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

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

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Veris Residential in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $18.67.

Veris Residential Stock Performance

NYSE VRE opened at $18.86 on Friday. The business’s 50-day moving average price is $15.70 and its 200 day moving average price is $15.21. The company has a current ratio of 0.68, a quick ratio of 0.53 and a debt-to-equity ratio of 1.08. Veris Residential has a twelve month low of $13.69 and a twelve month high of $18.89. The company has a market capitalization of $1.76 billion, a PE ratio of 23.57, a price-to-earnings-growth ratio of 2.80 and a beta of 1.26.

Veris Residential (NYSE:VRE) last released its earnings results on Monday, February 23rd. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The firm had revenue of $71.31 million during the quarter, compared to the consensus estimate of $70.85 million. Veris Residential had a net margin of 26.08% and a return on equity of 5.73%. On average, research analysts predict that Veris Residential will post 0.61 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VRE. Madison International Realty Holdings LLC acquired a new stake in shares of Veris Residential in the 3rd quarter valued at about $78,875,000. Woodline Partners LP bought a new stake in shares of Veris Residential in the 3rd quarter valued at approximately $22,504,000. H 2 Credit Manager LP raised its position in shares of Veris Residential by 27.4% during the 4th quarter. H 2 Credit Manager LP now owns 5,472,814 shares of the company’s stock valued at $81,435,000 after acquiring an additional 1,175,500 shares in the last quarter. Balyasny Asset Management L.P. raised its position in shares of Veris Residential by 138.7% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,068,102 shares of the company’s stock valued at $15,904,000 after acquiring an additional 620,708 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Veris Residential in the fourth quarter worth $7,720,000. 93.04% of the stock is owned by institutional investors and hedge funds.

Veris Residential Company Profile

Veris Residential, Inc (NYSE: VRE) is a publicly traded real estate investment trust that focuses on the acquisition, development, ownership and management of high-quality, Class A multifamily residential communities. As a pure-play residential REIT, Veris Residential offers a range of apartment homes designed to appeal to both urban and suburban renters seeking modern living spaces enhanced with amenities and services.

The company’s portfolio consists of contemporary apartment buildings that feature studio, one-, two- and three-bedroom floor plans.