Evercore ISI Lowers Veris Residential (NYSE:VRE) Price Target to $16.00

Veris Residential (NYSE:VREFree Report) had its target price trimmed by Evercore ISI from $17.00 to $16.00 in a report issued on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research analysts have also issued reports on VRE. Truist Financial cut their target price on shares of Veris Residential from $15.00 to $14.00 and set a hold rating on the stock in a research note on Tuesday, April 9th. JPMorgan Chase & Co. increased their target price on shares of Veris Residential from $11.00 to $13.00 and gave the stock an underweight rating in a research note on Monday, June 17th.

Check Out Our Latest Analysis on VRE

Veris Residential Trading Up 1.5 %

VRE opened at $14.48 on Thursday. Veris Residential has a twelve month low of $13.06 and a twelve month high of $18.98. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 1.46. The company has a fifty day moving average of $14.97 and a 200-day moving average of $15.10. The stock has a market cap of $1.34 billion, a PE ratio of -14.48, a price-to-earnings-growth ratio of 4.57 and a beta of 1.25.

Veris Residential Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 16th. Stockholders of record on Wednesday, July 3rd will be paid a $0.06 dividend. This is an increase from Veris Residential’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $0.24 annualized dividend and a dividend yield of 1.66%. Veris Residential’s dividend payout ratio (DPR) is presently -21.00%.

Hedge Funds Weigh In On Veris Residential

Large investors have recently modified their holdings of the company. Tidal Investments LLC lifted its holdings in shares of Veris Residential by 268.8% in the 1st quarter. Tidal Investments LLC now owns 50,959 shares of the company’s stock worth $775,000 after acquiring an additional 37,141 shares during the last quarter. Levin Capital Strategies L.P. bought a new stake in shares of Veris Residential in the 1st quarter worth approximately $532,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Veris Residential by 6.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,796 shares of the company’s stock worth $758,000 after acquiring an additional 2,826 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Veris Residential in the 1st quarter worth approximately $156,000. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in shares of Veris Residential by 1.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 161,072 shares of the company’s stock worth $2,445,000 after acquiring an additional 2,172 shares during the last quarter. 93.04% of the stock is currently owned by institutional investors.

Veris Residential Company Profile

(Get Free Report)

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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