Moreover, the 36-month beta value for VRE is 1.27. Analysts have varying opinions on the stock, with 3 analysts rating it as a “buy,” 1 as “overweight,” 3 as “hold,” and 1 as “sell.”
The public float for VRE is 90.24M and currently, short sellers hold a 4.39% of that float. On November 28, 2024, VRE’s average trading volume was 425.14K shares.
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VRE) stock’s latest price update
The stock price of Veris Residential Inc (NYSE: VRE) has surged by 0.17 when compared to previous closing price of 18.17, but the company has seen a -0.27% decline in its stock price over the last five trading sessions. seekingalpha.com reported 2024-11-22 that Veris Residential, Inc. is a multifamily REIT focusing on sustainable, urban properties for affluent renters, leveraging AI for operational efficiency and tenant engagement. Veris Residential’s innovative use of AI, such as the leasing assistant Quinn, has improved lead generation, reduced payroll expenses, and enhanced resident experience. VRE benefits from urban market trends, particularly in NYC, with high rent growth and low vacancy rates, but still holds a “Hold” rating for further stabilization.
VRE’s Market Performance
Veris Residential Inc (VRE) has seen a -0.27% fall in stock performance for the week, with a 8.79% gain in the past month and a 4.24% surge in the past quarter. The volatility ratio for the week is 1.58%, and the volatility levels for the past 30 days are at 2.32% for VRE. The simple moving average for the last 20 days is 2.02% for VRE stock, with a simple moving average of 13.87% for the last 200 days.
Analysts’ Opinion of VRE
Many brokerage firms have already submitted their reports for VRE stocks, with BofA Securities repeating the rating for VRE by listing it as a “Buy.” The predicted price for VRE in the upcoming period, according to BofA Securities is $23 based on the research report published on November 12, 2024 of the current year 2024.
JP Morgan, on the other hand, stated in their research note that they expect to see VRE reach a price target of $14, previously predicting the price at $15. The rating they have provided for VRE stocks is “Underweight” according to the report published on October 25th, 2023.
Evercore ISI gave a rating of “Outperform” to VRE, setting the target price at $19 in the report published on July 27th of the previous year.
VRE Trading at 3.39% 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 -3.45% of loss for the given period.
Volatility was left at 2.32%, however, over the last 30 days, the volatility rate increased by 1.58%, as shares surge +8.20% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +2.08% upper at present.
During the last 5 trading sessions, VRE fell by -0.27%, which changed the moving average for the period of 200-days by +23.31% in comparison to the 20-day moving average, which settled at $17.84. In addition, Veris Residential Inc saw 15.70% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at VRE starting from Nia Mahbod, who purchase 35,000 shares at the price of $14.32 back on Jun 20 ’24. After this action, Nia Mahbod now owns 380,869 shares of Veris Residential Inc, valued at $501,347 using the latest closing price.
Lietz Nori Gerardo, the Director of Veris Residential Inc, purchase 10,000 shares at $14.31 during a trade that took place back on Jun 20 ’24, which means that Lietz Nori Gerardo is holding 39,687 shares at $143,100 based on the most recent closing price.
Stock Fundamentals for VRE
Current profitability levels for the company are sitting at:
- 0.14 for the present operating margin
- 0.36 for the gross margin
The net margin for Veris Residential Inc stands at -0.06. The total capital return value is set at 0.01. Equity return is now at value -1.19, with -0.43 for asset returns.
Based on Veris Residential Inc (VRE), the company’s capital structure generated 0.6 points at debt to capital in total, while cash flow to debt ratio is standing at 0.04. The debt to equity ratio resting at 1.51. The interest coverage ratio of the stock is 0.43.
Currently, EBITDA for the company is 104.92 million with net debt to EBITDA at 14.03. When we switch over and look at the enterprise to sales, we see a ratio of 12.16. The receivables turnover for the company is 65.0for trailing twelve months and the total asset turnover is 0.09.
Conclusion
To wrap up, the performance of Veris Residential Inc (VRE) has been better in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
