The stock price of Veris Residential Inc (NYSE: VRE) has plunged by -6.48 when compared to previous closing price of 15.19, but the company has seen a -4.47% decline in its stock price over the last five trading sessions. prnewswire.com reported 2024-06-18 that JERSEY CITY, N.J., June 18, 2024 /PRNewswire/ — Veris Residential, Inc. (NYSE: VRE) (the “Company”) today announced that it has withdrawn its proposed public offering of shares of its common stock.
Is It Worth Investing in Veris Residential Inc (NYSE: VRE) Right Now?
VRE has 36-month beta value of 1.26. Analysts have mixed views on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for VRE is 83.82M, and currently, short sellers hold a 5.36% ratio of that float. The average trading volume of VRE on June 18, 2024 was 489.94K shares.
VRE’s Market Performance
VRE’s stock has seen a -4.47% decrease for the week, with a -9.64% drop in the past month and a -3.30% fall in the past quarter. The volatility ratio for the week is 2.01%, and the volatility levels for the past 30 days are at 1.91% for Veris Residential Inc The simple moving average for the last 20 days is -6.57% for VRE stock, with a simple moving average of -6.95% for the last 200 days.
Analysts’ Opinion of VRE
Many brokerage firms have already submitted their reports for VRE stocks, with JP Morgan repeating the rating for VRE by listing it as a “Underweight.” The predicted price for VRE in the upcoming period, according to JP Morgan is $14 based on the research report published on October 25, 2023 of the previous year 2023.
Evercore ISI, on the other hand, stated in their research note that they expect to see VRE reach a price target of $19, previously predicting the price at $18. The rating they have provided for VRE stocks is “Outperform” according to the report published on July 27th, 2023.
Deutsche Bank gave a rating of “Buy” to VRE, setting the target price at $19 in the report published on May 16th of the previous year.
VRE Trading at -5.48% from the 50-Day Moving Average
After a stumble in the market that brought VRE to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -25.14% of loss for the given period.
Volatility was left at 1.91%, however, over the last 30 days, the volatility rate increased by 2.01%, as shares sank -8.78% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -5.39% lower at present.
During the last 5 trading sessions, VRE fell by -4.30%, which changed the moving average for the period of 200-days by -23.54% in comparison to the 20-day moving average, which settled at $15.14. In addition, Veris Residential Inc saw -9.69% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at VRE starting from KATZ A. AKIVA, who sale 10,607 shares at the price of $18.75 back on Aug 31 ’23. After this action, KATZ A. AKIVA now owns 5,195,930 shares of Veris Residential Inc, valued at $198,881 using the latest closing price.
KATZ A. AKIVA, the Director of Veris Residential Inc, sale 100,000 shares at $18.83 during a trade that took place back on Aug 30 ’23, which means that KATZ A. AKIVA is holding 5,206,537 shares at $1,883,000 based on the most recent closing price.
Stock Fundamentals for VRE
Current profitability levels for the company are sitting at:
- 0.01 for the present operating margin
- 0.48 for the gross margin
The net margin for Veris Residential Inc stands at -0.33. The total capital return value is set at 0.0. Equity return is now at value -7.55, with -2.53 for asset returns.
Based on Veris Residential Inc (VRE), the company’s capital structure generated 0.62 points at debt to capital in total, while cash flow to debt ratio is standing at 0.03. The debt to equity ratio resting at 1.64. The interest coverage ratio of the stock is 0.02.
Currently, EBITDA for the company is 124.03 million with net debt to EBITDA at 14.4. When we switch over and look at the enterprise to sales, we see a ratio of 10.81. The receivables turnover for the company is 87.29for trailing twelve months and the total asset turnover is 0.09.
Conclusion
To put it simply, Veris Residential Inc (VRE) has had a bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
