Citi analyst Nicholas Joseph maintained a Hold rating on Veris Residential (VRE – Research Report) today and set a price target of $17.00. The company’s shares closed yesterday at $16.43.
Joseph covers the Real Estate sector, focusing on stocks such as Eastgroup Properties, Welltower, and Veris Residential. According to TipRanks, Joseph has an average return of 1.0% and a 56.67% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Veris Residential with a $18.40 average price target.
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Based on Veris Residential’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $66.93 million and a GAAP net loss of $22.01 million. In comparison, last year the company earned a revenue of $88.23 million and had a net profit of $47.45 million
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Mack-Cali Realty Corp. is a real estate investment trust, which owns and operates a real estate portfolio comprised predominantly of Class A office and office flex properties located primarily in the Northeast. It operates through the following two segments: Commercial and Other Real Estate and Multi-Family Real Estate and Services. The Commercial and Other Real Estate and Multi-Family Real Estate Portfolio segments provides leasing, property management, acquisition, development, construction, and tenant-related services. The company was founded on May 24, 1994 and is headquartered in Jersey City, NJ.
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