Veris Residential (NYSE:VRE) Issues FY 2024 Earnings Guidance

Veris Residential (NYSE:VRE) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.500-0.540 for the period, compared to the consensus earnings per share estimate of 0.540. The company issued revenue guidance of -.

Veris Residential Price Performance

Shares of VRE stock traded down $0.34 on Thursday, hitting $14.73. 680,351 shares of the company’s stock were exchanged, compared to its average volume of 678,931. The stock has a market cap of $1.36 billion, a P/E ratio of -11.99, a price-to-earnings-growth ratio of 2.92 and a beta of 1.23. Veris Residential has a 12 month low of $13.06 and a 12 month high of $18.98. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.01 and a quick ratio of 1.01. The company has a 50 day moving average of $14.83 and a 200 day moving average of $14.93.

Veris Residential Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Wednesday, April 3rd were paid a $0.052 dividend. The ex-dividend date was Tuesday, April 2nd. This represents a $0.21 annualized dividend and a dividend yield of 1.41%. Veris Residential’s dividend payout ratio is presently -17.07%.

Analyst Ratings Changes

Separately, Truist Financial reduced their price objective on Veris Residential from $15.00 to $14.00 and set a hold rating on the stock in a research note on Tuesday, April 9th.

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.