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

Veris Residential (NYSE:VRE) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.590-0.600 for the period, compared to the consensus earnings per share estimate of 0.550. The company issued revenue guidance of -.

Veris Residential Trading Down 2.3 %

Shares of VRE stock traded down $0.38 during trading hours on Friday, hitting $16.09. 366,100 shares of the company’s stock traded hands, compared to its average volume of 597,976. Veris Residential has a 12 month low of $13.27 and a 12 month high of $18.18. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.33. The stock’s 50 day simple moving average is $17.40 and its 200 day simple moving average is $16.03. The stock has a market cap of $1.49 billion, a PE ratio of -94.64, a price-to-earnings-growth ratio of 5.13 and a beta of 1.25.

Veris Residential Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th were given a dividend of $0.07 per share. The ex-dividend date was Monday, September 30th. This is a boost from Veris Residential’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 1.74%. Veris Residential’s dividend payout ratio is -164.70%.

Analyst Upgrades and Downgrades

VRE has been the subject of a number of research reports. Evercore ISI raised their price target on shares of Veris Residential from $17.00 to $19.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. raised their price target on shares of Veris Residential from $13.00 to $14.00 and gave the stock an “underweight” rating in a report on Monday, September 16th.

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.