Veris Residential price target lowered to $15 from $16 at Truist

Truist lowered the firm’s price target on Veris Residential (VRE) to $15 from $16 and keeps a Hold rating on the shares. The firm raised its 2025 and 2026 following a normalized FFO beat in Q2, and is now assuming minimal share repurchases as the company uses disposition proceeds to reduce financial. On the other hand, Truist cut its price target essentially due to assuming a lower target FFO multiple amid sluggish job growth and elevated macroeconomic uncertainty. Disposition timing/pricing and re-stabilization of Liberty Towers remain key variables over the next several quarters, the analyst tells investors in a research note.