Veris Residential (NYSE:VRE) Stock Rating Upgraded by Wall Street Zen

Veris Residential (NYSE:VRE) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

A number of other analysts have also issued reports on VRE. Evercore ISI raised their target price on Veris Residential from $17.50 to $18.00 and gave the company an “in-line” rating in a report on Friday, July 25th. Weiss Ratings reissued a “hold (c-)” rating on shares of Veris Residential in a research report on Wednesday, October 8th. Finally, BTIG Research dropped their target price on shares of Veris Residential from $26.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $19.20.

Veris Residential Stock Performance

NYSE:VRE opened at $15.05 on Friday. The firm has a market capitalization of $1.41 billion, a PE ratio of 22.47, a PEG ratio of 2.44 and a beta of 1.35. Veris Residential has a 1 year low of $13.69 and a 1 year high of $18.85. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.13. The firm’s fifty day simple moving average is $15.15 and its 200 day simple moving average is $15.03.

Veris Residential (NYSE:VRE) last released its quarterly earnings results on Wednesday, October 22nd. The company reported $0.20 earnings per share (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 net margin of 22.09% and a return on equity of 4.72%. Veris Residential has set its FY 2025 guidance at 0.670-0.680 EPS. On average, sell-side analysts anticipate that Veris Residential will post 0.61 EPS for the current year.

Institutional Investors Weigh In On Veris Residential

Several institutional investors and hedge funds have recently bought and sold shares of the business. Exchange Traded Concepts LLC increased its holdings in Veris Residential by 1.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 49,743 shares of the company’s stock valued at $756,000 after buying an additional 910 shares during the period. Caxton Associates LLP increased its holdings in Veris Residential by 5.5% in the 2nd quarter. Caxton Associates LLP now owns 26,507 shares of the company’s stock valued at $395,000 after buying an additional 1,383 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Veris Residential by 3.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 46,217 shares of the company’s stock valued at $688,000 after buying an additional 1,499 shares during the period. Police & Firemen s Retirement System of New Jersey increased its holdings in Veris Residential by 11.4% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 17,723 shares of the company’s stock valued at $264,000 after buying an additional 1,814 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Veris Residential by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,695 shares of the company’s stock valued at $790,000 after buying an additional 2,064 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.