Veris Residential Inc (NYSE: VRE) is -6.87% lower on its value in year-to-date trading and has touched a low of $13.06 and a high of $18.98 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The VRE stock was last observed hovering at around $14.76 in the last trading session, with the day’s loss setting it -0.11%.
Currently trading at $14.65, the stock is -2.40% and -3.60% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.93 million and changing -0.75% at the moment leaves the stock -8.62% off its SMA200. VRE registered -6.09% loss for a year compared to 6-month loss of -17.79%. The firm has a 50-day simple moving average (SMA 50) of $11.35 and a 200-day simple moving average (SMA200) of $41.79.
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The stock witnessed a -0.75% gain in the last 1 month and extending the period to 3 months gives it a -1.35%, and is -1.94% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.16% over the week and 2.49% over the month.
Veris Residential Inc (VRE) has around 197 employees, a market worth around $1.35B and $280.05M in sales. Profit margin for the company is -54.80%. Distance from 52-week low is 12.13% and -22.79% from its 52-week high. The company has generated returns on investments over the last 12 months (-5.72%).
Veris Residential Inc quarterly earnings per share for the current quarter are estimated at -$0.03 with sales reaching $69M over the same period.The EPS is expected to grow by 84.52% this year, but quarterly earnings will post 1.30% year-over-year. Quarterly sales are estimated to shrink -21.30% in year-over-year returns.
269 institutions hold shares in Veris Residential Inc (VRE), with institutional investors hold 122.32% of the company’s shares. The shares outstanding are 92.23M, and float is at 77.82M with Short Float at 5.36%. Institutions hold 110.35% of the Float.
The top institutional shareholder in the company is Blackrock Inc. with over 14.53 million shares valued at $233.18 million. The investor’s holdings represent 15.78% of the VRE Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 12.45 million shares valued at $199.77 million to account for 13.52% of the shares outstanding. The other top investors are Madison International Realty Holdings, LLC which holds 6.11 million shares representing 6.63% and valued at over $98.03 million, while Wellington Management Group, LLP holds 6.25% of the shares totaling 5.75 million with a market value of $92.3 million.
Veris Residential Inc (VRE) Insider Activity
The most recent transaction is an insider sale by KATZ A. AKIVA, the company’s Director. SEC filings show that KATZ A. AKIVA sold 10,607 shares of the company’s common stock on Aug 31 ’23 at a price of $18.75 per share for a total of $0.2 million. Following the sale, the insider now owns 5.2 million shares.
Veris Residential Inc disclosed in a document filed with the SEC on Aug 30 ’23 that KATZ A. AKIVA (Director) sold a total of 100,000 shares of the company’s common stock. The trade occurred on Aug 30 ’23 and was made at $18.83 per share for $1.88 million. Following the transaction, the insider now directly holds 5.21 million shares of the VRE stock.
