Veris Residential (VRE) Scheduled to Post Earnings on Wednesday

Veris Residential (NYSE:VRE) will release its earnings data after the market closes on Wednesday, July 24th. Analysts expect Veris Residential to post earnings of $0.13 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Veris Residential Trading Up 1.9 %

Shares of VRE stock opened at $15.87 on Tuesday. The business’s fifty day moving average is $15.15 and its 200 day moving average is $15.06. Veris Residential has a 52-week low of $13.06 and a 52-week high of $18.98. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.35 and a current ratio of 2.35. The company has a market capitalization of $1.47 billion, a PE ratio of -15.87, a price-to-earnings-growth ratio of 4.89 and a beta of 1.26.

Veris Residential Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 16th. Shareholders of record on Wednesday, July 3rd were given a dividend of $0.06 per share. This is an increase from Veris Residential’s previous quarterly dividend of $0.05. The ex-dividend date was Wednesday, July 3rd. This represents a $0.24 dividend on an annualized basis and a yield of 1.51%. Veris Residential’s dividend payout ratio (DPR) is presently -24.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on VRE shares. Evercore ISI lowered their price target on Veris Residential from $17.00 to $16.00 and set an “outperform” rating on the stock in a research report on Thursday, June 20th. Truist Financial lowered their price target on Veris Residential from $15.00 to $14.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Finally, JPMorgan Chase & Co. raised their price target on Veris Residential from $11.00 to $13.00 and gave the company an “underweight” rating in a research report on Monday, June 17th.

Insider Activity

In other Veris Residential news, CEO Mahbod Nia bought 35,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were bought at an average cost of $14.32 per share, with a total value of $501,200.00. Following the completion of the purchase, the chief executive officer now directly owns 380,869 shares of the company’s stock, valued at $5,454,044.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Veris Residential news, CEO Mahbod Nia bought 35,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were bought at an average cost of $14.32 per share, with a total value of $501,200.00. Following the completion of the purchase, the chief executive officer now directly owns 380,869 shares of the company’s stock, valued at $5,454,044.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nori Gerardo Lietz bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was acquired at an average cost of $14.31 per share, for a total transaction of $143,100.00. Following the completion of the purchase, the director now directly owns 39,687 shares of the company’s stock, valued at $567,920.97. The disclosure for this purchase can be found here. Insiders own 15.00% of the company’s stock.

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.