Bullish indicating open at $55-$60, IPO prices at $37
JERSEY CITY, N.J. - Veris Residential, Inc. (NYSE: VRE), a Class A multifamily real estate investment trust (REIT) focused on the Northeast, has declared a cash dividend of $0.08 per common stock for the first quarter ending March 31, 2025. The dividend, representing an annual yield of 1.99%, is scheduled for payment on April 10, 2025, to shareholders on record as of March 31, 2025. The company, currently valued at $1.63 billion, has demonstrated a significant dividend growth of 52% over the last twelve months.
This announcement follows the company’s established practice of distributing dividends and reflects its ongoing operations and financial performance. The board of directors of Veris Residential periodically reviews the dividend policy, considering factors such as adjusted funds from operations (AFFO), cash flow, taxable income, distribution requirements, and capital needs. According to InvestingPro analysis, VRE maintains strong liquidity with a current ratio of 1.22, indicating its ability to meet short-term obligations effectively.Want deeper insights? InvestingPro offers exclusive access to detailed financial metrics and expert analysis for Veris Residential, including 6 key ProTips that could impact your investment decision.
Veris Residential’s operations encompass the ownership, management, acquisition, and development of premier multifamily properties. The company leverages a technology-driven platform to offer contemporary living experiences that align with resident preferences and benefit the surrounding communities. It is led by a seasoned management team and board of directors, emphasizing strong corporate governance, operational excellence, and an inclusive culture.
The declaration of future dividends will continue to depend on the board’s approval and a comprehensive assessment of the company’s financial metrics and capital requirements.
The information provided in this article is based on a press release statement from Veris Residential, Inc.
In other recent news, Veris Residential reported its fourth-quarter 2024 earnings, showing a net loss of $0.13 per share, which was slightly below analysts’ expectations of a $0.11 loss. However, the company’s revenue reached $68.08 million, surpassing the forecast of $67.36 million. Despite the earnings miss, the revenue growth indicates a strong top-line performance. The company plans to sell $300 million to $500 million in assets over the next 12 to 24 months and may buy back up to $100 million in stock. Evercore ISI recently downgraded Veris Residential’s stock rating from Outperform to In Line, citing concerns about the company’s strategic direction amid a challenging capital market environment. The downgrade also reflects the delay in a large-scale monetization event that analysts initially anticipated. Despite these challenges, Veris Residential’s management remains focused on enhancing shareholder value through strategic initiatives, including asset sales and stock buybacks. The company’s guidance for 2025 projects Core Funds From Operations (FFO) of $0.61 to $0.63 per share, indicating potential growth of 2-5%.
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