Veris Residential (NYSE:VRE) Issues Earnings Results

Veris Residential (NYSE:VRE) issued its quarterly earnings data on Monday. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.01), Zacks reports. Veris Residential had a negative return on equity of 4.97% and a negative net margin of 5.70%. The firm had revenue of $68.08 million for the quarter, compared to analyst estimates of $66.98 million. Veris Residential updated its FY 2025 guidance to 0.610-0.630 EPS.

Veris Residential Stock Performance

Veris Residential stock opened at $16.22 on Wednesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.73 and a quick ratio of 0.73. Veris Residential has a 12 month low of $13.84 and a 12 month high of $18.85. The company has a market cap of $1.51 billion, a price-to-earnings ratio of -95.38, a price-to-earnings-growth ratio of 2.50 and a beta of 1.27. The stock’s 50-day moving average is $16.06 and its 200-day moving average is $16.97.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Bank of America upgraded shares of Veris Residential from a “neutral” rating to a “buy” rating and raised their target price for the company from $20.00 to $23.00 in a report on Tuesday, November 12th. JPMorgan Chase & Co. upgraded Veris Residential from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $14.00 to $17.00 in a report on Tuesday, December 17th. Finally, Evercore ISI restated an “in-line” rating and issued a $18.00 target price (down from $20.00) on shares of Veris Residential in a report on Wednesday.

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.