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

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

Veris Residential Trading Up 0.5 %

Shares of NYSE VRE traded up $0.09 during midday trading on Wednesday, reaching $16.82. 325,622 shares of the stock were exchanged, compared to its average volume of 599,156. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $1.56 billion, a P/E ratio of -25.10, a P/E/G ratio of 5.26 and a beta of 1.25. The stock has a 50 day moving average price of $17.42 and a 200-day moving average price of $16.00. Veris Residential has a 52-week low of $13.06 and a 52-week high of $18.18.

Veris Residential Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Monday, September 30th were issued a $0.07 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from Veris Residential’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 1.66%. Veris Residential’s payout ratio is -41.79%.

Analyst Ratings Changes

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

Check Out Our Latest Stock Analysis on VRE

About Veris Residential

(Get Free Report)

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.

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