Veris Residential (NYSE:VRE) Issues 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 -.

Analyst Upgrades and Downgrades

Separately, Truist Financial decreased their target price on Veris Residential from $15.00 to $14.00 and set a hold rating for the company in a report on Tuesday, April 9th.

Veris Residential Trading Down 0.6 %

NYSE VRE traded down $0.09 on Wednesday, reaching $15.06. 678,256 shares of the company were exchanged, compared to its average volume of 679,058. Veris Residential has a fifty-two week low of $13.06 and a fifty-two week high of $18.98. The business’s fifty day moving average price is $14.83 and its 200 day moving average price is $14.93. The stock has a market capitalization of $1.39 billion, a P/E ratio of -12.24, a price-to-earnings-growth ratio of 2.87 and a beta of 1.23. 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 Announces Dividend

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

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.