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

Veris Residential (NYSE:VRE) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.590-0.600 for the period, compared to the consensus EPS estimate of 0.550. The company issued revenue guidance of -.

Veris Residential Trading Up 0.5 %

Shares of VRE traded up $0.09 during mid-day trading on Wednesday, reaching $16.82. 325,622 shares of the company were exchanged, compared to its average volume of 599,156. The business has a 50 day simple moving average of $17.42 and a two-hundred day simple moving average of $15.99. 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 stock has a market capitalization of $1.56 billion, a PE ratio of -25.24, a PEG ratio of 5.26 and a beta of 1.25. Veris Residential has a 52 week low of $13.06 and a 52 week high of $18.18.

Veris Residential Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Monday, September 30th were issued a dividend of $0.07 per share. 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 yield of 1.66%. Veris Residential’s dividend payout ratio (DPR) is presently -41.79%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on VRE shares. Evercore ISI upped their price objective on shares of Veris Residential from $17.00 to $19.00 and gave the company an “outperform” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. upped their price target on shares of Veris Residential from $13.00 to $14.00 and gave the company an “underweight” rating in a research report on Monday, September 16th.

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.