Veris Residential (NYSE:VRE – Get Free Report) released its quarterly earnings results on Wednesday. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.11), Zacks reports. The company had revenue of $67.48 million for the quarter, compared to analysts’ expectations of $67.73 million. Veris Residential had a negative return on equity of 8.53% and a negative net margin of 21.79%. During the same period in the previous year, the business posted $0.16 EPS. Veris Residential updated its FY 2024 guidance to 0.520-0.560 EPS.
Veris Residential Stock Up 3.1 %
Shares of NYSE:VRE traded up $0.48 during trading on Friday, hitting $16.05. The company’s stock had a trading volume of 276,523 shares, compared to its average volume of 687,856. The company has a market capitalization of $1.49 billion, a PE ratio of -16.00, a PEG ratio of 4.89 and a beta of 1.26. Veris Residential has a fifty-two week low of $13.06 and a fifty-two week high of $18.98. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.35 and a current ratio of 2.35. The stock’s 50-day moving average price is $15.15 and its two-hundred day moving average price is $15.07.
Veris Residential Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 16th. Shareholders of record on Wednesday, July 3rd were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date was Wednesday, July 3rd. This is a boost from Veris Residential’s previous quarterly dividend of $0.05. Veris Residential’s payout ratio is currently -24.00%.
Wall Street Analysts Forecast Growth
Get Our Latest Research Report on VRE
Insider Activity at Veris Residential
In other Veris Residential news, Director Nori Gerardo Lietz purchased 10,000 shares of Veris Residential stock in a transaction that occurred on Thursday, June 20th. The stock was purchased at an average price of $14.31 per share, with a total value of $143,100.00. Following the completion of the acquisition, the director now owns 39,687 shares of the company’s stock, valued at approximately $567,920.97. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Veris Residential news, Director Nori Gerardo Lietz purchased 10,000 shares of Veris Residential stock in a transaction that occurred on Thursday, June 20th. The stock was purchased at an average price of $14.31 per share, with a total value of $143,100.00. Following the completion of the acquisition, the director now owns 39,687 shares of the company’s stock, valued at approximately $567,920.97. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mahbod Nia purchased 35,000 shares of Veris Residential stock in a transaction that occurred on Thursday, June 20th. The stock was acquired at an average cost of $14.32 per share, with a total value of $501,200.00. Following the acquisition, the chief executive officer now directly owns 380,869 shares of the company’s stock, valued at approximately $5,454,044.08. The disclosure for this purchase can be found here. 15.00% of the stock is currently owned by company insiders.
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.
Featured Articles
- Five stocks we like better than Veris Residential
- Why Understanding Call Option Volume is Essential to Successful Options Trading
- 3M Surprises and Rebound Accelerates: It Isn’t Too Late To Get In
- REIT Stocks – Best REIT Stocks to Add to Your Portfolio Today
- Skechers Stock Shows Strength Among Consumer Discretionary Sector
- Industrial Products Stocks Investing
- Tech Stocks Tumble, These Stocks Present Buying Opportunity
Receive News & Ratings for Veris Residential Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veris Residential and related companies with MarketBeat.com's FREE daily email newsletter.