Is Veris Residential, Inc. overvalued or undervalued?

As of 3 August 2020, the valuation grade for Veris Residential, Inc. moved from very attractive to risky, indicating a shift in perception regarding its financial health. The company appears to be overvalued, particularly given its negative P/E ratio of -499.33 and a high EV to EBIT of 35.48, which suggests that investors are paying a premium despite the company's losses. Additionally, the Price to Book Value stands at 1.30, which may not justify the current market price in light of the company's financial struggles.
In comparison to its peers, OUTFRONT Media, Inc. has a P/E ratio of 24.95 and an EV to EBITDA of 7.32, while Urban Edge Properties shows a P/E of 26.65 and an EV to EBITDA of 10.43, both indicating more favorable valuations. The recent stock performance of Veris Residential shows a year-to-date return of -5.83%, significantly lagging behind the S&P 500's 12.22% return, reinforcing the notion that the stock may not be a sound investment at its current valuation.