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Veris Residential Declares Quarterly Cash Dividend
PRNewswire (Wed, 13-Nov 4:15 PM ET)
Veris Residential, Inc. Reports Third Quarter 2024 Results
PRNewswire (Wed, 30-Oct 4:15 PM ET)
Veris Residential, Inc. Announces Dates for Third Quarter 2024 Financial Results and Webcast
PRNewswire (Thu, 10-Oct 4:10 PM ET)
Veris Residential Inc is a fully-integrated, self-administered and self-managed real estate investment trust (REIT). The company owns and operates a real estate portfolio comprised predominantly of multifamily rental properties located mainly in the Northeast and Class A office properties. The company performs substantially all real estate management, leasing, acquisition and development on an in-house basis. The properties are in three states in the Northeast, plus the District of Columbia. The company operates in two industry segments multifamily real estate & services and commercial & other real estate. The majority of revenue is from Multifamily real estate services.
Veris Residential trades on the NYSE stock market under the symbol VRE.
As of December 13, 2024, VRE stock price declined to $17.50 with 292,637 million shares trading.
VRE has a beta of 0.84, meaning it tends to be less sensitive to market movements. VRE has a correlation of 0.19 to the broad based SPY ETF.
VRE has a market cap of $1.63 billion. This is considered a Small Cap stock.
Last quarter Veris Residential reported $68 million in Revenue and $.17 earnings per share. This fell short of revenue expectation by $-65,000 and exceeded earnings estimates by $.05.
In the last 3 years, VRE traded as high as $19.60 and as low as $10.22.
The top ETF exchange traded funds that VRE belongs to (by Net Assets): IJR, VNQ, VTI, IWM, VB.
VRE has underperformed the market in the last year with a price return of +19.4% while the SPY ETF gained +31.7%. VRE has also underperformed the stock market ETF in the last 3 month and 2 week periods returning +0.3% and -3.8%, respectively, while the SPY returned +8.4% and +0.9%, respectively.
VRE support price is $17.38 and resistance is $17.78 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that VRE shares will trade within this expected range on the day.