Veris Residential (NYSE:VRE) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Veris Residential (NYSE:VRE) released its quarterly earnings data on Monday. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01), Zacks reports. Veris Residential had a negative net margin of 5.70% and a negative return on equity of 4.97%.

Veris Residential Stock Performance

VRE stock traded up $0.36 during trading on Monday, reaching $16.02. 740,188 shares of the company’s stock were exchanged, compared to its average volume of 359,853. Veris Residential has a 1-year low of $13.84 and a 1-year high of $18.85. The firm has a market cap of $1.49 billion, a PE ratio of -94.23, a P/E/G ratio of 2.50 and a beta of 1.27. The company’s fifty day moving average price is $16.11 and its 200-day moving average price is $16.96. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.34.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Bank of America raised shares of Veris Residential from a “neutral” rating to a “buy” rating and boosted their price target for the company from $20.00 to $23.00 in a report on Tuesday, November 12th. JPMorgan Chase & Co. upgraded shares of Veris Residential from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $14.00 to $17.00 in a research report on Tuesday, December 17th.

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.