Veris Residential (VRE) to Release Quarterly Earnings on Wednesday

Veris Residential (NYSE:VRE) will announce its earnings results after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of $0.12 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Veris Residential (NYSE:VRE) last issued its earnings results on Wednesday, July 24th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.11). Veris Residential had a negative return on equity of 8.55% and a negative net margin of 21.79%. The firm had revenue of $67.48 million for the quarter, compared to analyst estimates of $67.73 million. During the same period in the previous year, the company earned $0.16 earnings per share. On average, analysts expect Veris Residential to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Veris Residential Price Performance

Shares of NYSE:VRE opened at $17.22 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.33. Veris Residential has a twelve month low of $13.06 and a twelve month high of $18.18. The stock’s 50 day moving average is $17.35 and its 200-day moving average is $15.91. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of -17.22, a PEG ratio of 5.26 and a beta of 1.25.

Veris Residential Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.63%. This is a positive change from Veris Residential’s previous quarterly dividend of $0.06. The ex-dividend date was Monday, September 30th. Veris Residential’s dividend payout ratio is presently -28.00%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on VRE shares. JPMorgan Chase & Co. upped their target price on Veris Residential from $13.00 to $14.00 and gave the stock an “underweight” rating in a research report on Monday, September 16th. Evercore ISI upped their price target on Veris Residential from $17.00 to $19.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th.

Veris Residential Company Profile

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.