Veris Residential (NYSE:VRE) Posts Earnings Results, Misses Expectations By $0.01 EPS

Veris Residential (NYSE:VRE) issued its quarterly earnings results on Monday. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01), Zacks reports. Veris Residential had a negative return on equity of 4.97% and a negative net margin of 5.70%.

Veris Residential Stock Performance

VRE stock traded up $0.36 during trading on Monday, hitting $16.02. 740,188 shares of the company’s stock traded hands, compared to its average volume of 359,853. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of -94.23, a price-to-earnings-growth ratio of 2.50 and a beta of 1.27. Veris Residential has a 52 week low of $13.84 and a 52 week high of $18.85. The stock has a fifty day moving average price of $16.11 and a two-hundred day moving average price of $16.96. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.34.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on VRE. JPMorgan Chase & Co. raised shares of Veris Residential from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $14.00 to $17.00 in a research report on Tuesday, December 17th. Bank of America upgraded Veris Residential from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $20.00 to $23.00 in a research note on Tuesday, November 12th.

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.