Veris Residential, Inc. (NYSE:VRE) Receives Consensus Recommendation of “Hold” from Brokerages

Veris Residential, Inc. (NYSE:VRE) has earned an average rating of “Hold” from the five brokerages that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $19.50.

A number of equities research analysts recently weighed in on the stock. Citigroup upped their target price on shares of Veris Residential from $16.00 to $19.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 1st. Wall Street Zen lowered shares of Veris Residential from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Truist Financial upped their price target on shares of Veris Residential from $15.00 to $19.00 and gave the company a “hold” rating in a research report on Tuesday, March 24th.

Veris Residential Stock Performance

Shares of VRE stock opened at $18.99 on Thursday. Veris Residential has a 12 month low of $13.69 and a 12 month high of $19.03. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.57 and a quick ratio of 0.57. The firm has a market capitalization of $1.78 billion, a P/E ratio of 24.66, a P/E/G ratio of 3.15 and a beta of 1.07. The company’s fifty day moving average price is $18.93 and its two-hundred day moving average price is $16.89.

Veris Residential (NYSE:VRE) last released its earnings results on Wednesday, April 22nd. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.33). Veris Residential had a return on equity of 5.34% and a net margin of 24.30%.The company had revenue of $70.10 million during the quarter, compared to the consensus estimate of $68.06 million. On average, research analysts anticipate that Veris Residential will post 0.78 earnings per share for the current fiscal year.

Institutional Trading of Veris Residential

Several large investors have recently modified their holdings of VRE. GAMMA Investing LLC lifted its holdings in shares of Veris Residential by 71.1% during the 4th quarter. GAMMA Investing LLC now owns 1,954 shares of the company’s stock worth $29,000 after acquiring an additional 812 shares during the period. Hantz Financial Services Inc. grew its position in shares of Veris Residential by 720.0% during the 3rd 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 period. Covestor Ltd grew its position in shares of 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 buying an additional 736 shares during the period. Quarry LP grew its position in shares of 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 buying an additional 3,815 shares during the period. Finally, Federation des caisses Desjardins du Quebec grew its position in shares of Veris Residential by 21.8% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 6,030 shares of the company’s stock worth $90,000 after buying an additional 1,078 shares during the period. 93.04% of the stock is owned by institutional investors.

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.