Key Takeaways
- Veris Residential (VRE, Financial) aims to acquire full ownership of a valuable apartment tower in Jersey City.
- Analysts predict a potential upside of over 26% based on the current price.
- Consensus rating from brokers suggests an "Outperform" status for VRE.
Veris Residential (VRE) is reportedly nearing the completion of a strategic acquisition to secure the remaining 25% stake in a $430 million apartment tower in Jersey City. This premium property boasts luxurious amenities, including a pool, dog park, and yoga studio, enhancing its appeal and potential value.
Wall Street Analysts Forecast
According to price targets set by six financial analysts, Veris Residential Inc (VRE, Financial) is projected to reach an average price of $19.79 over the next year. This projection includes a range, with the high estimate at $26.00 and the low estimate at $17.00. Such estimates suggest an impressive upside potential of 26.71% relative to the current trading price of $15.62. For more in-depth analysis, visit the Veris Residential Inc (VRE) Forecast page.
Additionally, the consensus recommendation from six brokerage firms positions Veris Residential Inc (VRE, Financial) with an average brokerage recommendation of 2.2, signifying an "Outperform" classification. On their scale, 1 represents a Strong Buy, whereas 5 indicates a Sell.
Moreover, according to GuruFocus estimates, the projected GF Value for Veris Residential Inc (VRE, Financial) in the coming year stands at $19.47, indicating a potential upside of 24.65% from the current price of $15.62. The GF Value metric, an insightful tool offered by GuruFocus, assesses the stock's fair market value based on historical trading multiples, past business growth, and future performance projections. For further details, visit the Veris Residential Inc (VRE) Summary page.
