Veris Residential (VRE) PT Raised to $15 at Truist Securities

Truist Securities analyst Michael Lewis raised the price target on Veris Residential (NYSE: VRE) to $15.00 (from $14.00) while maintaining a Hold rating.

The analyst comments "What’s Incremental to Our View: We are adjusting our FFO estimates and raising our price target by $1 to $15 (from $14), as described below. After refinancing the secured credit facility at a lower rate, selling the last remaining office asset and some land, and recording a normalized FFO beat & raise in 1Q24, VRE recorded another beat & raise in 2Q24 with good portfolio performance."

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