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

Veris Residential (NYSE:VREGet Free Report) updated its FY 2024 earnings guidance on Wednesday. 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 1.3 %

VRE traded up $0.22 on Thursday, reaching $17.04. 145,519 shares of the company’s stock were exchanged, compared to its average volume of 597,006. Veris Residential has a twelve month low of $13.06 and a twelve month high of $18.18. The company’s 50 day moving average is $17.42 and its 200-day moving average is $16.00. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market cap of $1.58 billion, a price-to-earnings ratio of -25.10, a PEG ratio of 5.26 and a beta of 1.25.

Veris Residential Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th were paid 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 dividend yield of 1.64%. Veris Residential’s dividend payout ratio is -41.79%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. raised their price objective on Veris Residential from $13.00 to $14.00 and gave the company an “underweight” rating in a research note on Monday, September 16th. 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 research report on Wednesday, August 28th.

View Our Latest Analysis on Veris Residential

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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