The price of Veris Residential Inc. (NYSE:VRE) shares last traded on Wall Street fell -2.16% to $16.27.
Based on available information, 6 analysts follow Veris Residential Inc. (NYSE:VRE). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $22.00 and a low of $16.00, we find $17.00. Given the previous closing price of $16.63, this indicates a potential upside of 2.22 percent. VRE stock price is now 2.76% away from the 50-day moving average and 11.04% away from the 200-day moving average. The market capitalization of the company currently stands at $1.49B.
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Among analysts, 5 rate the stock a hold while 1 rate it a buy. Brokers who have rated the stock have averaged $17.67 as their price target over the next twelve months.
With the price target enhanced from $16 to $18, BofA Securities Upgraded its rating from Underperform to Neutral for Veris Residential Inc. (NYSE: VRE)..
In other news, KATZ A. AKIVA, Director bought 75,364 shares of the company’s stock on Oct 14. The stock was bought for $913,178 at an average price of $12.12. Upon completion of the transaction, the Director now directly owns 5,306,537 shares in the company, valued at $86.34 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 13, Director KATZ A. AKIVA bought 149,890 shares of the business’s stock. A total of $1,793,434 was incurred on buying the stock at an average price of $11.96. This leaves the insider owning 5,231,173 shares of the company worth $85.11 million. Insiders disposed of 20,083 shares of company stock worth roughly $0.33 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in VRE stock. A new stake in Veris Residential Inc. shares was purchased by TUDOR INVESTMENT CORP ET AL during the first quarter worth $2,081,000. GSA CAPITAL PARTNERS LLP invested $889,000 in shares of VRE during the first quarter. In the first quarter, CITADEL ADVISORS LLC acquired a new stake in Veris Residential Inc. valued at approximately $669,000. AMALGAMATED FINANCIAL CORP. acquired a new stake in VRE for approximately $601,000. MARYLAND STATE RETIREMENT & PENSION SYSTEM purchased a new stake in VRE valued at around $533,000 in the second quarter. In total, there are 252 active investors with 96.60% ownership of the company’s stock.
A candlestick chart of Veris Residential Inc. (NYSE: VRE) showed a price of $16.55 on Wednesday morning. During the past 12 months, Veris Residential Inc. has had a low of $10.22 and a high of $18.75. The fifty day moving average price for VRE is $15.83 and a two-hundred day moving average price translates $14.65 for the stock.
The latest earnings results from Veris Residential Inc. (NYSE: VRE) was released for Jun, 2022. According to the REIT – Residential Company, earnings per share came in at $0.26, beating analysts’ expectations of -$0.13 by 0.39. This compares to -$0.33 EPS in the same period last year. The net profit margin was -33.00% and return on equity was -9.30% for VRE. The company reported revenue of $91.36 million for the quarter, compared to $82.18 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 11.16 percent. For the current quarter, analysts expect VRE to generate $79.79M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/24/2020. Investors who held shares on 07/13/2020 were paid a $0.20 dividend.
Veris Residential Inc.(VRE) 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. The company is guided by an experienced management team and Board of Directors and is underpinned by leading corporate governance principles, a best-in-class and sustainable approach to operations, and an inclusive culture based on equality and meritocratic empowerment. For additional information on Veris Residential, Inc. and our properties available for lease, please visit http://www.verisresidential.com/.
