Veris Residential (NYSE:VRE) Hits New 1-Year Low at $13.40

Veris Residential, Inc. (NYSE:VREGet Rating)’s stock price hit a new 52-week low during trading on Wednesday . The company traded as low as $13.40 and last traded at $13.46, with a volume of 7083 shares trading hands. The stock had previously closed at $13.64.

A number of equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Veris Residential from $20.00 to $18.00 and set a “hold” rating for the company in a report on Thursday, March 24th. Truist Financial reduced their target price on shares of Veris Residential from $15.00 to $13.00 and set a “hold” rating for the company in a report on Friday, June 24th.

The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -8.58, a PEG ratio of 3.15 and a beta of 1.01. The company’s fifty day moving average price is $15.19. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.08 and a quick ratio of 1.08.

Veris Residential (NYSE:VREGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.27). Veris Residential had a negative return on equity of 9.63% and a negative net margin of 38.53%. During the same quarter in the previous year, the firm earned $0.18 EPS. As a group, equities research analysts forecast that Veris Residential, Inc. will post 0.54 EPS for the current year.

Veris Residential Company Profile (NYSE:VRE)

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.

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