Holdings of Veris Residential Inc. (VRE) are aligned with the stars

Veris Residential Inc. (NYSE: VRE) stock jumped 5.30% on Friday to $14.10 against a previous-day closing price of $13.39. With 1.02 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.59 million shares. During the session, the REIT – Residential company that operates in wider Real Estate sector, reached to the highest price of $14.25 whereas the lowest price it dropped to was $13.46. The 52-week range on VRE shows that it touched its highest point at $19.90 and its lowest point at $12.08 during that stretch. It currently has a 1-year price target of $16.42. Beta for the stock currently stands at 1.04.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of VRE was up-trending over the past week, with a rise of 0.79%, but this was up by 6.58% over a month. Three-month performance dropped to -11.43% while six-month performance fell -16.17%. The stock lost -17.45% in the past year, while it has lost -23.29% so far this year. A look at the trailing 12-month EPS for VRE yields -1.65 with Next year EPS estimates of -0.24. For the next quarter, that number is -0.13. This implies an EPS growth rate of -18.00% for this year and 40.00% for next year.

Float and Shares Shorts:

At present, 90.95 million VRE shares are outstanding with a float of 76.33 million shares on hand for trading. On Jul 14, 2022, short shares totaled 3.71 million, which was 4.08% higher than short shares on Jun 14, 2022. In addition to Mr. Mahbod Nia as the firm’s CEO & Director, Mr. Marshall B. Tycher serves as its Sr. Advisor.

Institutional Ownership:

Through their ownership of 100.67% of VRE’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 9.01% of VRE, in contrast to 49.31% held by mutual funds. Shares owned by individuals account for 48.37%. As the largest shareholder in VRE with 14.57% of the stake, BlackRock Fund Advisors holds 13,263,963 shares worth 13,263,963. A second-largest stockholder of VRE, The Vanguard Group, Inc., holds 12,282,732 shares, controlling over 13.49% of the firm’s shares. Madison International Realty Hold is the third largest shareholder in VRE, holding 6,107,661 shares or 6.71% stake. With a 6.21% stake in VRE, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 5,648,392 shares are owned by the mutual fund manager. The Vanguard Real Estate Index Fund, which owns about 3.91% of VRE stock, is the second-largest Mutual Fund holder. It holds 3,557,995 shares valued at 47.11 million. Fidelity Japan Fidelity US REIT M holds 3.00% of the stake in VRE, owning 2,726,400 shares worth 36.1 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for VRE since 7 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 4 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With VRE analysts setting a high price target of $26.00 and a low target of $13.00, the average target price over the next 12 months is $16.50. Based on these targets, VRE could surge 84.4% to reach the target high and fall by -7.8% to reach the target low. Reaching the average price target will result in a growth of 17.02% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. VRE will report FY 2022 earnings on 02/22/2023. Analysts have provided yearly estimates in a range of -$0.35 being high and -$0.59 being low. For VRE, this leads to a yearly average estimate of -$0.47. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Veris Residential Inc. surprised analysts by $0.42 when it reported $0.29 EPS against a consensus estimate of -$0.13. The surprise factor in the prior quarter was -$0.02. Based on analyst estimates, the high estimate for the next quarter is -$0.10 and the low estimate is -$0.18. The average estimate for the next quarter is thus -$0.14.

Summary of Insider Activity:

Insiders traded VRE stock several times over the past three months with 6 Buys and 1 Sells. In these transactions, 42,672 shares were bought while 381 shares were sold. The number of buy transactions has increased to 15 while that of sell transactions has risen to 2 over the past year. The total number of shares bought during that period was 279,225 while 20,083 shares were sold.

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