Veris Residential Inc reports results for the quarter ended in December - Earnings Summary

Veris Residential

23/02/2024 03:01

* Veris Residential Inc  VRE.N  reported a quarterly
adjusted loss
of 6 cents​​ per share for the quarter ended in December, lower
than the same quarter last year, when the company reported EPS
of 35 cents.  The mean expectation of two analysts for the
quarter was for a loss of 11 cents per share. Wall Street
expected results to range from -12 cents to -11 cents per share.
    * Revenue fell 15.4% to $72.92 million from a year ago;
analysts
expected $71.98 million. 
    * Veris Residential Inc's reported EPS for the quarter was a
loss
of 6 cents​.
    * The company reported a quarterly loss of $5.05 million.
    * Veris Residential Inc shares had fallen by 1.0% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 3.5%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 3
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the residential
reits
peer group is also "hold"

Wall Street's median 12-month price target for Veris Residential
Inc is $17.00 
This summary was machine generated from LSEG data February 23 at
03:01 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.11           0.12           Beat
 Sep. 30 2023      0.12           0.12           Met
 Jun. 30 2023      0.09           0.16           Beat
 Mar. 31 2023      0.09           0.15           Beat