Added to YB: 2026-02-10
Pitch date: 2026-02-07
VRE [neutral]
Veris Residential, Inc.
+1.75%
current return
Author Info
No bio for this author
Company Info
Veris Residential, Inc. is a forward-thinking real estate investment trust (REIT) that primarily owns, operates, acquires and develops premier Class A multifamily properties in the Northeast.
Market Cap
$1.6B
Pitch Price
$16.56
Price Target
N/A
Dividend
1.92%
EV/EBITDA
22.08
P/E
26.46
EV/Sales
10.67
Sector
Residential REITs
Category
special_situation
Watchlist Add: VRE, Veris Residential
VRE (watchlist): Activist Erez (5.02% stake, $72.6M invested) pushing sale, estimates $22-$25/share vs current ~$16. Former Mack-Cali transitioned from office to Class A multifamily Northeast. Trades 5.6% implied cap rate vs private 4.5-5.0%. Recent asset sales at 5.1% cap support thesis. Erez track record: Cedar liquidation +70% premium, WSR governance win. Watchlist at current price, target entry ~$15 (6% cap).
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