Veris Residential (NYSE:VRE) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Veris Residential (NYSE:VRE) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

VRE has been the topic of a number of other reports. Evercore ISI lifted their price target on Veris Residential from $17.50 to $18.00 and gave the company an “in-line” rating in a research note on Friday, July 25th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Veris Residential in a research note on Wednesday, November 19th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Veris Residential currently has a consensus rating of “Hold” and a consensus price target of $18.25.

Veris Residential Stock Performance

NYSE VRE opened at $14.91 on Friday. The firm’s fifty day moving average price is $14.91 and its two-hundred day moving average price is $14.91. The stock has a market cap of $1.39 billion, a PE ratio of 22.25, a PEG ratio of 2.27 and a beta of 1.32. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.53 and a current ratio of 0.53. Veris Residential has a fifty-two week low of $13.69 and a fifty-two week high of $18.61.

Veris Residential (NYSE:VRE) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $0.20 EPS for the quarter, beating 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. On average, equities analysts expect that Veris Residential will post 0.61 EPS for the current fiscal year.

Veris Residential Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.08 per share. The ex-dividend date is Wednesday, December 31st. This represents a $0.32 annualized dividend and a yield of 2.1%. Veris Residential’s dividend payout ratio (DPR) is presently 47.76%.

Institutional Investors Weigh In On Veris Residential

Several large investors have recently modified their holdings of the company. Hantz Financial Services Inc. raised its stake in Veris Residential by 720.0% during the third quarter. Hantz Financial Services Inc. now owns 2,132 shares of the company’s stock worth $32,000 after buying an additional 1,872 shares during the last quarter. Covestor Ltd grew its holdings in Veris Residential by 29.0% during the 3rd 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. Quarry LP grew its holdings in Veris Residential by 746.6% during the 3rd quarter. Quarry LP now owns 4,326 shares of the company’s stock worth $66,000 after acquiring an additional 3,815 shares during the period. CWM LLC raised its position in shares of Veris Residential by 925.9% in the 2nd quarter. CWM LLC now owns 7,017 shares of the company’s stock worth $104,000 after acquiring an additional 6,333 shares in the last quarter. Finally, AlphaQuest LLC lifted its stake in shares of Veris Residential by 49.5% in the 3rd quarter. AlphaQuest LLC now owns 8,399 shares of the company’s stock valued at $128,000 after purchasing an additional 2,780 shares during the period. 93.04% of the stock is currently owned by institutional investors and hedge funds.

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.