Veris Residential (NYSE:VRE) Releases FY 2024 Earnings Guidance

Veris Residential (NYSE:VRE) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.500-0.540 for the period, compared to the consensus EPS estimate of 0.540. The company issued revenue guidance of -.

Analyst Ratings Changes

Separately, Truist Financial cut their price target on shares of 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 Stock Down 0.6 %

Shares of VRE traded down $0.09 during mid-day trading on Wednesday, hitting $15.06. 678,256 shares of the company’s stock were exchanged, compared to its average volume of 679,058. The firm has a fifty day moving average of $14.83 and a two-hundred day moving average of $14.93. Veris Residential has a twelve month low of $13.06 and a twelve month high of $18.98. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -12.24, a P/E/G ratio of 2.87 and a beta of 1.23. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.45.

Veris Residential Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Wednesday, April 3rd were paid 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 dividend 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.