Fintel reports that on November 12, 2024, B of A Securities upgraded their outlook for Veris Residential (NYSE:VRE) from Neutral to Buy.
Analyst Price Forecast Suggests 2.03% Downside
As of October 22, 2024, the average one-year price target for Veris Residential is $17.72/share. The forecasts range from a low of $15.15 to a high of $21.00. The average price target represents a decrease of 2.03% from its latest reported closing price of $18.09 / share.
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The projected annual revenue for Veris Residential is 366MM, an increase of 24.83%. The projected annual non-GAAP EPS is -0.60.
What is the Fund Sentiment?
There are 426 funds or institutions reporting positions in Veris Residential. This is an increase of 18 owner(s) or 4.41% in the last quarter. Average portfolio weight of all funds dedicated to VRE is 0.29%, an increase of 1.48%. Total shares owned by institutions increased in the last three months by 0.41% to 95,110K shares. 
The put/call ratio of VRE is 2.21, indicating a bearish outlook.
What are Other Shareholders Doing?
Prudential Financial holds 6,567K shares representing 7.07% ownership of the company. In its prior filing, the firm reported owning 6,713K shares , representing a decrease of 2.23%. The firm decreased its portfolio allocation in VRE by 68.60% over the last quarter.
Madison International Realty Holdings holds 6,108K shares representing 6.58% ownership of the company. No change in the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 5,205K shares representing 5.61% ownership of the company. In its prior filing, the firm reported owning 5,437K shares , representing a decrease of 4.44%. The firm decreased its portfolio allocation in VRE by 1.93% over the last quarter.
H holds 4,297K shares representing 4.63% ownership of the company. No change in the last quarter.
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 2,953K shares representing 3.18% ownership of the company. In its prior filing, the firm reported owning 3,014K shares , representing a decrease of 2.06%. The firm decreased its portfolio allocation in VRE by 4.82% over the last quarter.
Veris Residential Background Information
(This description is provided by the company.)
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. The company is guided by an experienced management team and Board of Directors and is underpinned by leading corporate governance principles, a best-in-class and sustainable approach to operations, and an inclusive culture based on equality and meritocratic empowerment.
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This story originally appeared on Fintel.
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