32. The business’s 50 day moving average is $14.92 and its two-hundred day moving average is $14.93. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.13. Veris Residential has a 52 week low of $13.69 and a 52 week high of $18.61.

Veris Residential (NYSE:VRE) last posted its quarterly 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. The business had revenue of $73.44 million for the quarter, compared to analyst estimates 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, analysts predict that Veris Residential will post 0.61 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Adelante Capital Management LLC increased its stake in shares of Veris Residential by 1.9% in the third quarter. Adelante Capital Management LLC now owns 752,225 shares of the company’s stock valued at $11,434,000 after purchasing an additional 14,280 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in Veris Residential by 2.0% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 194,332 shares of the company’s stock worth $2,910,000 after buying an additional 3,870 shares in the last quarter. Woodline Partners LP acquired a new stake in Veris Residential in the 3rd quarter valued at approximately $22,504,000. PharVision Advisers LLC acquired a new stake in Veris Residential in the 3rd quarter valued at approximately $403,000. Finally, Verition Fund Management LLC bought a new stake in Veris Residential during the 3rd quarter valued at $298,000. Institutional investors own 93.04% of the company’s stock.

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.