Veris Residential stock price target lowered to $22 at BTIG

Investing.com - BTIG lowered its price target on Veris Residential (NYSE:VRE) to $22.00 from $26.00 on Wednesday, while maintaining a Buy rating on the real estate company’s shares. Currently trading at $14.54 with a market capitalization of $1.48 billion, VRE’s analyst targets range from $16 to $26, according to InvestingPro data.

The price target reduction comes as BTIG analyst Thomas Catherwood reassessed the company’s valuation metrics, though the firm remains positive on Veris Residential’s long-term prospects as reflected in the maintained Buy rating. InvestingPro analysis shows the company posted revenue growth of 3.92% in the last twelve months, despite reporting a loss of $0.38 per share.

The analyst note appears to contain some information about Capital One Financial (NYSE:COF) that seems unrelated to the Veris Residential price target change, suggesting a possible error in the factual context provided.

No specific reasoning for the Veris Residential price target reduction was clearly articulated in the available information, limiting further details about the analyst’s rationale.

The real estate investment trust, formerly known as Mack-Cali Realty Corporation, focuses primarily on multifamily residential properties in the Northeast United States.

In other recent news, Veris Residential Inc. reported its first-quarter 2025 earnings, revealing a net loss of $0.12 per share, which did not meet analysts’ expectations of a $0.09 loss. Despite this, the company exceeded revenue forecasts, generating $67.76 million compared to the anticipated $63.8 million. Additionally, Truist Securities adjusted its outlook on Veris Residential, lowering the price target from $17.00 to $16.00 while maintaining a Hold rating, reflecting a revised earnings projection. Evercore ISI also revised its target for Veris Residential, reducing it to $17.50 from $18.00, but kept an In Line rating. The analysts at Evercore ISI considered both the current stock value and potential future monetization events in their assessment. Meanwhile, at the company’s annual meeting, nine directors were elected to serve one-year terms, and executive compensation was approved. PricewaterhouseCoopers LLP was ratified as the independent auditor for the fiscal year ending December 31, 2025. These developments highlight ongoing adjustments and strategic decisions within Veris Residential.

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