Veris Residential, Inc. (NYSE:VRE) to Issue Quarterly Dividend of $0.08

Veris Residential, Inc. (NYSE:VRE) declared a quarterly dividend on Wednesday, March 4th. Shareholders of record on Tuesday, March 31st will be given a dividend of 0.08 per share on Friday, April 10th. This represents a c) annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, March 31st.

Veris Residential has decreased its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 1 years. Veris Residential has a dividend payout ratio of -177.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Veris Residential to earn $0.61 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 52.5%.

Veris Residential Stock Performance

Shares of VRE stock opened at $18.86 on Thursday. The stock’s 50-day moving average is $15.95 and its two-hundred day moving average is $15.32. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.68 and a current ratio of 0.68. Veris Residential has a 1 year low of $13.69 and a 1 year high of $18.89. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 3.31 and a beta of 1.21.

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

About Veris Residential

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.