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

Veris Residential (NYSE:VRE) updated its FY 2024 earnings guidance on Wednesday. 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 -.

Analyst Upgrades and Downgrades

VRE has been the topic of a number of research reports. Evercore ISI upped their price target 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. raised their target price on Veris Residential from $13.00 to $14.00 and gave the stock an “underweight” rating in a research note on Monday, September 16th.

Veris Residential Stock Performance

NYSE:VRE opened at $16.48 on Friday. 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 50 day moving average price of $17.42 and a 200 day moving average price of $16.02. Veris Residential has a fifty-two week low of $13.06 and a fifty-two week high of $18.18. The stock has a market capitalization of $1.53 billion, a P/E ratio of -96.94, a PEG ratio of 5.13 and a beta of 1.25.

Veris Residential Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th were paid a $0.07 dividend. This is a positive change from Veris Residential’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.28 annualized dividend and a dividend yield of 1.70%. Veris Residential’s dividend payout ratio (DPR) is presently -164.70%.

About Veris Residential

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.