Veris Residential, Inc. (NYSE:VRE) Receives $19.20 Consensus Target Price from Analysts

Veris Residential, Inc. (NYSE:VRE) has been given a consensus rating of “Hold” by the six analysts that are currently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to 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.

A number of research analysts have commented on VRE shares. BTIG Research decreased their price objective on Veris Residential from $26.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. Wall Street Zen raised shares of Veris Residential from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Weiss Ratings restated a “hold (c)” rating on shares of Veris Residential in a research note on Thursday. Finally, Evercore ISI lifted their price objective on shares of Veris Residential from $17.50 to $18.00 and gave the stock an “in-line” rating in a research note on Friday, July 25th.

Veris Residential Stock Down 0.9%

Veris Residential stock opened at $14.39 on Friday. The company’s 50-day moving average price is $15.16 and its two-hundred day moving average price is $15.00. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.13. The stock has a market cap of $1.34 billion, a P/E ratio of 21.47, a P/E/G ratio of 2.27 and a beta of 1.35. Veris Residential has a twelve month low of $13.69 and a twelve month high of $18.85.

Veris Residential (NYSE:VRE) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.05. The company 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. As a group, analysts expect that Veris Residential will post 0.61 EPS for the current year.

Veris Residential Dividend Announcement

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

Hedge Funds Weigh In On Veris Residential

Hedge funds have recently added to or reduced their stakes in the stock. Covestor Ltd raised its holdings in Veris Residential by 29.0% in the 3rd quarter. Covestor Ltd now owns 3,270 shares of the company’s stock valued at $49,000 after acquiring an additional 736 shares in the last quarter. Amalgamated Bank increased its position in shares of Veris Residential by 3.6% in the third quarter. Amalgamated Bank now owns 23,892 shares of the company’s stock worth $363,000 after purchasing an additional 827 shares during the period. Exchange Traded Concepts LLC raised its stake in Veris Residential by 1.9% in the third quarter. Exchange Traded Concepts LLC now owns 49,743 shares of the company’s stock valued at $756,000 after purchasing an additional 910 shares in the last quarter. Vert Asset Management LLC lifted its position in Veris Residential by 2.9% during the third quarter. Vert Asset Management LLC now owns 37,318 shares of the company’s stock worth $567,000 after purchasing an additional 1,062 shares during the period. Finally, Caxton Associates LLP lifted its position in Veris Residential by 5.5% during the second quarter. Caxton Associates LLP now owns 26,507 shares of the company’s stock worth $395,000 after purchasing an additional 1,383 shares during the period. Institutional investors own 93.04% of the company’s stock.

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.