Veris Residential, Inc. (NYSE:VRE) to Issue Quarterly Dividend of $0.08

Veris Residential, Inc. (NYSE:VREGet Free Report) declared a quarterly dividend on Wednesday, March 4th. Investors of record on Tuesday, March 31st will be paid a dividend of 0.08 per share on Friday, April 10th. This represents a c) dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Tuesday, March 31st.

Veris Residential has decreased its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 1 years. Veris Residential has a dividend payout ratio of -177.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Veris Residential to earn $0.61 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 52.5%.

Veris Residential Stock Performance

NYSE VRE opened at $18.86 on Thursday. The company has a market cap of $1.76 billion, a P/E ratio of 23.58, a P/E/G ratio of 3.31 and a beta of 1.21. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a 50-day moving average of $15.95 and a two-hundred day moving average of $15.32. Veris Residential has a 1-year low of $13.69 and a 1-year high of $18.89.

Veris Residential (NYSE:VREGet Free Report) last issued its quarterly earnings results on Monday, February 23rd. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.03. The business had revenue of $71.31 million for the quarter, compared to analysts’ expectations of $70.85 million. Veris Residential had a net margin of 26.08% and a return on equity of 5.73%. As a group, analysts anticipate that Veris Residential will post 0.61 EPS for the current year.

Veris Residential Company Profile

(Get Free Report)

Veris Residential, Inc (NYSE: VRE) is a publicly traded real estate investment trust that focuses on the acquisition, development, ownership and management of high-quality, Class A multifamily residential communities. As a pure-play residential REIT, Veris Residential offers a range of apartment homes designed to appeal to both urban and suburban renters seeking modern living spaces enhanced with amenities and services.

The company’s portfolio consists of contemporary apartment buildings that feature studio, one-, two- and three-bedroom floor plans.

Further Reading

Dividend History for Veris Residential (NYSE:VRE)

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