Fintel reports that on July 27, 2023, Evercore ISI Group upgraded their outlook for Veris Residential (NYSE:VRE) from In-Line to Outperform .
Analyst Price Forecast Suggests 3.81% Upside
As of July 6, 2023, the average one-year price target for Veris Residential is 18.77. The forecasts range from a low of 15.15 to a high of $23.10. The average price target represents an increase of 3.81% from its latest reported closing price of 18.08.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Veris Residential is 359MM, a decrease of 7.84%. The projected annual non-GAAP EPS is -0.73.
What is the Fund Sentiment?
There are 393 funds or institutions reporting positions in Veris Residential. This is an increase of 1 owner(s) or 0.26% in the last quarter. Average portfolio weight of all funds dedicated to VRE is 0.30%, a decrease of 8.04%. Total shares owned by institutions decreased in the last three months by 0.02% to 87,595K shares. 
The put/call ratio of VRE is 5.15, indicating a bearish outlook.
What are Other Shareholders Doing?
Madison International Realty Holdings holds 6,108K shares representing 6.67% ownership of the company. No change in the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 5,779K shares representing 6.31% ownership of the company. In it's prior filing, the firm reported owning 5,873K shares, representing a decrease of 1.62%. The firm decreased its portfolio allocation in VRE by 12.13% over the last quarter.
H holds 4,697K shares representing 5.13% ownership of the company. No change in the last quarter.
Wellington Management Group Llp holds 4,042K shares representing 4.41% ownership of the company. In it's prior filing, the firm reported owning 2,622K shares, representing an increase of 35.14%. The firm decreased its portfolio allocation in VRE by 80.24% over the last quarter.
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 3,403K shares representing 3.71% ownership of the company. In it's prior filing, the firm reported owning 3,454K shares, representing a decrease of 1.49%. The firm increased its portfolio allocation in VRE by 3.19% 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.
Additional reading:
- REIT INTEREST AND PARTNERSHIP INTEREST PURCHASE AGREEMENT VERIS RESIDENTIAL, L.P. VERIS RESIDENTIAL TRUST, AS GENERAL PARTNER ROCKPOINT GROWTH AND INCOME UPPER REIT AGGREGATOR II-A, L.L.C., ROCKPOINT GROWTH AND INCOME LOWER REIT AGGREGATOR II-A, L.L.
- REVOLVING CREDIT AND TERM LOAN AGREEMENT dated as of July 25, 2023 among VERIS RESIDENTIAL, L.P. The Lenders Party Hereto and JPMORGAN CHASE BANK, N.A., as Administrative Agent GOLDMAN SACHS BANK USA, as Syndication Agent ____________________________
- PARENT GUARANTY
- SUBSIDIARY GUARANTY
- PLEDGE AND SECURITY AGREEMENT
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
