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 (EPS) guidance of 0.500-0.540 for the period, compared to the consensus estimate of 0.540. The company issued revenue guidance of -.

Analysts Set New Price Targets

Separately, Truist Financial cut their target price on Veris Residential from $15.00 to $14.00 and set a hold rating on the stock in a research note on Tuesday, April 9th.

Veris Residential Price Performance

Veris Residential stock traded down $0.08 during mid-day trading on Wednesday, hitting $15.07. The stock had a trading volume of 678,256 shares, compared to its average volume of 679,058. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.45. Veris Residential has a one year low of $13.06 and a one year high of $18.98. The firm’s 50 day moving average is $14.83 and its 200 day moving average is $14.93. The firm has a market capitalization of $1.39 billion, a P/E ratio of -12.25, a P/E/G ratio of 2.87 and a beta of 1.23.

Veris Residential Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Wednesday, April 3rd were given a $0.052 dividend. The ex-dividend date was Tuesday, April 2nd. This represents a $0.21 annualized dividend and a yield of 1.38%. Veris Residential’s dividend payout ratio is currently -17.07%.

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.