BTIG analyst Tom Catherwood maintained a Buy rating on Veris Residential (VRE – Research Report) on December 28 and set a price target of $26.00. The company’s shares closed last Friday at $15.73.
Catherwood covers the Real Estate sector, focusing on stocks such as SL Green Realty, Prologis, and COPT Defense Properties. According to TipRanks, Catherwood has an average return of -0.9% and a 53.91% success rate on recommended stocks.
The word on The Street in general, suggests a Hold analyst consensus rating for Veris Residential with a $17.40 average price target.
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Based on Veris Residential’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $71.48 million and a GAAP net loss of $54.81 million. In comparison, last year the company earned a revenue of $53.81 million and had a net profit of $29.07 million
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Veris Residential (VRE) Company Description:
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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